Raymond James & Associates Sells 16,218 Shares of Alpine Income Property Trust, Inc. (NYSE:PINE)

Raymond James & Associates lessened its position in Alpine Income Property Trust, Inc. (NYSE:PINE) by 21.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 57,804 shares of the company’s stock after selling 16,218 shares during the period. Raymond James & Associates owned about 0.41% of Alpine Income Property Trust worth $939,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Royal Bank of Canada lifted its stake in shares of Alpine Income Property Trust by 5.2% in the third quarter. Royal Bank of Canada now owns 11,396 shares of the company’s stock worth $185,000 after buying an additional 565 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Alpine Income Property Trust by 17.5% in the fourth quarter. JPMorgan Chase & Co. now owns 4,275 shares of the company’s stock worth $82,000 after buying an additional 636 shares in the last quarter. UBS Group AG lifted its stake in shares of Alpine Income Property Trust by 3.0% in the first quarter. UBS Group AG now owns 24,253 shares of the company’s stock worth $455,000 after buying an additional 703 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Alpine Income Property Trust by 5.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 13,511 shares of the company’s stock valued at $227,000 after purchasing an additional 731 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Alpine Income Property Trust by 1.2% during the third quarter. Bank of New York Mellon Corp now owns 61,910 shares of the company’s stock valued at $1,005,000 after purchasing an additional 738 shares during the last quarter. Institutional investors own 79.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on PINE shares. Jonestrading reissued a “buy” rating and set a $22.00 price objective (down from $24.00) on shares of Alpine Income Property Trust in a report on Friday, July 21st. TheStreet cut shares of Alpine Income Property Trust from a “b-” rating to a “c” rating in a report on Friday, July 21st. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $20.40.

Alpine Income Property Trust Price Performance

Shares of PINE stock opened at $15.70 on Friday. Alpine Income Property Trust, Inc. has a 12 month low of $14.25 and a 12 month high of $20.79. The stock has a market cap of $215.09 million, a P/E ratio of 30.78, a P/E/G ratio of 1.77 and a beta of 0.81. The company has a current ratio of 3.10, a quick ratio of 3.10 and a debt-to-equity ratio of 0.84. The company has a 50 day simple moving average of $16.41 and a two-hundred day simple moving average of $16.31.

Alpine Income Property Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Thursday, September 14th were issued a dividend of $0.275 per share. The ex-dividend date of this dividend was Wednesday, September 13th. This represents a $1.10 dividend on an annualized basis and a yield of 7.01%. Alpine Income Property Trust’s dividend payout ratio is currently 215.69%.

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 commercial income properties that are predominately leased to high-quality publicly traded and credit-rated tenants.