Sound Income Strategies LLC Buys 71,488 Shares of Alpine Income Property Trust, Inc. (NYSE:PINE)

Sound Income Strategies LLC boosted its position in Alpine Income Property Trust, Inc. (NYSE:PINE - Free Report) by 9.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 866,916 shares of the company's stock after acquiring an additional 71,488 shares during the period. Sound Income Strategies LLC owned 6.08% of Alpine Income Property Trust worth $14,556,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in PINE. Public Employees Retirement System of Ohio bought a new position in Alpine Income Property Trust in the third quarter worth about $64,000. JPMorgan Chase & Co. raised its stake in 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. Truvestments Capital LLC bought a new stake in Alpine Income Property Trust in the third quarter worth $143,000. Virtu Financial LLC purchased a new stake in shares of Alpine Income Property Trust in the third quarter worth $200,000. Finally, Quadrature Capital Ltd bought a new position in shares of Alpine Income Property Trust during the third quarter valued at $239,000. Institutional investors own 60.50% of the company's stock.

Insider Buying and Selling

In other news, Director Wein Rachel Elias sold 2,000 shares of the 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 completion of the transaction, the director now directly owns 9,492 shares in the company, valued at approximately $170,856. This represents a 17.40 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.74% of the stock is owned by insiders.

Alpine Income Property Trust Stock Performance

NYSE PINE traded up $0.03 during trading hours on Friday, hitting $16.24. 187,221 shares of the company's stock traded hands, compared to its average volume of 81,931. The company has a current ratio of 3.85, a quick 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. The firm has a market capitalization of $231.76 million, a P/E ratio of 73.83, a P/E/G ratio of 1.54 and a beta of 0.80. The business's fifty day moving average price is $17.11 and its two-hundred day moving average price is $17.47.

Alpine Income Property Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Thursday, December 12th were paid a $0.28 dividend. The ex-dividend date of this dividend was Thursday, December 12th. This represents a $1.12 annualized dividend and a dividend yield of 6.90%. Alpine Income Property Trust's dividend payout ratio (DPR) is 509.11%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Stifel Nicolaus upped their price target on shares of Alpine Income Property Trust from $19.75 to $20.25 and gave the stock a "buy" rating in a research note on Monday, October 21st. UBS Group started coverage on shares of Alpine Income Property Trust in a report on Monday, October 14th. They issued a "neutral" rating and a $19.00 target price for the company. Alliance Global Partners increased their price target on shares of Alpine Income Property Trust from $20.00 to $21.00 and gave the company a "buy" rating in a report on Friday, October 18th. Finally, Robert W. Baird boosted their price objective on shares of Alpine Income Property Trust from $18.00 to $19.00 and gave the stock an "outperform" rating in a report on Monday, October 21st. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Alpine Income Property Trust currently has an average rating of "Moderate Buy" and a consensus price target of $19.25.

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.