Foundry Partners LLC Cuts Stock Holdings in Alpine Income Property Trust, Inc. (NYSE:PINE)

Foundry Partners LLC lowered its position in Alpine Income Property Trust, Inc. (NYSE:PINE) by 74.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,270 shares of the company’s stock after selling 132,515 shares during the period. Foundry Partners LLC owned about 0.32% of Alpine Income Property Trust worth $824,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Rhumbline Advisers grew its stake in Alpine Income Property Trust by 8.0% in the 2nd quarter. Rhumbline Advisers now owns 17,197 shares of the company’s stock valued at $268,000 after purchasing an additional 1,272 shares during the period. Tidal Investments LLC boosted its holdings in shares of Alpine Income Property Trust by 5.8% in the 1st quarter. Tidal Investments LLC now owns 19,466 shares of the company’s stock worth $297,000 after buying an additional 1,064 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in Alpine Income Property Trust during the second quarter valued at about $352,000. Renaissance Technologies LLC purchased a new stake in Alpine Income Property Trust during the second quarter worth about $647,000. Finally, Guardian Wealth Management Inc. raised its position in Alpine Income Property Trust by 4.3% in the second quarter. Guardian Wealth Management Inc. now owns 45,681 shares of the company’s stock worth $711,000 after acquiring an additional 1,882 shares during the period. 60.50% of the stock is owned by institutional investors.

Alpine Income Property Trust Stock Up 0.6 %

PINE stock opened at $18.00 on Friday. The stock has a 50-day simple moving average of $17.88 and a two-hundred day simple moving average of $16.98. The company has a quick ratio of 3.85, a current 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 firm has a market capitalization of $256.86 million, a PE ratio of 81.82, a PEG ratio of 1.73 and a beta of 0.80.

Alpine Income Property Trust (NYSE:PINE) last issued its quarterly earnings data on Thursday, October 17th. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.19). Alpine Income Property Trust had a return on equity of 1.23% and a net margin of 6.72%. The business had revenue of $13.48 million during the quarter, compared to analysts’ expectations of $12.08 million. During the same quarter last year, the business posted $0.37 EPS. On average, equities analysts predict that Alpine Income Property Trust, Inc. will post 1.71 EPS for the current fiscal year.

Alpine Income Property Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Thursday, December 12th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 6.22%. The ex-dividend date is Thursday, December 12th. Alpine Income Property Trust’s payout ratio is 509.11%.

Insider Buying and Selling

In related news, Director Wein Rachel Elias sold 2,000 shares of the company’s 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 completion of the transaction, the director now directly owns 9,492 shares in the company, valued at approximately $170,856. The trade was a 17.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders have sold 3,500 shares of company stock worth $62,975. Insiders own 0.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PINE. Robert W. Baird increased their target price on shares of Alpine Income Property Trust from $18.00 to $19.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. UBS Group started coverage on Alpine Income Property Trust in a research report on Monday, October 14th. They issued a “neutral” rating and a $19.00 target price for the company. Raymond James upped their price target on Alpine Income Property Trust from $18.00 to $19.00 and gave the company an “outperform” rating in a research report on Wednesday, August 21st. Truist Financial increased their price target on Alpine Income Property Trust from $16.00 to $18.00 and gave the stock a “hold” rating in a research note on Tuesday, July 30th. Finally, Alliance Global Partners upped their price objective on shares of Alpine Income Property Trust from $20.00 to $21.00 and gave the company a “buy” rating in a report on Friday, October 18th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $19.25.

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.