Sound Income Strategies LLC Purchases 71,488 Shares of Alpine Income Property Trust, Inc. (NYSE:PINE)

Sound Income Strategies LLC increased its position in shares of Alpine Income Property Trust, Inc. (NYSE:PINE) by 9.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 866,916 shares of the company’s stock after buying an additional 71,488 shares during the quarter. Sound Income Strategies LLC owned 6.08% of Alpine Income Property Trust worth $14,556,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Public Employees Retirement System of Ohio bought a new position in shares of Alpine Income Property Trust during the 3rd quarter worth approximately $64,000. JPMorgan Chase & Co. boosted its holdings in Alpine Income Property Trust by 26.6% during the third quarter. JPMorgan Chase & Co. now owns 7,068 shares of the company’s stock worth $129,000 after purchasing an additional 1,483 shares during the last quarter. Truvestments Capital LLC bought a new position in Alpine Income Property Trust in the third quarter valued at $143,000. Virtu Financial LLC acquired a new stake in Alpine Income Property Trust in the 3rd quarter valued at $200,000. Finally, Quadrature Capital Ltd bought a new stake in Alpine Income Property Trust during the 3rd quarter worth about $239,000. Institutional investors and hedge funds own 60.50% of the company’s stock.

Alpine Income Property Trust Trading Down 1.3 %

Shares of Alpine Income Property Trust stock opened at $16.19 on Friday. The company has a debt-to-equity ratio of 1.03, a current ratio of 3.85 and a quick ratio of 3.85. The business has a fifty day simple moving average of $17.11 and a two-hundred day simple moving average of $17.47. Alpine Income Property Trust, Inc. has a 1 year low of $14.32 and a 1 year high of $19.42. The company has a market capitalization of $231.09 million, a price-to-earnings ratio of 73.61, a P/E/G ratio of 1.54 and a beta of 0.80.

Alpine Income Property Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Thursday, December 12th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 6.92%. The ex-dividend date was Thursday, December 12th. Alpine Income Property Trust’s dividend payout ratio is presently 509.11%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on PINE shares. Robert W. Baird raised their price objective on Alpine Income Property Trust from $18.00 to $19.00 and gave the company an “outperform” rating in a report on Monday, October 21st. Stifel Nicolaus raised their price target on Alpine Income Property Trust from $19.75 to $20.25 and gave the company a “buy” rating in a research note on Monday, October 21st. Alliance Global Partners boosted their price target on Alpine Income Property Trust from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Finally, UBS Group started coverage on Alpine Income Property Trust in a report on Monday, October 14th. They issued a “neutral” rating and a $19.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Alpine Income Property Trust currently has an average rating of “Moderate Buy” and a consensus price target of $19.25.

Insider Buying and Selling

In related news, Director Wein Rachel Elias sold 2,000 shares of Alpine Income Property Trust stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $18.00, for a total transaction of $36,000.00. Following the completion of the sale, the director now directly owns 9,492 shares of the company’s stock, valued at approximately $170,856. This trade represents a 17.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.74% of the stock is currently owned by insiders.

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.