Martingale Asset Management L P Increases Stake in Alpine Income Property Trust, Inc. (NYSE:PINE)

Martingale Asset Management L P lifted its position in Alpine Income Property Trust, Inc. (NYSE:PINE - Free Report) by 98.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 48,110 shares of the company's stock after buying an additional 23,880 shares during the period. Martingale Asset Management L P owned approximately 0.34% of Alpine Income Property Trust worth $808,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Public Employees Retirement System of Ohio bought a new position in Alpine Income Property Trust in the 3rd quarter worth $64,000. PNC Financial Services Group Inc. lifted its position in shares of Alpine Income Property Trust by 25.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,282 shares of the company's stock valued at $72,000 after buying an additional 867 shares in the last quarter. Resona Asset Management Co. Ltd. bought a new position in shares of Alpine Income Property Trust during the 4th quarter valued at approximately $75,000. JPMorgan Chase & Co. increased its holdings 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 acquiring an additional 1,483 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in Alpine Income Property Trust in the 3rd quarter worth approximately $200,000. Institutional investors own 60.50% of the company's stock.

Wall Street Analyst Weigh In

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 for the company in a research report on Thursday, April 3rd. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $19.14.

Alpine Income Property Trust Price Performance

PINE traded up $0.08 during trading on Friday, hitting $16.49. 77,905 shares of the company traded hands, compared to its average volume of 74,398. The company 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, Inc. has a 1 year low of $14.33 and a 1 year high of $19.42. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.09. The stock's 50-day simple moving average is $16.28 and its two-hundred day simple moving average is $16.94.

Alpine Income Property Trust (NYSE:PINE - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.44 earnings per share for the quarter, beating 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, sell-side analysts anticipate 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 company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders 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%. This is a boost from Alpine Income Property Trust's previous quarterly dividend of $0.28. The ex-dividend date was Thursday, March 13th. Alpine Income Property Trust's dividend payout ratio is 814.29%.

Insider Activity

In related news, Director Andrew C. Richardson sold 2,000 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $16.64, for a total value of $33,280.00. Following the completion of the transaction, the director now owns 17,143 shares of the company's stock, valued at approximately $285,259.52. This trade represents a 10.45 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.74% of the company's stock.

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.