Heartland Advisors Inc. Trims Holdings in Alpine Income Property Trust, Inc. (NYSE:PINE)

Key Points

• Heartland Advisors Inc. reduced its stake in Alpine Income Property Trust by 12.3%, holding 553,030 shares valued at approximately $9.25 million by the end of the 1st quarter.
• Several institutional investors significantly increased their holdings in Alpine Income Property Trust, with GAMMA Investing LLC raising its stake by an astonishing 9,844.7%.
• Alpine Income Property Trust announced a quarterly dividend of $0.285 per share, which represents an annualized dividend yield of 7.98% despite a high dividend payout ratio of -2,280.00%.

Heartland Advisors Inc. reduced its position in shares of Alpine Income Property Trust, Inc. (NYSE:PINE - Free Report) by 12.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 553,030 shares of the company's stock after selling 77,720 shares during the quarter. Heartland Advisors Inc. owned about 3.88% of Alpine Income Property Trust worth $9,247,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in PINE. Ameriflex Group Inc. bought a new position in shares of Alpine Income Property Trust in the fourth quarter valued at approximately $43,000. BNP Paribas Financial Markets bought a new position in shares of Alpine Income Property Trust in the fourth quarter valued at approximately $44,000. GAMMA Investing LLC lifted its holdings in shares of Alpine Income Property Trust by 9,844.7% in the first 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 in the last quarter. Resona Asset Management Co. Ltd. bought a new position in shares of Alpine Income Property Trust in the fourth quarter valued at approximately $75,000. Finally, Virtus Investment Advisers Inc. bought a new position in shares of Alpine Income Property Trust in the fourth quarter valued at approximately $94,000. 60.50% of the stock is owned by institutional investors and hedge funds.

Alpine Income Property Trust Stock Performance

NYSE:PINE traded down $0.15 during trading hours on Wednesday, reaching $14.37. The stock had a trading volume of 27,516 shares, compared to its average volume of 84,671. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a 50 day simple moving average of $14.85 and a 200 day simple moving average of $15.72. Alpine Income Property Trust, Inc. has a 12-month low of $13.95 and a 12-month high of $19.42. The stock has a market cap of $203.48 million, a P/E ratio of -287.30, a price-to-earnings-growth ratio of 1.32 and a beta of 0.58.

Alpine Income Property Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Thursday, June 12th were given a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 7.93%. The ex-dividend date of this dividend was Thursday, June 12th. Alpine Income Property Trust's dividend payout ratio is currently -2,280.00%.

Analyst Upgrades and Downgrades

PINE has been the topic of a number of recent analyst reports. Industrial Alliance Securities set a $19.00 price target on Alpine Income Property Trust in a report on Friday, April 25th. UBS Group dropped their price target on Alpine Income Property Trust from $16.00 to $15.00 and set a "neutral" rating on the stock in a report on Wednesday, July 16th. Stifel Nicolaus dropped their price target on Alpine Income Property Trust from $18.50 to $17.50 and set a "buy" rating on the stock in a report on Friday, July 25th. Alliance Global Partners reiterated a "buy" rating on shares of Alpine Income Property Trust in a report on Friday. Finally, Jones Trading dropped their price target on Alpine Income Property Trust from $20.00 to $19.00 and set a "buy" rating on the stock in a report on Friday, July 25th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $18.44.

Alpine Income Property Trust 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.