Los Angeles Capital Management LLC Cuts Stake in Alpine Income Property Trust, Inc. (NYSE:PINE)

Los Angeles Capital Management LLC lowered its holdings in shares of Alpine Income Property Trust, Inc. (NYSE:PINE) by 11.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 20,014 shares of the company’s stock after selling 2,600 shares during the period. Los Angeles Capital Management LLC’s holdings in Alpine Income Property Trust were worth $364,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PINE. Russell Investments Group Ltd. grew its position in shares of Alpine Income Property Trust by 7.7% during the first quarter. Russell Investments Group Ltd. now owns 493,508 shares of the company’s stock worth $7,541,000 after purchasing an additional 35,151 shares in the last quarter. Vanguard Group Inc. grew its holdings in Alpine Income Property Trust by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 755,563 shares of the company’s stock valued at $11,545,000 after buying an additional 6,522 shares in the last quarter. Carlson Capital L P purchased a new position in Alpine Income Property Trust during the 1st quarter valued at approximately $1,202,000. Kennedy Capital Management LLC grew its holdings in 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 buying an additional 59,674 shares in the last quarter. Finally, Tidal Investments LLC grew its holdings in Alpine Income Property Trust by 5.8% during the 1st quarter. Tidal Investments LLC now owns 19,466 shares of the company’s stock valued at $297,000 after buying an additional 1,064 shares in the last quarter. Hedge funds and other institutional investors own 60.50% of the company’s stock.

Alpine Income Property Trust Price Performance

NYSE:PINE opened at $17.64 on Monday. The firm has a market capitalization of $251.72 million, a price-to-earnings ratio of 80.19, a PEG ratio of 1.73 and a beta of 0.80. Alpine Income Property Trust, Inc. has a 1 year low of $14.32 and a 1 year high of $19.42. The business has a 50 day simple moving average of $17.95 and a 200-day simple moving average of $16.91. The company has a debt-to-equity ratio of 1.03, a current ratio of 3.85 and a quick ratio of 3.85.

Alpine Income Property Trust (NYSE:PINE) last posted its quarterly earnings data on Thursday, October 17th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.19). Alpine Income Property Trust had a net margin of 6.72% and a return on equity of 1.23%. The company had revenue of $13.48 million during the quarter, compared to the consensus estimate of $12.08 million. During the same period in the previous year, the business earned $0.37 earnings per share. Equities analysts forecast that Alpine Income Property Trust, Inc. will post 1.7 EPS for the current year.

Alpine Income Property Trust Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 12th were paid a dividend of $0.28 per share. This is a positive change from Alpine Income Property Trust’s previous quarterly dividend of $0.28. This represents a $1.12 dividend on an annualized basis and a dividend yield of 6.35%. The ex-dividend date was Thursday, September 12th. Alpine Income Property Trust’s dividend payout ratio (DPR) is currently 509.11%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PINE. Raymond James raised their price target on Alpine Income Property Trust from $18.00 to $19.00 and gave the company an “outperform” rating in a report on Wednesday, August 21st. B. Riley restated a “buy” rating and set a $20.00 price target (up previously from $19.50) on shares of Alpine Income Property Trust in a report on Wednesday, July 24th. UBS Group began coverage on Alpine Income Property Trust in a report on Monday, October 14th. They set a “neutral” rating and a $19.00 price target for the company. Alliance Global Partners raised their price target on 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, Stifel Nicolaus raised their price target on Alpine Income Property Trust from $19.75 to $20.25 and gave the company a “buy” rating in a report on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $19.25.

Alpine Income Property Trust 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.