Truvestments Capital LLC grew its position in Alpine Income Property Trust, Inc. (NYSE:PINE – Get Rating) by 35.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,196 shares of the company's stock after acquiring an additional 9,212 shares during the quarter. Truvestments Capital LLC owned about 0.30% of Alpine Income Property Trust worth $571,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in PINE. Royal Bank of Canada lifted its holdings in Alpine Income Property Trust by 5.2% during the 3rd quarter. Royal Bank of Canada now owns 11,396 shares of the company's stock worth $185,000 after buying an additional 565 shares during the last quarter. Boston Partners raised its stake in Alpine Income Property Trust by 1.1% during the 3rd quarter. Boston Partners now owns 59,767 shares of the company's stock valued at $969,000 after acquiring an additional 657 shares during the last quarter. UBS Group AG raised its stake in Alpine Income Property Trust by 3.0% during the 1st quarter. UBS Group AG now owns 24,253 shares of the company's stock valued at $455,000 after acquiring an additional 703 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Alpine Income Property Trust by 1.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 61,910 shares of the company's stock valued at $1,005,000 after acquiring an additional 738 shares during the last quarter. Finally, Uniplan Investment Counsel Inc. increased its position in Alpine Income Property Trust by 0.4% during the 3rd quarter. Uniplan Investment Counsel Inc. now owns 271,908 shares of the company's stock worth $4,410,000 after purchasing an additional 1,051 shares during the period. Hedge funds and other institutional investors own 73.69% of the company's stock.
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Wall Street Analysts Forecast Growth
Several equities analysts recently weighed in on the company. EF Hutton Acquisition Co. I raised their price objective on Alpine Income Property Trust from $22.00 to $23.00 and gave the company a "buy" rating in a research note on Monday, February 13th. Jonestrading raised their price target on Alpine Income Property Trust from $22.00 to $24.00 and gave the company a "buy" rating in a research report on Wednesday, February 22nd. TheStreet upgraded Alpine Income Property Trust from a "c-" rating to a "b-" rating in a research report on Monday, November 21st. Finally, Raymond James raised their price target on Alpine Income Property Trust from $20.00 to $21.00 and gave the company an "outperform" rating in a research report on Monday, January 9th. Four investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $22.25.
Alpine Income Property Trust Stock Down 6.1 %
Shares of NYSE:PINE opened at $16.48 on Friday. The stock's 50-day moving average price is $19.29 and its two-hundred day moving average price is $18.46. The company has a current ratio of 2.96, a quick ratio of 2.96 and a debt-to-equity ratio of 0.90. Alpine Income Property Trust, Inc. has a 12-month low of $15.41 and a 12-month high of $20.79. The firm has a market cap of $231.71 million, a price-to-earnings ratio of 7.59, a PEG ratio of 1.79 and a beta of 0.82.
Alpine Income Property Trust Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Thursday, March 9th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 6.67%. The ex-dividend date of this dividend is Wednesday, March 8th. Alpine Income Property Trust's payout ratio is 50.69%.
Alpine Income Property Trust Profile
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Alpine Income Property Trust, Inc (NYSE: PINE) is a publicly traded real estate investment trust that acquires, owns and operates a portfolio of high-quality single-tenant net leased commercial income properties.
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