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

State of New Jersey Common Pension Fund D increased its holdings in shares of Alpine Income Property Trust, Inc. (NYSE:PINE) by 8.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm 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 owned 1.32% of Alpine Income Property Trust worth $3,434,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PINE. Russell Investments Group Ltd. raised its position in shares of 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 purchasing an additional 35,151 shares during the period. Foundry Partners LLC raised its holdings in Alpine Income Property Trust by 14.9% during the 1st quarter. Foundry Partners LLC now owns 180,035 shares of the company’s stock worth $2,751,000 after buying an additional 23,405 shares during the period. Vanguard Group Inc. lifted its stake in 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 acquired a new position in shares of Alpine Income Property Trust in the first quarter valued at approximately $1,202,000. Finally, Kennedy Capital Management LLC increased its position in shares of 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 acquiring an additional 59,674 shares in the last quarter. 60.50% of the stock is currently owned by institutional investors.

Alpine Income Property Trust Stock Performance

Shares of PINE opened at $17.90 on Wednesday. The company has a market cap of $255.43 million, a PE ratio of 81.46, a price-to-earnings-growth ratio of 1.76 and a beta of 0.80. The firm has a 50-day moving average of $18.05 and a 200-day moving average of $16.83. Alpine Income Property Trust, Inc. has a one year low of $14.32 and a one year high of $19.42. The company has a debt-to-equity ratio of 1.03, a current ratio of 3.85 and a quick ratio of 3.85.

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

Alpine Income Property Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 12th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 6.26%. This is a boost 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 509.11%.

Analysts Set New Price Targets

Several equities research analysts recently commented on PINE shares. Robert W. Baird boosted their price objective 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. Alliance Global Partners increased their price objective on Alpine Income Property Trust from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Truist Financial lifted their target price on Alpine Income Property Trust from $16.00 to $18.00 and gave the company a “hold” rating in a research report on Tuesday, July 30th. Raymond James upped their price target on Alpine Income Property Trust from $18.00 to $19.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 21st. Finally, Stifel Nicolaus boosted 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. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Alpine Income Property Trust currently has an average rating of “Moderate Buy” and an average target price of $19.25.

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.