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

State of New Jersey Common Pension Fund D grew its position in Alpine Income Property Trust, Inc. (NYSE:PINE) by 4.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 223,000 shares of the company’s stock after purchasing an additional 10,000 shares during the quarter. State of New Jersey Common Pension Fund D owned approximately 1.63% of Alpine Income Property Trust worth $3,771,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Sound Income Strategies LLC raised its position in shares of Alpine Income Property Trust by 7.6% in the fourth quarter. Sound Income Strategies LLC now owns 574,075 shares of the company’s stock valued at $9,708,000 after purchasing an additional 40,536 shares during the period. Exchange Traded Concepts LLC increased its position in 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 period. Penserra Capital Management LLC increased its position in 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 period. Allspring Global Investments Holdings LLC bought a new position in Alpine Income Property Trust during the third quarter worth $70,000. Finally, Truvestments Capital LLC increased its position in 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 period. Institutional investors own 60.50% of the company’s stock.

Alpine Income Property Trust Stock Performance

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

Alpine Income Property Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a dividend of $0.275 per share. 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 dividend payout ratio is currently -2,750.00%.

Analyst Ratings Changes

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

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.