Arrowstreet Capital Limited Partnership Raises Stake in Alpine Income Property Trust, Inc. (NYSE:PINE)

Arrowstreet Capital Limited Partnership raised its holdings in Alpine Income Property Trust, Inc. (NYSE:PINE - Free Report) by 15.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 198,906 shares of the company's stock after buying an additional 26,305 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 1.39% of Alpine Income Property Trust worth $3,340,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in PINE. State Street Corp boosted its holdings in shares of Alpine Income Property Trust by 18.7% in the 3rd quarter. State Street Corp now owns 272,081 shares of the company's stock valued at $4,952,000 after acquiring an additional 42,889 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Alpine Income Property Trust in the fourth quarter valued at $2,130,000. JPMorgan Chase & Co. grew its position in Alpine Income Property Trust by 26.6% during 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 during the period. Barclays PLC raised its stake in shares of Alpine Income Property Trust by 282.4% during the 3rd quarter. Barclays PLC now owns 16,411 shares of the company's stock valued at $299,000 after buying an additional 12,119 shares during the last quarter. Finally, Cottage Street Advisors LLC boosted its stake in shares of Alpine Income Property Trust by 124.9% in the fourth quarter. Cottage Street Advisors LLC now owns 43,437 shares of the company's stock worth $729,000 after buying an additional 24,127 shares during the last quarter. Institutional investors and hedge funds own 60.50% of the company's stock.

Insider Activity

In other news, Director Andrew C. Richardson sold 2,000 shares of the firm's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $16.64, for a total value of $33,280.00. Following the sale, the director now directly owns 17,143 shares in the company, valued at approximately $285,259.52. This trade represents a 10.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.74% of the company's stock.

Alpine Income Property Trust Trading Up 2.3 %

PINE traded up $0.35 during mid-day trading on Monday, hitting $15.78. 2,957 shares of the stock were exchanged, compared to its average volume of 73,982. The firm's fifty day moving average is $16.32 and its two-hundred day moving average is $16.98. Alpine Income Property Trust, Inc. has a 1-year low of $14.33 and a 1-year high of $19.42. The company has a market cap of $228.43 million, a PE ratio of 112.71, a PEG ratio of 1.58 and a beta of 0.57. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.09.

Alpine Income Property Trust (NYSE:PINE - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.40. Alpine Income Property Trust had a net margin of 3.96% and a return on equity of 0.76%. Equities analysts forecast that Alpine Income Property Trust, Inc. will post 1.74 earnings per share for the current fiscal year.

Alpine Income Property Trust Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 13th were given a $0.285 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $1.14 dividend on an annualized basis and a yield of 7.22%. This is a positive change from Alpine Income Property Trust's previous quarterly dividend of $0.28. Alpine Income Property Trust's dividend payout ratio (DPR) is currently 814.29%.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus dropped their price target on shares of Alpine Income Property Trust from $19.50 to $19.25 and set a "buy" rating on the stock in a research report on Thursday, April 3rd. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Alpine Income Property Trust currently has an average rating of "Moderate Buy" and an average target price of $19.14.

Alpine Income Property Trust Company 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.