Cubist Systematic Strategies LLC Sells 37,537 Shares of Alpine Income Property Trust, Inc. $PINE

Key Points

• Cubist Systematic Strategies LLC has reduced its holdings in Alpine Income Property Trust by 60.4%, now owning 24,563 shares valued at $411,000.
• Several institutional investors have increased their stakes in Alpine Income Property Trust, with GAMMA Investing LLC leading the way with a 9,844.7% increase.
• The company's CEO, John P. Albright, has purchased an additional 3,500 shares at an average price of $14.20, raising his total ownership to 11,444 shares.

Cubist Systematic Strategies LLC trimmed its position in Alpine Income Property Trust, Inc. (NYSE:PINE - Free Report) by 60.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,563 shares of the company's stock after selling 37,537 shares during the quarter. Cubist Systematic Strategies LLC owned approximately 0.17% of Alpine Income Property Trust worth $411,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Sound Income Strategies LLC boosted its holdings 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 worth $15,893,000 after buying an additional 83,620 shares during the period. State of New Jersey Common Pension Fund D boosted its holdings in shares of Alpine Income Property Trust by 2.6% in 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. Truvestments Capital LLC boosted its holdings in shares of Alpine Income Property Trust by 2,385.0% in the first quarter. Truvestments Capital LLC now owns 192,363 shares of the company's stock worth $3,216,000 after buying an additional 184,622 shares during the period. Nuveen Asset Management LLC boosted its holdings in shares of Alpine Income Property Trust by 127.9% in 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. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Alpine Income Property Trust by 3.0% in 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. 60.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have commented on PINE shares. Stifel Nicolaus decreased their target price on shares of Alpine Income Property Trust from $18.50 to $17.50 and set a "buy" rating for the company in a report on Friday, July 25th. Alliance Global Partners reissued a "buy" rating on shares of Alpine Income Property Trust in a research report on Friday, July 25th. UBS Group reduced their price target on shares of Alpine Income Property Trust from $16.00 to $15.00 and set a "neutral" rating for the company in a research report on Wednesday, July 16th. Finally, Jones Trading reduced their price target on shares of Alpine Income Property Trust from $20.00 to $19.00 and set a "buy" rating for the company in a research report on Friday, July 25th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $18.42.

Alpine Income Property Trust Stock Down 1.4%

PINE traded down $0.20 during midday trading on Tuesday, hitting $14.52. 57,111 shares of the company's stock traded hands, compared to its average volume of 66,402. The company has a market cap of $205.60 million, a PE ratio of -290.40, a price-to-earnings-growth ratio of 1.39 and a beta of 0.64. The stock's fifty day simple moving average is $14.68 and its 200-day simple moving average is $15.28. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.85 and a quick ratio of 0.85. Alpine Income Property Trust, Inc. has a one year low of $13.95 and a one year high of $18.79.

Alpine Income Property Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Thursday, September 11th will be given a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 7.9%. 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%.

Insiders Place Their Bets

In other Alpine Income Property Trust news, CEO John P. Albright acquired 3,500 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The shares were purchased at an average price of $14.20 per share, with a total value of $49,700.00. Following the completion of the transaction, the chief executive officer owned 11,444 shares in the company, valued at $162,504.80. The trade was a 44.06% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed 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.