Raymond James Financial Inc. Purchases Shares of 126,871 Alpine Income Property Trust, Inc. (NYSE:PINE)

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

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Public Employees Retirement System of Ohio purchased a new position in Alpine Income Property Trust during the third quarter worth about $64,000. JPMorgan Chase & Co. boosted its position in shares of Alpine Income Property Trust by 26.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 7,068 shares of the company's stock worth $129,000 after purchasing an additional 1,483 shares during the period. Virtu Financial LLC purchased a new position in shares of Alpine Income Property Trust during the 3rd quarter worth approximately $200,000. Quadrature Capital Ltd acquired a new stake in Alpine Income Property Trust in the 3rd quarter valued at approximately $239,000. Finally, Barclays PLC raised its position in Alpine Income Property Trust by 282.4% in the third quarter. Barclays PLC now owns 16,411 shares of the company's stock valued at $299,000 after purchasing an additional 12,119 shares during the period. 60.50% of the stock is owned by institutional investors and hedge funds.

Alpine Income Property Trust Trading Down 2.4 %

Shares of PINE traded down $0.41 during midday trading on Wednesday, hitting $16.72. 29,228 shares of the stock were exchanged, compared to its average volume of 85,085. Alpine Income Property Trust, Inc. has a 52-week low of $14.32 and a 52-week high of $19.42. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a fifty day simple moving average of $16.49 and a 200 day simple moving average of $17.15. The firm has a market cap of $245.65 million, a P/E ratio of 119.43, a P/E/G ratio of 1.58 and a beta of 0.82.

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Alpine Income Property Trust (NYSE:PINE - Get Free Report) last released its earnings results on Thursday, February 6th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.40. Alpine Income Property Trust had a return on equity of 0.76% and a net margin of 3.96%. On average, research analysts anticipate that Alpine Income Property Trust, Inc. will post 1.74 EPS for the current fiscal year.

Alpine Income Property Trust Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 13th were given a $0.285 dividend. This represents a $1.14 annualized dividend and a yield of 6.82%. The ex-dividend date of this dividend was Thursday, March 13th. This is a boost from Alpine Income Property Trust's previous quarterly dividend of $0.28. Alpine Income Property Trust's dividend payout ratio (DPR) is currently 814.29%.

Insiders Place Their Bets

In other news, Director Andrew C. Richardson sold 2,000 shares of the business's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $16.64, for a total transaction of $33,280.00. Following the completion of the transaction, the director now directly owns 17,143 shares of the company's stock, valued at approximately $285,259.52. The trade was a 10.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.74% of the company's stock.

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.