Alpine Income Property Trust, Inc. $PINE Shares Sold by Martingale Asset Management L P

Key Points

• Martingale Asset Management L P has significantly decreased its holdings in Alpine Income Property Trust by 58.9%, now owning 19,757 shares, valued at approximately $330,000.
• CEO John P. Albright increased his ownership by 44.06% after acquiring 3,500 shares at an average cost of $14.20 per share, bringing his total to 11,444 shares.
• Alpine Income Property Trust has announced a quarterly dividend of $0.285, which equates to an annual yield of 7.5%, with the ex-dividend date on September 11th.

Martingale Asset Management L P decreased its holdings in Alpine Income Property Trust, Inc. (NYSE:PINE - Free Report) by 58.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,757 shares of the company's stock after selling 28,353 shares during the period. Martingale Asset Management L P owned 0.14% of Alpine Income Property Trust worth $330,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Deutsche Bank AG lifted its position in Alpine Income Property Trust by 1.6% in the first quarter. Deutsche Bank AG now owns 44,161 shares of the company's stock worth $738,000 after buying an additional 703 shares during the last quarter. Rhumbline Advisers lifted its position in Alpine Income Property Trust by 3.7% in the first quarter. Rhumbline Advisers now owns 20,652 shares of the company's stock worth $345,000 after buying an additional 736 shares during the last quarter. Resona Asset Management Co. Ltd. lifted its holdings in shares of Alpine Income Property Trust by 16.6% in 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. Jump Financial LLC lifted its holdings in shares of Alpine Income Property Trust by 22.6% in the 4th quarter. Jump Financial LLC now owns 12,752 shares of the company's stock worth $214,000 after acquiring an additional 2,348 shares during the last quarter. Finally, Ameriflex Group Inc. bought a new stake in shares of Alpine Income Property Trust in the 4th quarter worth about $43,000. Institutional investors own 60.50% of the company's stock.

Insider Buying and Selling at Alpine Income Property Trust

In related news, CEO John P. Albright bought 3,500 shares of the stock in a transaction on Wednesday, August 6th. The stock was bought at an average price of $14.20 per share, for a total transaction of $49,700.00. Following the completion of the acquisition, the chief executive officer directly owned 11,444 shares in the company, valued at approximately $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 the SEC website. Insiders own 0.46% of the company's stock.

Alpine Income Property Trust Trading Up 1.2%

Shares of NYSE PINE traded up $0.18 during trading hours on Friday, reaching $15.29. The stock had a trading volume of 94,316 shares, compared to its average volume of 69,265. 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 firm has a market cap of $216.44 million, a price-to-earnings ratio of -305.70, a P/E/G ratio of 1.44 and a beta of 0.64. The business's fifty day moving average price is $14.62 and its two-hundred day moving average price is $15.39. Alpine Income Property Trust, Inc. has a 52-week low of $13.95 and a 52-week high of $19.42.

Alpine Income Property Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Thursday, September 11th will be given a $0.285 dividend. This represents a $1.14 annualized dividend and a dividend yield of 7.5%. The ex-dividend date of this dividend is Thursday, September 11th. Alpine Income Property Trust's dividend payout ratio is presently -2,280.00%.

Wall Street Analyst Weigh In

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

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.