Crossingbridge Advisors LLC Acquires New Shares in Alpine Income Property Trust, Inc. (NYSE:PINE)

Crossingbridge Advisors LLC bought a new position in Alpine Income Property Trust, Inc. (NYSE:PINE) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 91,980 shares of the company’s stock, valued at approximately $1,544,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. PNC Financial Services Group Inc. boosted its position in shares of Alpine Income Property Trust by 25.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,282 shares of the company’s stock valued at $72,000 after acquiring an additional 867 shares during the period. JPMorgan Chase & Co. raised its position in shares of Alpine Income Property Trust by 26.6% in the third quarter. JPMorgan Chase & Co. now owns 7,068 shares of the company’s stock worth $129,000 after buying an additional 1,483 shares in the last quarter. Tidal Investments LLC boosted its stake in Alpine Income Property Trust by 7.4% during the third quarter. Tidal Investments LLC now owns 22,906 shares of the company’s stock valued at $417,000 after buying an additional 1,578 shares during the period. Charles Schwab Investment Management Inc. grew its position in Alpine Income Property Trust by 5.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 36,157 shares of the company’s stock worth $607,000 after buying an additional 1,977 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in shares of Alpine Income Property Trust by 11.7% in the 4th quarter. Rhumbline Advisers now owns 19,916 shares of the company’s stock valued at $334,000 after acquiring an additional 2,081 shares in the last quarter. Hedge funds and other institutional investors own 60.50% of the company’s stock.

Insider Activity at Alpine Income Property Trust

In other Alpine Income Property Trust news, Director Andrew C. Richardson sold 2,000 shares of the company’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 completion of the transaction, the director now directly owns 17,143 shares in the company, valued at approximately $285,259.52. This 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 the SEC website. 0.46% of the stock is owned by company insiders.

Alpine Income Property Trust Price Performance

PINE opened at $15.52 on Friday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.94 and a quick ratio of 0.94. Alpine Income Property Trust, Inc. has a 1 year low of $14.51 and a 1 year high of $19.42. The stock’s 50 day simple moving average is $16.27 and its 200 day simple moving average is $16.89. The firm has a market cap of $224.67 million, a price-to-earnings ratio of 110.86, a PEG ratio of 1.58 and a beta of 0.57.

Alpine Income Property Trust (NYSE:PINE) last issued its earnings results on Thursday, February 6th. The company reported $0.44 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%. As a group, analysts predict that Alpine Income Property Trust, Inc. will post 1.74 earnings per share 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 paid a $0.285 dividend. 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. This represents a $1.14 annualized dividend and a dividend yield of 7.35%. Alpine Income Property Trust’s dividend payout ratio (DPR) is presently 814.29%.

Analysts Set New Price Targets

Several research analysts recently weighed in on PINE shares. Industrial Alliance Securities set a $19.00 price objective on shares of Alpine Income Property Trust in a research report on Friday. Stifel Nicolaus dropped their price objective on shares of Alpine Income Property Trust from $19.25 to $18.75 and set a “buy” rating for the company in a report on Friday. Jones Trading cut their target price on shares of Alpine Income Property Trust from $22.00 to $20.00 and set a “buy” rating for the company in a research report on Friday. Finally, Alliance Global Partners restated a “buy” rating on shares of Alpine Income Property Trust in a research report on Friday. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Alpine Income Property Trust presently has an average rating of “Moderate Buy” and a consensus price target of $19.31.

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.