Russell Investments Group Ltd. reduced its position in Alpine Income Property Trust, Inc. (NYSE:PINE - Free Report) by 27.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 332,989 shares of the company's stock after selling 125,378 shares during the quarter. Russell Investments Group Ltd. owned 2.33% of Alpine Income Property Trust worth $5,591,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in PINE. Wells Fargo & Company MN raised its position in shares of Alpine Income Property Trust by 137.1% in the 4th quarter. Wells Fargo & Company MN now owns 13,627 shares of the company's stock worth $229,000 after acquiring an additional 7,879 shares in the last quarter. Resona Asset Management Co. Ltd. bought a new position in Alpine Income Property Trust in the fourth quarter worth about $75,000. Arrowstreet Capital Limited Partnership lifted its position in shares of Alpine Income Property Trust by 15.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 198,906 shares of the company's stock valued at $3,340,000 after buying an additional 26,305 shares during the last quarter. Pacific Ridge Capital Partners LLC boosted its holdings in shares of Alpine Income Property Trust by 6.6% in the 4th quarter. Pacific Ridge Capital Partners LLC now owns 297,221 shares of the company's stock valued at $4,990,000 after buying an additional 18,293 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of Alpine Income Property Trust by 618.4% in the 4th quarter. JPMorgan Chase & Co. now owns 50,780 shares of the company's stock worth $853,000 after buying an additional 43,712 shares during the last quarter. 60.50% of the stock is owned by hedge funds and other institutional investors.
Alpine Income Property Trust Stock Performance
PINE stock traded up $0.08 during midday trading on Friday, reaching $16.49. The stock had a trading volume of 77,905 shares, compared to its average volume of 74,401. The firm has a fifty day simple moving average of $16.29 and a two-hundred day simple moving average of $16.93. Alpine Income Property Trust, Inc. has a 52-week low of $14.51 and a 52-week high of $19.42. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a market cap of $238.64 million, a PE ratio of 117.75, a P/E/G ratio of 1.58 and a beta of 0.57.
Alpine Income Property Trust (NYSE:PINE - Get Free Report) last released its earnings results on Thursday, February 6th. The company reported $0.44 EPS for the quarter, topping analysts' consensus estimates of $0.04 by $0.40. Alpine Income Property Trust had a return on equity of 0.76% and a net margin of 3.96%. As a group, equities research analysts anticipate that Alpine Income Property Trust, Inc. will post 1.74 EPS for the current year.
Alpine Income Property Trust Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 13th were issued a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a dividend yield of 6.92%. The ex-dividend date of this dividend was Thursday, March 13th. This is a boost from Alpine Income Property Trust's previous quarterly dividend of $0.28. Alpine Income Property Trust's dividend payout ratio (DPR) is 814.29%.
Wall Street Analyst Weigh In
Separately, Stifel Nicolaus lowered their target price on shares of Alpine Income Property Trust from $19.50 to $19.25 and set a "buy" rating for the company in a research note on Thursday, April 3rd. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $19.14.
Check Out Our Latest Research Report on Alpine Income Property Trust
Insider Activity
In other news, Director Andrew C. Richardson sold 2,000 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $16.64, for a total value of $33,280.00. Following the transaction, the director now owns 17,143 shares in the company, valued at $285,259.52. This trade represents a 10.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.74% of the company's stock.
Alpine Income Property Trust Profile
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Free Report)
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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