Nomura Asset Management Co. Ltd. Decreases Stock Position in Alpine Income Property Trust, Inc. (NYSE:PINE)

Nomura Asset Management Co. Ltd. cut its stake in shares of Alpine Income Property Trust, Inc. (NYSE:PINE) by 4.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,500 shares of the company’s stock after selling 800 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Alpine Income Property Trust were worth $260,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Public Employees Retirement System of Ohio bought a new stake in Alpine Income Property Trust in the third quarter valued at approximately $64,000. PNC Financial Services Group Inc. increased its stake in shares of Alpine Income Property Trust by 25.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,282 shares of the company’s stock worth $72,000 after buying an additional 867 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Alpine Income Property Trust by 26.6% in the third quarter. JPMorgan Chase & Co. now owns 7,068 shares of the company’s stock worth $129,000 after buying an additional 1,483 shares during the period. Virtu Financial LLC bought a new stake in Alpine Income Property Trust during the 3rd quarter valued at $200,000. Finally, Sei Investments Co. purchased a new stake in Alpine Income Property Trust during the 4th quarter valued at $219,000. 60.50% of the stock is currently owned by institutional investors.

Insider Activity at Alpine Income Property Trust

In related news, Director Andrew C. Richardson sold 2,000 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $16.64, for a total value of $33,280.00. Following the completion of the transaction, the director now directly owns 17,143 shares in the company, valued at $285,259.52. This trade represents a 10.45 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.74% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus decreased their price objective on shares of Alpine Income Property Trust from $19.50 to $19.25 and set a “buy” rating on the stock in a research report on Thursday. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $19.14.

Alpine Income Property Trust Stock Down 1.3 %

Shares of Alpine Income Property Trust stock opened at $16.52 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.09. Alpine Income Property Trust, Inc. has a 12-month low of $14.33 and a 12-month high of $19.42. The company has a market cap of $242.65 million, a P/E ratio of 117.97, a PEG ratio of 1.58 and a beta of 0.82. The company’s fifty day simple moving average is $16.51 and its two-hundred day simple moving average is $17.14.

Alpine Income Property Trust (NYSE:PINE) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate 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 anticipate that Alpine Income Property Trust, Inc. will post 1.74 EPS for the current year.

Alpine Income Property Trust Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 13th were paid a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a dividend yield of 6.90%. The ex-dividend date of this dividend was Thursday, March 13th. This is a boost from Alpine Income Property Trust’s previous quarterly dividend of $0.28. Alpine Income Property Trust’s dividend payout ratio (DPR) is presently 814.29%.

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.