Cubist Systematic Strategies LLC Lowers Position in 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 lowered its position in shares of Alpine Income Property Trust, Inc. (NYSE:PINE - Free Report) by 60.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 24,563 shares of the company's stock after selling 37,537 shares during the period. Cubist Systematic Strategies LLC owned about 0.17% of Alpine Income Property Trust worth $411,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PINE. Ameriflex Group Inc. bought a new stake in Alpine Income Property Trust during the 4th quarter worth $43,000. BNP Paribas Financial Markets bought a new stake in Alpine Income Property Trust during the 4th quarter worth $44,000. 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 worth $63,000 after acquiring an additional 3,741 shares during the last quarter. Resona Asset Management Co. Ltd. grew its position in Alpine Income Property Trust by 16.6% during 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 during the last quarter. Finally, Virtus Investment Advisers Inc. bought a new stake in Alpine Income Property Trust during the 4th quarter worth $94,000. Institutional investors own 60.50% of the company's stock.

Insiders Place Their Bets

In other news, CEO John P. Albright purchased 3,500 shares of the company's stock in a transaction that occurred on Wednesday, August 6th. The shares were acquired at an average cost of $14.20 per share, with a total value of $49,700.00. Following the purchase, the chief executive officer owned 11,444 shares in the company, valued at $162,504.80. This represents a 44.06% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.46% of the company's stock.

Alpine Income Property Trust Trading Down 1.5%

Shares of Alpine Income Property Trust stock traded down $0.23 on Friday, hitting $14.66. 48,104 shares of the company's stock traded hands, compared to its average volume of 68,973. The company has a fifty day moving average of $14.68 and a two-hundred day moving average of $15.31. Alpine Income Property Trust, Inc. has a one year low of $13.95 and a one year high of $18.79. 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 company has a market capitalization of $207.56 million, a price-to-earnings ratio of -293.20, a price-to-earnings-growth ratio of 1.41 and a beta of 0.64.

Alpine Income Property Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Thursday, September 11th will be paid a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a yield of 7.8%. The ex-dividend date of this dividend is Thursday, September 11th. Alpine Income Property Trust's dividend payout ratio is -2,280.00%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on PINE shares. Stifel Nicolaus reduced their price objective 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. Alliance Global Partners reiterated a "buy" rating on shares of Alpine Income Property Trust in a research report on Friday, July 25th. Jones Trading reduced their price target 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. Finally, UBS Group reduced their price target 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. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Alpine Income Property Trust presently has an average rating of "Moderate Buy" and a consensus price target 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.