Man Group plc Buys New Stake in Alpine Income Property Trust, Inc. (NYSE:PINE)

Man Group plc purchased a new position in shares of Alpine Income Property Trust, Inc. (NYSE:PINE - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 66,525 shares of the company's stock, valued at approximately $1,117,000. Man Group plc owned about 0.47% of Alpine Income Property Trust as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. BNP Paribas Financial Markets acquired a new position in shares of Alpine Income Property Trust during the 4th quarter worth about $44,000. PNC Financial Services Group Inc. lifted its stake in Alpine Income Property Trust by 25.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,282 shares of the company's stock worth $72,000 after purchasing an additional 867 shares in the last quarter. Resona Asset Management Co. Ltd. purchased a new position in Alpine Income Property Trust in the 4th quarter worth approximately $75,000. JPMorgan Chase & Co. lifted its stake in Alpine Income Property Trust by 26.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 7,068 shares of the company's stock worth $129,000 after purchasing an additional 1,483 shares in the last quarter. Finally, Hsbc Holdings PLC purchased a new position in Alpine Income Property Trust in the 4th quarter worth approximately $177,000. Institutional investors and hedge funds own 60.50% of the company's stock.

Alpine Income Property Trust Trading Up 0.4%

Shares of PINE stock traded up $0.06 during trading on Thursday, hitting $15.24. 22,249 shares of the stock traded hands, compared to its average volume of 81,349. The firm has a market capitalization of $217.43 million, a P/E ratio of 108.89, a price-to-earnings-growth ratio of 1.58 and a beta of 0.60. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.94 and a quick ratio of 0.94. The firm's fifty day moving average price is $15.70 and its 200-day moving average price is $16.47. Alpine Income Property Trust, Inc. has a 52-week low of $14.51 and a 52-week high of $19.42.

Alpine Income Property Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Thursday, June 12th will be given a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a dividend yield of 7.48%. The ex-dividend date is Thursday, June 12th. Alpine Income Property Trust's payout ratio is presently 1,425.00%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on PINE shares. Alliance Global Partners reissued a "buy" rating on shares of Alpine Income Property Trust in a research note on Friday, April 25th. Industrial Alliance Securities set a $19.00 target price on shares of Alpine Income Property Trust in a research note on Friday, April 25th. UBS Group decreased their target price on shares of Alpine Income Property Trust from $17.00 to $16.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Jones Trading decreased their target price on shares of Alpine Income Property Trust from $22.00 to $20.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Finally, Stifel Nicolaus decreased their target price on shares of Alpine Income Property Trust from $19.25 to $18.75 and set a "buy" rating on the stock in a research note on Friday, April 25th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $18.97.

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.