Martingale Asset Management L P Has $330,000 Position in Alpine Income Property Trust, Inc. $PINE

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 lowered its position in shares of Alpine Income Property Trust, Inc. (NYSE:PINE - Free Report) by 58.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,757 shares of the company's stock after selling 28,353 shares during the quarter. Martingale Asset Management L P owned 0.14% of Alpine Income Property Trust worth $330,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Deutsche Bank AG grew its holdings in Alpine Income Property Trust by 1.6% during the first quarter. Deutsche Bank AG now owns 44,161 shares of the company's stock valued at $738,000 after purchasing an additional 703 shares during the period. Rhumbline Advisers boosted its holdings in shares of Alpine Income Property Trust by 3.7% in the first quarter. Rhumbline Advisers now owns 20,652 shares of the company's stock valued at $345,000 after buying an additional 736 shares during the period. Resona Asset Management Co. Ltd. boosted its holdings in shares of Alpine Income Property Trust by 16.6% in the first quarter. Resona Asset Management Co. Ltd. now owns 5,380 shares of the company's stock valued at $89,000 after buying an additional 765 shares during the period. Jump Financial LLC boosted its holdings in shares of Alpine Income Property Trust by 22.6% in the fourth quarter. Jump Financial LLC now owns 12,752 shares of the company's stock valued at $214,000 after buying an additional 2,348 shares during the period. Finally, Ameriflex Group Inc. acquired a new position in shares of Alpine Income Property Trust in the fourth quarter valued at approximately $43,000. Institutional investors and hedge funds own 60.50% of the company's stock.

Insider Activity at Alpine Income Property Trust

In related news, CEO John P. Albright acquired 3,500 shares of the firm's stock in a transaction on Wednesday, August 6th. The shares were purchased at an average cost 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 trade represents a 44.06% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.46% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on PINE shares. 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 report on Wednesday, July 16th. Stifel Nicolaus reduced their price target 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. 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 report on Friday, July 25th. Finally, Alliance Global Partners reiterated a "buy" rating on shares of Alpine Income Property Trust in a report on Friday, July 25th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Alpine Income Property Trust presently has a consensus rating of "Moderate Buy" and a consensus target price of $18.42.

Alpine Income Property Trust Stock Performance

Shares of PINE stock opened at $15.15 on Tuesday. The company's fifty day simple moving average is $14.60 and its 200-day simple moving average is $15.42. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.40. The firm has a market cap of $214.49 million, a PE ratio of -303.00, a P/E/G ratio of 1.44 and a beta of 0.63. Alpine Income Property Trust, Inc. has a 12 month low of $13.95 and a 12 month high of $19.42.

Alpine Income Property Trust Dividend Announcement

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

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.

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