Russell Investments Group Ltd. Decreases Stock Position in Alpine Income Property Trust, Inc. (NYSE:PINE)

Russell Investments Group Ltd. lowered its position in Alpine Income Property Trust, Inc. (NYSE:PINE) by 8.3% during the 4th quarter, HoldingsChannel reports. The fund owned 458,357 shares of the company’s stock after selling 41,245 shares during the period. Russell Investments Group Ltd.’s holdings in Alpine Income Property Trust were worth $7,751,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Sound Income Strategies LLC raised its position in Alpine Income Property Trust by 7.6% in the 4th quarter. Sound Income Strategies LLC now owns 574,075 shares of the company’s stock worth $9,708,000 after purchasing an additional 40,536 shares during the period. Exchange Traded Concepts LLC lifted its stake in shares of Alpine Income Property Trust by 47.3% during the 4th quarter. Exchange Traded Concepts LLC now owns 73,452 shares of the company’s stock worth $1,242,000 after acquiring an additional 23,595 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its holdings in Alpine Income Property Trust by 4.9% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 213,000 shares of the company’s stock valued at $3,485,000 after acquiring an additional 10,000 shares during the period. SG Americas Securities LLC bought a new position in Alpine Income Property Trust in the 4th quarter valued at $117,000. Finally, Bank of New York Mellon Corp increased its stake in Alpine Income Property Trust by 6.5% in the third quarter. Bank of New York Mellon Corp now owns 111,337 shares of the company’s stock worth $1,821,000 after purchasing an additional 6,756 shares during the period. Institutional investors own 60.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PINE. Stifel Nicolaus cut their price target on shares of Alpine Income Property Trust from $19.00 to $18.75 and set a “buy” rating on the stock in a report on Friday, April 19th. Jonestrading lowered their price target on Alpine Income Property Trust from $19.00 to $18.00 and set a “buy” rating for the company in a report on Friday, April 19th. Alliance Global Partners assumed coverage on Alpine Income Property Trust in a report on Thursday, April 11th. They set a “buy” rating and a $19.00 price objective on the stock. Finally, BTIG Research lowered their target price on Alpine Income Property Trust from $23.00 to $19.00 and set a “buy” rating for the company in a report on Monday, April 22nd. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Alpine Income Property Trust currently has a consensus rating of “Buy” and an average target price of $18.35.

Alpine Income Property Trust Stock Performance

Shares of PINE stock opened at $15.41 on Wednesday. The firm has a market cap of $209.88 million, a price-to-earnings ratio of -385.25, a PEG ratio of 1.59 and a beta of 0.79. Alpine Income Property Trust, Inc. has a 52-week low of $14.25 and a 52-week high of $17.72. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 1.00. The company’s 50 day moving average is $15.27 and its 200 day moving average is $15.79.

Alpine Income Property Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 7.14%. The ex-dividend date was Wednesday, March 13th. Alpine Income Property Trust’s payout ratio is -2,750.00%.

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.