Alpine Income Property Trust, Inc. (NYSE:PINE) Sees Large Decrease in Short Interest

Alpine Income Property Trust, Inc. (NYSE:PINE) saw a large decline in short interest in February. As of February 28th, there was short interest totalling 42,800 shares, a decline of 21.2% from the February 13th total of 54,300 shares. Based on an average trading volume of 88,800 shares, the days-to-cover ratio is presently 0.5 days. Approximately 0.3% of the shares of the stock are short sold.

Alpine Income Property Trust Price Performance

PINE stock traded up $0.21 during midday trading on Wednesday, reaching $16.53. The stock had a trading volume of 44,104 shares, compared to its average volume of 70,148. The company’s fifty day simple moving average is $16.54 and its 200 day simple moving average is $17.30. 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 company has a market cap of $242.86 million, a price-to-earnings ratio of 117.93, a price-to-earnings-growth ratio of 1.58 and a beta of 0.82. Alpine Income Property Trust has a 52-week low of $14.33 and a 52-week high of $19.42.

Alpine Income Property Trust (NYSE:PINE) last released its earnings results on Thursday, February 6th. The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates 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, sell-side analysts predict that Alpine Income Property Trust will post 1.74 earnings per share for the current fiscal year.

Alpine Income Property Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 13th will be issued a $0.285 dividend. 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 yield of 6.90%. The ex-dividend date of this dividend is Thursday, March 13th. Alpine Income Property Trust’s dividend payout ratio is presently 814.29%.

Insider Buying and Selling

In related news, Director Andrew C. Richardson sold 2,000 shares of Alpine Income Property Trust stock in a transaction dated Monday, February 24th. The stock was 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. The trade was a 10.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.74% of the stock is owned by insiders.

Institutional Trading of Alpine Income Property Trust

A number of hedge funds and other institutional investors have recently modified their holdings of PINE. Ameriflex Group Inc. purchased a new stake in shares of Alpine Income Property Trust in the fourth quarter valued at about $43,000. BNP Paribas Financial Markets acquired a new stake in shares of Alpine Income Property Trust during the 4th quarter worth approximately $44,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Alpine Income Property Trust during the 3rd quarter valued at approximately $64,000. PNC Financial Services Group Inc. lifted its holdings in 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 last quarter. Finally, Resona Asset Management Co. Ltd. purchased a new position in Alpine Income Property Trust in the fourth quarter worth approximately $75,000. 60.50% of the stock is owned by institutional investors and hedge funds.

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.