29,356 Shares in Alpine Income Property Trust, Inc. (NYSE:PINE) Acquired by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans purchased a new position in shares of Alpine Income Property Trust, Inc. (NYSE:PINE - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 29,356 shares of the company's stock, valued at approximately $493,000. Thrivent Financial for Lutherans owned 0.21% of Alpine Income Property Trust at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Raymond James Financial Inc. bought a new stake in shares of Alpine Income Property Trust during the 4th quarter worth $2,130,000. AlphaCentric Advisors LLC bought a new stake in shares of Alpine Income Property Trust in the 4th quarter worth approximately $1,544,000. Sound Income Strategies LLC raised its holdings in shares of Alpine Income Property Trust by 9.0% in the 4th quarter. Sound Income Strategies LLC now owns 866,916 shares of the company's stock worth $14,556,000 after purchasing an additional 71,488 shares during the period. San Luis Wealth Advisors LLC purchased a new position in Alpine Income Property Trust in the fourth quarter valued at approximately $722,000. Finally, State Street Corp grew its holdings in Alpine Income Property Trust by 18.7% during the third quarter. State Street Corp now owns 272,081 shares of the company's stock valued at $4,952,000 after purchasing an additional 42,889 shares during the period. Hedge funds and other institutional investors own 60.50% of the company's stock.

Alpine Income Property Trust Price Performance

NYSE PINE traded down $0.32 on Tuesday, hitting $15.16. The stock had a trading volume of 119,317 shares, compared to its average volume of 73,216. The firm has a 50-day moving average of $16.43 and a 200-day moving average of $17.05. The company has a market capitalization of $222.79 million, a price-to-earnings ratio of 108.31, a price-to-earnings-growth ratio of 1.58 and a beta of 0.57. 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, Inc. has a 52-week low of $14.33 and a 52-week high of $19.42.

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 (EPS) for the quarter, topping analysts' consensus estimates 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%. Equities analysts expect that Alpine Income Property Trust, Inc. will post 1.74 EPS for the current year.

Alpine Income Property Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 13th were given a $0.285 dividend. This represents a $1.14 annualized dividend and a dividend yield of 7.52%. This is a boost from Alpine Income Property Trust's previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Thursday, March 13th. Alpine Income Property Trust's dividend payout ratio is 814.29%.

Insider Buying and Selling

In related news, Director Andrew C. Richardson sold 2,000 shares of the company's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $16.64, for a total value of $33,280.00. Following the completion of the transaction, the director now directly owns 17,143 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.74% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus lowered their price objective on Alpine Income Property Trust from $19.50 to $19.25 and set a "buy" rating on the stock in a research note on Thursday, April 3rd. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $19.14.

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.