Alpine Income Property Trust, Inc. $PINE Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. trimmed its holdings in shares of Alpine Income Property Trust, Inc. (NYSE:PINE) by 30.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,957 shares of the company’s stock after selling 1,325 shares during the period. PNC Financial Services Group Inc.’s holdings in Alpine Income Property Trust were worth $49,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of PINE. Raymond James Financial Inc. acquired a new stake in Alpine Income Property Trust during the 4th quarter valued at approximately $2,130,000. Nuveen Asset Management LLC lifted its stake in shares of Alpine Income Property Trust by 127.9% in the 4th quarter. Nuveen Asset Management LLC now owns 174,465 shares of the company’s stock valued at $2,929,000 after purchasing an additional 97,910 shares during the period. Crossingbridge Advisors LLC acquired a new position in shares of Alpine Income Property Trust in the 4th quarter valued at $1,544,000. Sound Income Strategies LLC lifted its stake in shares of Alpine Income Property Trust by 9.6% in the 1st quarter. Sound Income Strategies LLC now owns 950,536 shares of the company’s stock valued at $15,893,000 after purchasing an additional 83,620 shares during the period. Finally, Man Group plc acquired a new position in shares of Alpine Income Property Trust in the 4th quarter valued at $1,117,000. 60.50% of the stock is currently owned by institutional investors and hedge funds.

Alpine Income Property Trust Price Performance

Alpine Income Property Trust stock opened at $14.9850 on Friday. Alpine Income Property Trust, Inc. has a 52-week low of $13.95 and a 52-week high of $19.42. The firm has a market capitalization of $212.19 million, a price-to-earnings ratio of -299.70, a PEG ratio of 1.41 and a beta of 0.63. The company has a fifty day simple moving average of $14.59 and a 200-day simple moving average of $15.47. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.40.

Alpine Income Property Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Thursday, September 11th will be issued a $0.285 dividend. The ex-dividend date of this dividend is Thursday, September 11th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 7.6%. Alpine Income Property Trust’s dividend payout ratio is currently -2,280.00%.

Insider Activity

In other news, CEO John P. Albright acquired 3,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 6th. The stock was purchased at an average price of $14.20 per share, with a total value of $49,700.00. Following the completion of the acquisition, the chief executive officer owned 11,444 shares of the company’s stock, valued at $162,504.80. This trade represents a 44.06% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. UBS Group cut their price target on shares of Alpine Income Property Trust from $16.00 to $15.00 and set a “neutral” rating for the company in a report on Wednesday, July 16th. Stifel Nicolaus cut their price target on shares of Alpine Income Property Trust from $18.50 to $17.50 and set a “buy” rating for the company in a report on Friday, July 25th. Alliance Global Partners reaffirmed a “buy” rating on shares of Alpine Income Property Trust in a report on Friday, July 25th. Jones Trading dropped their target price on shares of Alpine Income Property Trust from $20.00 to $19.00 and set a “buy” rating for the company in a report on Friday, July 25th. Finally, Industrial Alliance Securities set a $19.00 target price on shares of Alpine Income Property Trust in a report on Friday, April 25th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $18.42.

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.