State of New Jersey Common Pension Fund D Buys 10,000 Shares of Alpine Income Property Trust, Inc. (NYSE:PINE)

State of New Jersey Common Pension Fund D lifted its stake in shares of Alpine Income Property Trust, Inc. (NYSE:PINE) by 4.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 223,000 shares of the company’s stock after acquiring an additional 10,000 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Alpine Income Property Trust were worth $3,771,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. SG Americas Securities LLC bought a new position in shares of Alpine Income Property Trust during the fourth quarter worth about $117,000. Sound Income Strategies LLC raised its position in shares of Alpine Income Property Trust by 7.6% during the fourth quarter. Sound Income Strategies LLC now owns 574,075 shares of the company’s stock worth $9,708,000 after acquiring an additional 40,536 shares during the last quarter. Exchange Traded Concepts LLC raised its position in shares of Alpine Income Property Trust by 47.3% during the fourth quarter. Exchange Traded Concepts LLC now owns 73,452 shares of the company’s stock worth $1,242,000 after acquiring an additional 23,595 shares during the last quarter. Penserra Capital Management LLC raised its position in shares of Alpine Income Property Trust by 14.4% during the third quarter. Penserra Capital Management LLC now owns 29,426 shares of the company’s stock worth $481,000 after acquiring an additional 3,710 shares during the last quarter. Finally, Truvestments Capital LLC raised its position in shares of Alpine Income Property Trust by 2.1% during the third quarter. Truvestments Capital LLC now owns 114,343 shares of the company’s stock worth $1,871,000 after acquiring an additional 2,392 shares during the last quarter. 60.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on PINE shares. BTIG Research lowered their price objective on Alpine Income Property Trust from $23.00 to $19.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. Stifel Nicolaus lowered their target price on Alpine Income Property Trust from $19.00 to $18.75 and set a “buy” rating for the company in a report on Friday, April 19th. Jonestrading lowered their target price on Alpine Income Property Trust from $19.00 to $18.00 and set a “buy” rating for the company in a report on Friday, April 19th. Finally, Alliance Global Partners initiated coverage on Alpine Income Property Trust in a report on Thursday, April 11th. They issued a “buy” rating and a $19.00 target price for the company. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $18.35.

Alpine Income Property Trust Price Performance

Shares of PINE stock opened at $14.89 on Friday. The stock has a 50 day simple moving average of $15.38 and a two-hundred day simple moving average of $15.88. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 1.00. Alpine Income Property Trust, Inc. has a fifty-two week low of $14.25 and a fifty-two week high of $17.72.

Alpine Income Property Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were issued a $0.275 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.10 dividend on an annualized basis and a yield of 7.39%. Alpine Income Property Trust’s payout ratio is currently -2,750.00%.

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.