Crossingbridge Advisors LLC Invests $1.54 Million in Alpine Income Property Trust, Inc. (NYSE:PINE)

Crossingbridge Advisors LLC purchased a new stake in Alpine Income Property Trust, Inc. (NYSE:PINE - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 91,980 shares of the company's stock, valued at approximately $1,544,000. Crossingbridge Advisors LLC owned 0.64% of Alpine Income Property Trust at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of PINE. State Street Corp lifted its position in Alpine Income Property Trust by 18.7% in the third quarter. State Street Corp now owns 272,081 shares of the company's stock worth $4,952,000 after purchasing an additional 42,889 shares during the period. Raymond James Financial Inc. acquired a new position in Alpine Income Property Trust in the fourth quarter worth about $2,130,000. JPMorgan Chase & Co. lifted its stake in Alpine Income Property Trust by 26.6% during the third quarter. JPMorgan Chase & Co. now owns 7,068 shares of the company's stock worth $129,000 after purchasing an additional 1,483 shares during the period. Barclays PLC boosted its holdings in Alpine Income Property Trust by 282.4% during the third quarter. Barclays PLC now owns 16,411 shares of the company's stock valued at $299,000 after purchasing an additional 12,119 shares in the last quarter. Finally, Cottage Street Advisors LLC grew its stake in shares of Alpine Income Property Trust by 124.9% in the 4th quarter. Cottage Street Advisors LLC now owns 43,437 shares of the company's stock valued at $729,000 after purchasing an additional 24,127 shares during the period. 60.50% of the stock is currently owned by institutional investors and hedge funds.

Alpine Income Property Trust Stock Performance

Shares of PINE stock remained flat at $15.45 on Thursday. 21,584 shares of the stock traded hands, compared to its average volume of 85,880. The company has a fifty day simple moving average of $16.21 and a two-hundred day simple moving average of $16.85. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a market cap of $223.65 million, a price-to-earnings ratio of 110.36, a P/E/G ratio of 1.58 and a beta of 0.57. Alpine Income Property Trust, Inc. has a one year low of $14.51 and a one year high of $19.42.

Alpine Income Property Trust (NYSE:PINE - Get Free Report) last announced its earnings results on Thursday, February 6th. The company reported $0.44 EPS for the quarter, topping 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%. On average, analysts expect that Alpine Income Property Trust, Inc. will post 1.74 earnings per share for the current year.

Alpine Income Property Trust Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 13th were paid a $0.285 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This is a positive change from Alpine Income Property Trust's previous quarterly dividend of $0.28. This represents a $1.14 dividend on an annualized basis and a yield of 7.38%. Alpine Income Property Trust's dividend payout ratio is presently 1,425.00%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on PINE shares. Industrial Alliance Securities set a $19.00 price target on Alpine Income Property Trust in a research note on Friday, April 25th. Alliance Global Partners reaffirmed a "buy" rating on shares of Alpine Income Property Trust in a report on Friday, April 25th. Stifel Nicolaus cut their price target on shares of Alpine Income Property Trust from $19.25 to $18.75 and set a "buy" rating for the company in a report on Friday, April 25th. Finally, Jones Trading decreased their price objective on shares of Alpine Income Property Trust from $22.00 to $20.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, Alpine Income Property Trust has a consensus rating of "Moderate Buy" and a consensus price target of $19.31.

Insiders Place Their Bets

In other Alpine Income Property Trust news, Director Andrew C. Richardson sold 2,000 shares of the company's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $16.64, for a total transaction of $33,280.00. Following the completion of the transaction, the director now owns 17,143 shares of the company's stock, valued at $285,259.52. This represents a 10.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.46% of the company's stock.

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.