Pacific Ridge Capital Partners LLC Sells 12,801 Shares of Alpine Income Property Trust, Inc. (NYSE:PINE)

Pacific Ridge Capital Partners LLC cut its position in shares of Alpine Income Property Trust, Inc. (NYSE:PINE) by 4.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 299,436 shares of the company’s stock after selling 12,801 shares during the period. Pacific Ridge Capital Partners LLC owned about 2.20% of Alpine Income Property Trust worth $4,659,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Renaissance Technologies LLC acquired a new stake in Alpine Income Property Trust during the second quarter worth $647,000. Dimensional Fund Advisors LP boosted its position in shares of Alpine Income Property Trust by 7.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 117,280 shares of the company’s stock valued at $1,825,000 after acquiring an additional 8,332 shares in the last quarter. Guardian Wealth Management Inc. increased its stake in Alpine Income Property Trust by 4.3% in the second quarter. Guardian Wealth Management Inc. now owns 45,681 shares of the company’s stock valued at $711,000 after acquiring an additional 1,882 shares during the period. ClariVest Asset Management LLC raised its position in Alpine Income Property Trust by 2.9% in the second quarter. ClariVest Asset Management LLC now owns 54,299 shares of the company’s stock worth $845,000 after purchasing an additional 1,516 shares in the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in Alpine Income Property Trust during the second quarter worth about $352,000. 60.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, major shareholder Cto Realty Growth, Inc. purchased 6,562 shares of the business’s stock in a transaction dated Tuesday, July 9th. The shares were acquired at an average price of $14.99 per share, with a total value of $98,364.38. Following the completion of the purchase, the insider now directly owns 202,918 shares of the company’s stock, valued at approximately $3,041,740.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.74% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. B. Riley reissued a “buy” rating and issued a $20.00 target price (up from $19.50) on shares of Alpine Income Property Trust in a report on Wednesday, July 24th. Stifel Nicolaus increased their price objective on Alpine Income Property Trust from $18.00 to $19.25 and gave the stock a “buy” rating in a research note on Friday, July 19th. Truist Financial lifted their price objective on Alpine Income Property Trust from $16.00 to $18.00 and gave the company a “hold” rating in a report on Tuesday, July 30th. Finally, Raymond James upped their target price on shares of Alpine Income Property Trust from $18.00 to $19.00 and gave the stock an “outperform” rating in a report on Wednesday, August 21st. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $18.89.

Alpine Income Property Trust Price Performance

Alpine Income Property Trust stock opened at $18.25 on Friday. The business’s fifty day moving average is $17.89 and its two-hundred day moving average is $16.25. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a market cap of $248.62 million, a P/E ratio of -456.25, a P/E/G ratio of 1.83 and a beta of 0.80. Alpine Income Property Trust, Inc. has a 52 week low of $14.25 and a 52 week high of $19.42.

Alpine Income Property Trust (NYSE:PINE) last issued its quarterly earnings results on Thursday, July 18th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.38). The company had revenue of $12.49 million for the quarter, compared to analyst estimates of $12.10 million. Alpine Income Property Trust had a negative return on equity of 0.20% and a negative net margin of 1.16%. During the same quarter last year, the company earned $0.37 EPS. Equities research analysts forecast that Alpine Income Property Trust, Inc. will post 1.64 earnings per share for the current fiscal year.

Alpine Income Property Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Thursday, September 12th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 6.14%. This is a positive change from Alpine Income Property Trust’s previous quarterly dividend of $0.28. Alpine Income Property Trust’s dividend payout ratio (DPR) is currently -2,800.00%.

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.