Acadian Asset Management LLC Invests $1.11 Million in Alpine Income Property Trust, Inc. $PINE

Key Points

• Acadian Asset Management LLC acquired a significant stake in Alpine Income Property Trust, purchasing 66,643 shares valued at approximately $1,112,000, representing about 0.47% of the company.
• Analysts have adjusted their price targets for Alpine Income Property Trust, with UBS lowering its target to $15.00 and Stifel Nicolaus adjusting it to $17.50, while maintaining a "buy" rating.
• The company announced a quarterly dividend of $0.285 per share, with a yield of 7.8%, indicating strong cash returns to investors despite a high dividend payout ratio of -2,280.00%.

Acadian Asset Management LLC purchased a new position in Alpine Income Property Trust, Inc. (NYSE:PINE - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 66,643 shares of the company's stock, valued at approximately $1,112,000. Acadian Asset Management LLC owned approximately 0.47% of Alpine Income Property Trust at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Deutsche Bank AG raised its position in shares of Alpine Income Property Trust by 1.6% in the 1st quarter. Deutsche Bank AG now owns 44,161 shares of the company's stock worth $738,000 after acquiring an additional 703 shares in the last quarter. Rhumbline Advisers raised its position in shares of Alpine Income Property Trust by 3.7% in the 1st quarter. Rhumbline Advisers now owns 20,652 shares of the company's stock worth $345,000 after acquiring an additional 736 shares in the last quarter. Resona Asset Management Co. Ltd. raised its position in shares of Alpine Income Property Trust by 16.6% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 5,380 shares of the company's stock worth $89,000 after acquiring an additional 765 shares in the last quarter. Ameriflex Group Inc. bought a new position in shares of Alpine Income Property Trust in the 4th quarter worth $43,000. Finally, BNP Paribas Financial Markets bought a new position in shares of Alpine Income Property Trust in the 4th quarter worth $44,000. 60.50% of the stock is owned by institutional investors.

Alpine Income Property Trust Stock Performance

Alpine Income Property Trust stock traded down $0.15 during trading hours on Friday, hitting $14.49. 153,161 shares of the stock traded hands, compared to its average volume of 67,882. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.85 and a quick ratio of 0.85. The firm's 50 day moving average price is $14.68 and its 200-day moving average price is $15.23. The stock has a market capitalization of $205.18 million, a price-to-earnings ratio of -289.80, a P/E/G ratio of 1.37 and a beta of 0.64. Alpine Income Property Trust, Inc. has a 1 year low of $13.95 and a 1 year high of $18.75.

Alpine Income Property Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Thursday, September 11th will be paid a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 7.9%. The ex-dividend date is Thursday, September 11th. Alpine Income Property Trust's payout ratio is presently -2,280.00%.

Analyst Upgrades and Downgrades

PINE has been the topic of several recent analyst reports. Alliance Global Partners reaffirmed a "buy" rating on shares of Alpine Income Property Trust in a research report on Friday, July 25th. Jones Trading reduced their target price on Alpine Income Property Trust from $20.00 to $19.00 and set a "buy" rating on the stock in a research report on Friday, July 25th. UBS Group reduced their target price on Alpine Income Property Trust from $16.00 to $15.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 16th. Finally, Stifel Nicolaus reduced their target price on Alpine Income Property Trust from $18.50 to $17.50 and set a "buy" rating on the stock in a research report on Friday, July 25th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $18.42.

Insiders Place Their Bets

In other news, CEO John P. Albright purchased 3,500 shares of the company's stock in a transaction on Wednesday, August 6th. The shares were acquired at an average price of $14.20 per share, for a total transaction of $49,700.00. Following the purchase, the chief executive officer owned 11,444 shares in the company, valued at $162,504.80. This trade represents a 44.06% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.