Insider Buying: Alpine Income Property Trust, Inc. (NYSE: PINE) Major Shareholder Buys 622 Shares

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Alpine Income Property Trust, Inc. (NYSE:PINE – Get a rating) major shareholder Cto Realty Growth, Inc. purchased 622 shares of Alpine Income Property Trust in a transaction dated Thursday, June 23. The stock was purchased at an average price of $17.54 per share, for a total transaction of $10,909.88. Following the completion of the purchase, the insider now owns 923,397 shares of the company, valued at approximately $16,196,383.38. The acquisition was disclosed in a filing with the SEC, accessible via this hyperlink. Major shareholders who own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Cto Realty Growth, Inc. also recently completed the following transactions:

  • On Tuesday, June 21, Cto Realty Growth, Inc. acquired 3,422 shares of Alpine Income Property Trust. The stock was purchased at an average cost of $17.54 per share, with a total value of $60,021.88.
  • On Friday, June 17, Cto Realty Growth, Inc. purchased 6,824 shares of Alpine Income Property Trust. The stock was purchased at an average price of $16.93 per share, for a total transaction of $115,530.32.
  • On Wednesday, June 15, Cto Realty Growth, Inc. purchased 5,410 shares of Alpine Income Property Trust. The shares were purchased at an average price of $17.74 per share, with a total value of $95,973.40.
  • On Monday, June 13, Cto Realty Growth, Inc. acquired 7,329 shares of Alpine Income Property Trust. The shares were purchased at an average cost of $17.86 per share, for a total transaction of $130,895.94.
  • On Thursday, June 9, Cto Realty Growth, Inc. purchased 100 shares of Alpine Income Property Trust. The shares were purchased at an average cost of $18.00 per share, with a total value of $1,800.00.
  • On Wednesday, May 11, Cto Realty Growth, Inc. purchased 216 shares of Alpine Income Property Trust. The shares were purchased at an average cost of $17.95 per share, for a total transaction of $3,877.20.
  • On Monday, May 9, Cto Realty Growth, Inc. acquired 1,300 shares of Alpine Income Property Trust. The shares were acquired at an average price of $18.27 per share, with a total value of $23,751.00.
  • On Wednesday, May 4, Cto Realty Growth, Inc. acquired 3,600 shares of Alpine Income Property Trust. The shares were acquired at an average price of $18.48 per share, with a total value of $66,528.00.
  • On Monday, May 2, Cto Realty Growth, Inc. purchased 10,406 shares of Alpine Income Property Trust. The shares were acquired at an average cost of $18.32 per share, for a total transaction of $190,637.92.
  • On Wednesday, April 13, Cto Realty Growth, Inc. purchased 9,551 shares of Alpine Income Property Trust. The shares were acquired at an average price of $18.26 per share, for a total transaction of $174,401.26.
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Shares of NYSE:PINE traded down $0.24 during Monday’s trading, hitting $18.15. The stock had trading volume of 19,854 shares, compared to an average volume of 48,625. Alpine Income Property Trust, Inc. has a 52-week low of $16.61 and a 52-week high of 21.07 $. The company has a debt ratio of 1.34, a quick ratio of 0.74 and a current ratio of 0.74. The company’s fifty-day moving average is $18.44 and its 200-day moving average is $18.92. The stock has a market capitalization of $214.77 million, a price/earnings ratio of 22.71, a P/E/G ratio of 1.88 and a beta of 0.82.

Alpine Income Property Trust (NYSE:PINE – Get a rating) last reported results on Thursday, April 21. The company reported earnings per share (EPS) of $0.06 for the quarter, missing the consensus estimate of $0.43 per ($0.37). Alpine Income Property Trust had a net margin of 29.48% and a return on equity of 4.58%. In the same quarter last year, the company posted earnings per share of $0.42. On average, research analysts expect Alpine Income Property Trust, Inc. to post 1.63 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 30. Investors of record on Thursday, June 9 will receive a dividend of $0.27 per share. The ex-date of this dividend is Wednesday, June 8. This represents an annualized dividend of $1.08 and a dividend yield of 5.95%. The payout rate of Alpine Income Property Trust is 135.00%.

A number of hedge funds and other institutional investors have recently increased or reduced their stakes in PINE. Balyasny Asset Management LLC increased its stake in Alpine Income Property Trust by 0.3% in the third quarter. Balyasny Asset Management LLC now owns 143,374 shares of the company valued at $2,634,000 after purchasing an additional 500 shares last quarter. Royal Bank of Canada increased its stake in shares of Alpine Income Property Trust by 5.6% in the 1st quarter. Royal Bank of Canada now owns 11,410 shares of the company valued at $214,000 after purchasing an additional 610 shares during the period. UBS Group AG increased its position in Alpine Income Property Trust by 3.0% in the 1st quarter. UBS Group AG now owns 24,253 shares of the company valued at $455,000 after buying an additional 703 shares last quarter. Guardian Wealth Management Inc. increased its stake in Alpine Income Property Trust by 12.4% during the 1st quarter. Guardian Wealth Management Inc. now owns 9,537 shares of the company worth $179,000 after purchasing an additional 1,051 shares during the period. Finally, Black Swift Group LLC increased its stake in Alpine Income Property Trust by 11.2% during the 4th quarter. Black Swift Group LLC now owns 12,175 shares of the company worth $244,000 after purchasing an additional 1,225 shares during the period. 55.94% of the shares are held by institutional investors and hedge funds.

Separately, TheStreet downgraded Alpine Income Property Trust from a ‘c’ rating to a ‘d+’ rating in a Friday, May 13 report. One investment analyst has assigned the stock a hold rating and four have assigned the stock a buy rating. According to MarketBeat.com, Alpine Income Property Trust currently has an average rating of “Moderate Buy” and an average target price of $20.70.

Company Profile Alpine Income Property Trust (Get a rating)

Alpine Income Property Trust, Inc. (NYSE: PINE) is a publicly traded real estate investment trust that acquires, owns and operates a portfolio of high-quality, single-tenant commercial income properties.

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