AlphaCentric Advisors LLC Takes $1.54 Million Position in Alpine Income Property Trust, Inc. (NYSE:PINE)

AlphaCentric Advisors LLC acquired a new stake in Alpine Income Property Trust, Inc. (NYSE:PINE) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 91,980 shares of the company’s stock, valued at approximately $1,544,000. Alpine Income Property Trust accounts for about 1.5% of AlphaCentric Advisors LLC’s investment portfolio, making the stock its 16th biggest holding.

Several other hedge funds and other institutional investors have also made changes to their positions in PINE. Sound Income Strategies LLC boosted its stake in shares of Alpine Income Property Trust by 9.0% in the fourth quarter. Sound Income Strategies LLC now owns 866,916 shares of the company’s stock valued at $14,556,000 after purchasing an additional 71,488 shares during the period. San Luis Wealth Advisors LLC purchased a new position in Alpine Income Property Trust in the fourth quarter worth approximately $722,000. State Street Corp lifted its stake in Alpine Income Property Trust by 18.7% in the third quarter. State Street Corp now owns 272,081 shares of the company’s stock worth $4,952,000 after acquiring an additional 42,889 shares during the last quarter. Jane Street Group LLC lifted its stake in Alpine Income Property Trust by 216.2% in the third quarter. Jane Street Group LLC now owns 43,486 shares of the company’s stock worth $791,000 after acquiring an additional 29,735 shares during the last quarter. Finally, Martingale Asset Management L P purchased a new position in Alpine Income Property Trust in the third quarter worth approximately $441,000. Hedge funds and other institutional investors own 60.50% of the company’s stock.

Alpine Income Property Trust Stock Down 0.4 %

PINE stock opened at $16.44 on Monday. The company has a current ratio of 3.85, a quick ratio of 3.85 and a debt-to-equity ratio of 1.03. Alpine Income Property Trust, Inc. has a twelve month low of $14.32 and a twelve month high of $19.42. The company’s 50 day moving average is $16.73 and its two-hundred day moving average is $17.48. The stock has a market cap of $234.60 million, a P/E ratio of 117.43, a PEG ratio of 1.61 and a beta of 0.80.

Alpine Income Property Trust (NYSE:PINE) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.40. Alpine Income Property Trust had a net margin of 3.96% and a return on equity of 0.76%. Research analysts expect that Alpine Income Property Trust, Inc. will post 1.78 earnings per share for the current fiscal year.

Alpine Income Property Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 13th will be issued a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a dividend yield of 6.93%. This is a boost from Alpine Income Property Trust’s previous quarterly dividend of $0.28. The ex-dividend date is Thursday, March 13th. Alpine Income Property Trust’s payout ratio is presently 800.00%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on PINE shares. Robert W. Baird lifted their price target on shares of Alpine Income Property Trust from $18.00 to $19.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. Stifel Nicolaus lifted their price target on shares of Alpine Income Property Trust from $19.75 to $20.25 and gave the stock a “buy” rating in a research note on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Alpine Income Property Trust presently has an average rating of “Moderate Buy” and an average target price of $19.25.

Insider Activity

In other news, Director Wein Rachel Elias sold 2,000 shares of Alpine Income Property Trust stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $18.00, for a total value of $36,000.00. Following the transaction, the director now directly owns 9,492 shares of the company’s stock, valued at $170,856. The trade was a 17.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.74% of the company’s stock.

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.