Alpine Income Property Trust, Inc. (NYSE:PINE) Shares Sold by Foundry Partners LLC

Foundry Partners LLC lowered its position in Alpine Income Property Trust, Inc. (NYSE:PINE - Free Report) by 74.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 45,270 shares of the company's stock after selling 132,515 shares during the quarter. Foundry Partners LLC owned about 0.32% of Alpine Income Property Trust worth $824,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in PINE. Kennedy Capital Management LLC boosted its position in shares of Alpine Income Property Trust by 18.6% during the 1st quarter. Kennedy Capital Management LLC now owns 380,475 shares of the company's stock valued at $5,814,000 after acquiring an additional 59,674 shares during the last quarter. Renaissance Technologies LLC bought a new stake in Alpine Income Property Trust in the 2nd quarter worth approximately $647,000. Sound Income Strategies LLC lifted its position in Alpine Income Property Trust by 8.3% in the 3rd quarter. Sound Income Strategies LLC now owns 795,428 shares of the company's stock worth $14,477,000 after buying an additional 60,659 shares during the last quarter. Vanguard Group Inc. lifted its position in Alpine Income Property Trust by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 755,563 shares of the company's stock worth $11,545,000 after buying an additional 6,522 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Alpine Income Property Trust by 7.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 117,280 shares of the company's stock worth $1,825,000 after buying an additional 8,332 shares during the last quarter. Hedge funds and other institutional investors own 60.50% of the company's stock.

Insider Buying and Selling at Alpine Income Property Trust

In other news, Director Wein Rachel Elias sold 2,000 shares of the business's stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $18.00, for a total transaction of $36,000.00. Following the sale, the director now owns 9,492 shares of the company's stock, valued at $170,856. The trade was a 17.40 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders have sold 3,500 shares of company stock valued at $62,975. 0.74% of the stock is owned by corporate insiders.

Alpine Income Property Trust Stock Performance

Shares of PINE traded up $0.11 during mid-day trading on Friday, reaching $18.00. The company had a trading volume of 77,265 shares, compared to its average volume of 73,967. The stock has a market capitalization of $256.91 million, a P/E ratio of 81.82, a PEG ratio of 1.74 and a beta of 0.80. The stock has a 50 day moving average of $17.88 and a two-hundred day moving average of $16.98. The company has a quick ratio of 3.85, a current ratio of 3.85 and a debt-to-equity ratio of 1.03. Alpine Income Property Trust, Inc. has a 52-week low of $14.32 and a 52-week high of $19.42.

Alpine Income Property Trust (NYSE:PINE - Get Free Report) last posted its quarterly earnings results on Thursday, October 17th. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.19). The company had revenue of $13.48 million during the quarter, compared to analyst estimates of $12.08 million. Alpine Income Property Trust had a net margin of 6.72% and a return on equity of 1.23%. During the same period in the prior year, the business posted $0.37 EPS. On average, analysts expect that Alpine Income Property Trust, Inc. will post 1.71 earnings per share for the current year.

Alpine Income Property Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Thursday, December 12th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 6.22%. The ex-dividend date is Thursday, December 12th. Alpine Income Property Trust's dividend payout ratio is presently 509.09%.

Analysts Set New Price Targets

Several analysts have weighed in on PINE shares. Robert W. Baird boosted their price objective on Alpine Income Property Trust from $18.00 to $19.00 and gave the company an "outperform" rating in a research report on Monday, October 21st. Alliance Global Partners boosted their target price on Alpine Income Property Trust from $20.00 to $21.00 and gave the company a "buy" rating in a research note on Friday, October 18th. Stifel Nicolaus boosted their target price on Alpine Income Property Trust from $19.75 to $20.25 and gave the company a "buy" rating in a research note on Monday, October 21st. UBS Group assumed coverage on Alpine Income Property Trust in a research note on Monday, October 14th. They set a "neutral" rating and a $19.00 target price on the stock. Finally, Raymond James boosted their target price on Alpine Income Property Trust from $18.00 to $19.00 and gave the company an "outperform" rating in a research note on Wednesday, August 21st. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $19.25.

Alpine Income Property Trust Company Profile

Alpine Income Property Trust, Inc NYSE: PINE is a publicly traded real estate investment trust that seeks to deliver attractive risk-adjusted returns and dependable cash dividends by investing in, owning and operating a portfolio of single tenant net leased properties that are predominately leased to high-quality publicly traded and credit-rated tenants.