Raymond James Financial Inc. Takes $2.13 Million Position in Alpine Income Property Trust, Inc. (NYSE:PINE)

Raymond James Financial Inc. purchased a new stake in shares of Alpine Income Property Trust, Inc. (NYSE:PINE - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 126,871 shares of the company's stock, valued at approximately $2,130,000. Raymond James Financial Inc. owned approximately 0.89% of Alpine Income Property Trust at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. JPMorgan Chase & Co. grew its holdings in shares of Alpine Income Property Trust by 26.6% during the third quarter. JPMorgan Chase & Co. now owns 7,068 shares of the company's stock valued at $129,000 after buying an additional 1,483 shares during the last quarter. Tidal Investments LLC grew its stake in Alpine Income Property Trust by 7.4% during the 3rd quarter. Tidal Investments LLC now owns 22,906 shares of the company's stock valued at $417,000 after purchasing an additional 1,578 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Alpine Income Property Trust by 5.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 36,157 shares of the company's stock valued at $607,000 after purchasing an additional 1,977 shares during the period. Rhumbline Advisers raised its stake in shares of Alpine Income Property Trust by 11.7% in the fourth quarter. Rhumbline Advisers now owns 19,916 shares of the company's stock worth $334,000 after purchasing an additional 2,081 shares during the last quarter. Finally, Guardian Wealth Management Inc. lifted its holdings in shares of Alpine Income Property Trust by 4.7% during the third quarter. Guardian Wealth Management Inc. now owns 47,835 shares of the company's stock worth $871,000 after purchasing an additional 2,154 shares during the period. 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 Alpine Income Property Trust news, Director Andrew C. Richardson sold 2,000 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $16.64, for a total transaction of $33,280.00. Following the transaction, the director now directly owns 17,143 shares of the company's stock, valued at $285,259.52. This trade represents a 10.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.74% of the stock is owned by corporate insiders.

Alpine Income Property Trust Stock Performance

Shares of PINE traded down $0.21 during trading hours on Thursday, hitting $16.52. The stock had a trading volume of 70,342 shares, compared to its average volume of 72,387. The firm has a 50-day moving average price of $16.51 and a 200 day moving average price of $17.14. Alpine Income Property Trust, Inc. has a fifty-two week low of $14.33 and a fifty-two week high of $19.42. The firm has a market capitalization of $242.65 million, a price-to-earnings ratio of 117.97, a PEG ratio of 1.58 and a beta of 0.82. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.94 and a current ratio of 0.94.

Alpine Income Property Trust (NYSE:PINE - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.44 earnings per share for the quarter, topping analysts' consensus estimates of $0.04 by $0.40. Alpine Income Property Trust had a net margin of 3.96% and a return on equity of 0.76%. As a group, research analysts anticipate that Alpine Income Property Trust, Inc. will post 1.74 EPS for the current year.

Alpine Income Property Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 13th were issued a $0.285 dividend. This is a positive change from Alpine Income Property Trust's previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a yield of 6.90%. The ex-dividend date of this dividend was Thursday, March 13th. Alpine Income Property Trust's dividend payout ratio (DPR) is presently 814.29%.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus dropped their price objective on shares of Alpine Income Property Trust from $19.50 to $19.25 and set a "buy" rating on the stock in a report on Thursday. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Alpine Income Property Trust has an average rating of "Moderate Buy" and a consensus price target of $19.14.

About Alpine Income Property Trust

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.