Nuveen Asset Management LLC Has $2.93 Million Stake in Alpine Income Property Trust, Inc. (NYSE:PINE)

Nuveen Asset Management LLC boosted its stake in shares of Alpine Income Property Trust, Inc. (NYSE:PINE) by 127.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 174,465 shares of the company’s stock after acquiring an additional 97,910 shares during the quarter. Nuveen Asset Management LLC owned 1.22% of Alpine Income Property Trust worth $2,929,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Raymond James Financial Inc. acquired a new position in shares of Alpine Income Property Trust during the 4th quarter worth about $2,130,000. AlphaCentric Advisors LLC bought a new position in Alpine Income Property Trust during the 4th quarter worth approximately $1,544,000. Crossingbridge Advisors LLC bought a new stake in Alpine Income Property Trust in the fourth quarter valued at approximately $1,544,000. D. E. Shaw & Co. Inc. increased its stake in Alpine Income Property Trust by 125.2% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 83,372 shares of the company’s stock valued at $1,400,000 after purchasing an additional 46,353 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Alpine Income Property Trust by 618.4% in the fourth quarter. JPMorgan Chase & Co. now owns 50,780 shares of the company’s stock worth $853,000 after purchasing an additional 43,712 shares during the period. 60.50% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Jones Trading reduced their price target on shares of Alpine Income Property Trust from $22.00 to $20.00 and set a “buy” rating for the company in a report on Friday, April 25th. Industrial Alliance Securities set a $19.00 target price on shares of Alpine Income Property Trust in a research note on Friday, April 25th. Stifel Nicolaus lowered their target price on Alpine Income Property Trust from $19.25 to $18.75 and set a “buy” rating for the company in a report on Friday, April 25th. UBS Group cut their price target on Alpine Income Property Trust from $17.00 to $16.00 and set a “neutral” rating on the stock in a report on Tuesday, May 13th. Finally, Alliance Global Partners reaffirmed a “buy” rating on shares of Alpine Income Property Trust in a research report on Friday, April 25th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.97.

Alpine Income Property Trust Price Performance

Shares of NYSE PINE opened at $15.40 on Tuesday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.94 and a quick ratio of 0.94. The business has a 50-day moving average of $15.63 and a 200-day moving average of $16.40. The stock has a market capitalization of $219.71 million, a price-to-earnings ratio of 110.00, a PEG ratio of 1.58 and a beta of 0.60. Alpine Income Property Trust, Inc. has a fifty-two week low of $14.51 and a fifty-two week high of $19.42.

Alpine Income Property Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Thursday, June 12th will be paid a $0.285 dividend. The ex-dividend date is Thursday, June 12th. This represents a $1.14 dividend on an annualized basis and a yield of 7.40%. Alpine Income Property Trust’s dividend payout ratio is 1,425.00%.

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.