Arrowstreet Capital Limited Partnership Purchases 26,305 Shares of Alpine Income Property Trust, Inc. (NYSE:PINE)

Arrowstreet Capital Limited Partnership boosted its holdings in Alpine Income Property Trust, Inc. (NYSE:PINE) by 15.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 198,906 shares of the company’s stock after buying an additional 26,305 shares during the period. Arrowstreet Capital Limited Partnership owned 1.39% of Alpine Income Property Trust worth $3,340,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of PINE. Pacific Ridge Capital Partners LLC grew its position in shares of Alpine Income Property Trust by 6.6% during the fourth quarter. Pacific Ridge Capital Partners LLC now owns 297,221 shares of the company’s stock worth $4,990,000 after purchasing an additional 18,293 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in 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 purchasing an additional 43,712 shares during the period. Cottage Street Advisors LLC grew its holdings in Alpine Income Property Trust by 124.9% during the 4th quarter. Cottage Street Advisors LLC now owns 43,437 shares of the company’s stock valued at $729,000 after buying an additional 24,127 shares in the last quarter. Sei Investments Co. bought a new stake in shares of Alpine Income Property Trust during the fourth quarter valued at approximately $219,000. Finally, Thrivent Financial for Lutherans purchased a new position in shares of Alpine Income Property Trust in the fourth quarter worth $493,000. 60.50% of the stock is owned by institutional investors.

Alpine Income Property Trust Stock Performance

Alpine Income Property Trust stock opened at $15.16 on Wednesday. The company’s 50-day moving average price is $16.43 and its 200-day moving average price is $17.05. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.09. The company has a market cap of $222.79 million, a PE ratio of 108.31, a price-to-earnings-growth ratio of 1.58 and a beta of 0.57. Alpine Income Property Trust, Inc. has a twelve month low of $14.33 and a twelve month high of $19.42.

Alpine Income Property Trust (NYSE:PINE) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.44 earnings per share (EPS) 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%. On average, equities research analysts forecast that Alpine Income Property Trust, Inc. will post 1.74 EPS 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. Shareholders of record on Thursday, March 13th were paid a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 7.52%. This is a positive change from Alpine Income Property Trust’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Thursday, March 13th. Alpine Income Property Trust’s payout ratio is presently 814.29%.

Insider Buying and Selling at Alpine Income Property Trust

In other Alpine Income Property Trust news, Director Andrew C. Richardson sold 2,000 shares of the business’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 transaction of $33,280.00. Following the completion of the transaction, the director now owns 17,143 shares in the company, valued at $285,259.52. The trade was a 10.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.74% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus reduced 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 report on Thursday, April 3rd. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Alpine Income Property Trust has a consensus rating of “Moderate Buy” and an average price target of $19.14.

About Alpine Income Property Trust

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.