Alpine Income Property Trust, Inc. $PINE Stock Position Lifted by Crossingbridge Advisors LLC

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 lifted its holdings 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 (SEC). The institutional investor owned 112,674 shares of the company's stock after buying an additional 20,694 shares during the quarter. Alpine Income Property Trust accounts for 0.9% of Crossingbridge Advisors LLC's portfolio, making the stock its 25th biggest holding. Crossingbridge Advisors LLC owned 0.79% of Alpine Income Property Trust worth $1,872,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Sound Income Strategies LLC lifted its position in shares of Alpine Income Property Trust by 9.6% in 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. State of New Jersey Common Pension Fund D lifted its position in Alpine Income Property Trust by 2.6% during the first quarter. State of New Jersey Common Pension Fund D now owns 193,703 shares of the company's stock worth $3,239,000 after buying an additional 5,000 shares during the period. Nuveen Asset Management LLC lifted its position in 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 worth $2,929,000 after buying an additional 97,910 shares during the period. Dimensional Fund Advisors LP lifted its position in Alpine Income Property Trust by 3.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 133,173 shares of the company's stock worth $2,236,000 after buying an additional 3,917 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in Alpine Income Property Trust during the fourth quarter worth about $2,130,000. 60.50% of the stock is currently owned by hedge funds and other institutional investors.

Alpine Income Property Trust Trading Up 0.1%

NYSE:PINE traded up $0.01 on Tuesday, hitting $15.16. 11,327 shares of the stock were exchanged, compared to its average volume of 83,378. The stock has a market cap of $214.62 million, a PE ratio of -302.86, a PEG ratio of 1.44 and a beta of 0.63. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.40. The stock has a fifty day moving average of $14.60 and a 200-day moving average of $15.42. Alpine Income Property Trust, Inc. has a fifty-two week low of $13.95 and a fifty-two week high of $19.42.

Alpine Income Property Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Thursday, September 11th will be paid a $0.285 dividend. The ex-dividend date is Thursday, September 11th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 7.5%. Alpine Income Property Trust's dividend payout ratio (DPR) is -2,280.00%.

Insider Buying and Selling

In other Alpine Income Property Trust news, CEO John P. Albright purchased 3,500 shares of Alpine Income Property Trust stock in a transaction that occurred on 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 completion of the acquisition, the chief executive officer owned 11,444 shares of the company's stock, valued at approximately $162,504.80. This trade represents a 44.06% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.46% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PINE. 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. 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. 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. Finally, Alliance Global Partners reiterated a "buy" rating on shares of Alpine Income Property Trust in a research report on Friday, July 25th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Alpine Income Property Trust presently has an average rating of "Moderate Buy" and an average target price of $18.42.

Alpine Income Property Trust Company 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.