Crossingbridge Advisors LLC Boosts Stock Position in Alpine Income Property Trust, Inc. $PINE

Key Points

• Crossingbridge Advisors LLC increased its ownership in Alpine Income Property Trust by 22.5%, now holding 112,674 shares worth approximately $1.87 million.
• Insider trading activity shows CEO John P. Albright purchased 3,500 shares at an average price of $14.20, boosting his total ownership by 44.06%.
• Alpine Income Property Trust announced a quarterly dividend of $0.285, yielding 7.6%, with the dividend payout ratio reported at -2,280.00%.

Crossingbridge Advisors LLC raised its stake in Alpine Income Property Trust, Inc. (NYSE:PINE - Free Report) by 22.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 112,674 shares of the company's stock after acquiring an additional 20,694 shares during the period. Alpine Income Property Trust makes up 0.9% of Crossingbridge Advisors LLC's portfolio, making the stock its 25th biggest position. Crossingbridge Advisors LLC owned approximately 0.79% of Alpine Income Property Trust worth $1,872,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently modified their holdings of the stock. GAMMA Investing LLC grew its position in Alpine Income Property Trust by 9,844.7% during the 1st quarter. GAMMA Investing LLC now owns 3,779 shares of the company's stock valued at $63,000 after purchasing an additional 3,741 shares during the last quarter. Deutsche Bank AG lifted its stake in shares of Alpine Income Property Trust by 84.2% in the fourth quarter. Deutsche Bank AG now owns 43,458 shares of the company's stock worth $730,000 after buying an additional 19,867 shares in the last quarter. Nuveen Asset Management LLC grew its holdings in shares of Alpine Income Property Trust by 127.9% during the fourth quarter. Nuveen Asset Management LLC now owns 174,465 shares of the company's stock valued at $2,929,000 after buying an additional 97,910 shares during the last quarter. D. E. Shaw & Co. Inc. increased its position in shares of Alpine Income Property Trust by 125.2% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 83,372 shares of the company's stock valued at $1,400,000 after acquiring an additional 46,353 shares in the last quarter. Finally, Sound Income Strategies LLC increased its position in shares of Alpine Income Property Trust by 9.6% during the first quarter. Sound Income Strategies LLC now owns 950,536 shares of the company's stock valued at $15,893,000 after acquiring an additional 83,620 shares in the last quarter. Hedge funds and other institutional investors own 60.50% of the company's stock.

Insider Activity

In other Alpine Income Property Trust news, CEO John P. Albright purchased 3,500 shares of Alpine Income Property Trust stock in a transaction dated Wednesday, August 6th. The stock was purchased at an average price of $14.20 per share, with a total value of $49,700.00. Following the transaction, the chief executive officer directly owned 11,444 shares of the company's stock, valued at $162,504.80. This trade represents a 44.06% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.46% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

PINE has been the topic of several analyst reports. Industrial Alliance Securities set a $19.00 price objective on Alpine Income Property Trust in a research report on Friday, April 25th. Stifel Nicolaus decreased their price target on Alpine Income Property Trust from $18.50 to $17.50 and set a "buy" rating for the company in a research note on Friday, July 25th. Jones Trading dropped their price objective 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 price objective on Alpine Income Property Trust from $16.00 to $15.00 and set a "neutral" rating for the company in a report on Wednesday, July 16th. Finally, Alliance Global Partners restated a "buy" rating on shares of Alpine Income Property Trust in a research note on Friday, July 25th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $18.42.

Alpine Income Property Trust Price Performance

NYSE PINE opened at $14.9260 on Thursday. The stock has a market capitalization of $211.35 million, a price-to-earnings ratio of -298.52, a PEG ratio of 1.41 and a beta of 0.63. Alpine Income Property Trust, Inc. has a 1-year low of $13.95 and a 1-year high of $19.42. 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 business's fifty day moving average price is $14.59 and its 200-day moving average price is $15.48.

Alpine Income Property Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Thursday, September 11th will be given a $0.285 dividend. This represents a $1.14 annualized dividend and a yield of 7.6%. The ex-dividend date of this dividend is Thursday, September 11th. Alpine Income Property Trust's dividend payout ratio (DPR) is presently -2,280.00%.

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.

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