State of New Jersey Common Pension Fund D Has $3.43 Million Stock Holdings in Alpine Income Property Trust, Inc. (NYSE:PINE)

State of New Jersey Common Pension Fund D lifted its position in shares of Alpine Income Property Trust, Inc. (NYSE:PINE) by 8.6% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 188,703 shares of the company’s stock after buying an additional 15,000 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Alpine Income Property Trust were worth $3,434,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of PINE. Russell Investments Group Ltd. increased its position in Alpine Income Property Trust by 7.7% during the first quarter. Russell Investments Group Ltd. now owns 493,508 shares of the company’s stock worth $7,541,000 after acquiring an additional 35,151 shares during the period. Foundry Partners LLC increased its holdings in shares of Alpine Income Property Trust by 14.9% during the first quarter. Foundry Partners LLC now owns 180,035 shares of the company’s stock worth $2,751,000 after purchasing an additional 23,405 shares during the period. Vanguard Group Inc. raised its position in shares of Alpine Income Property Trust by 0.9% in the first quarter. Vanguard Group Inc. now owns 755,563 shares of the company’s stock valued at $11,545,000 after buying an additional 6,522 shares in the last quarter. Carlson Capital L P bought a new stake in shares of Alpine Income Property Trust in the first quarter valued at approximately $1,202,000. Finally, Kennedy Capital Management LLC grew its position in Alpine Income Property Trust by 18.6% during the first quarter. Kennedy Capital Management LLC now owns 380,475 shares of the company’s stock worth $5,814,000 after buying an additional 59,674 shares in the last quarter. Institutional investors own 60.50% of the company’s stock.

Wall Street Analyst Weigh In

PINE has been the subject of several analyst reports. Raymond James lifted 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 Wednesday, August 21st. Stifel Nicolaus upped their price objective on shares of Alpine Income Property Trust from $19.75 to $20.25 and gave the stock a “buy” rating in a research report on Monday, October 21st. B. Riley restated a “buy” rating and issued a $20.00 target price (up from $19.50) on shares of Alpine Income Property Trust in a research report on Wednesday, July 24th. Truist Financial increased their price target on shares of Alpine Income Property Trust from $16.00 to $18.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. Finally, Alliance Global Partners boosted 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 research report on Friday, October 18th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $19.25.

Alpine Income Property Trust Stock Performance

NYSE PINE opened at $17.90 on Wednesday. The firm’s fifty day moving average price is $18.05 and its two-hundred day moving average price is $16.83. The stock has a market cap of $255.43 million, a PE ratio of 81.46, a PEG ratio of 1.76 and a beta of 0.80. The company has a debt-to-equity ratio of 1.03, a quick ratio of 3.85 and a current ratio of 3.85. Alpine Income Property Trust, Inc. has a fifty-two week low of $14.32 and a fifty-two week high of $19.42.

Alpine Income Property Trust (NYSE:PINE) last released its quarterly earnings results on Thursday, October 17th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $13.48 million for the quarter, compared to the consensus estimate of $12.08 million. During the same quarter in the previous year, the business posted $0.37 EPS. On average, equities analysts expect that Alpine Income Property Trust, Inc. will post 1.71 EPS for the current fiscal year.

Alpine Income Property Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 12th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 6.26%. This is an increase from Alpine Income Property Trust’s previous quarterly dividend of $0.28. The ex-dividend date was Thursday, September 12th. Alpine Income Property Trust’s payout ratio is currently 509.11%.

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.