Short Interest in Alpine Income Property Trust, Inc. (NYSE:PINE) Rises By 23.0%

Alpine Income Property Trust, Inc. (NYSE:PINE) saw a large growth in short interest in March. As of March 31st, there was short interest totalling 75,500 shares, a growth of 23.0% from the March 15th total of 61,400 shares. Based on an average daily trading volume, of 87,200 shares, the days-to-cover ratio is presently 0.9 days. Currently, 0.5% of the shares of the company are sold short.

Analysts Set New Price Targets

Separately, Stifel Nicolaus cut their price objective 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 research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $19.28.

Insider Buying and Selling

In other Alpine Income Property Trust news, Director Andrew C. Richardson sold 2,000 shares of the firm’s 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 completion of the transaction, the director now owns 17,143 shares in the company, valued at $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 is available through this hyperlink. 0.74% of the stock is owned by insiders.

Hedge Funds Weigh In On Alpine Income Property Trust

Several institutional investors and hedge funds have recently made changes to their positions in the business. State Street Corp increased its holdings in shares of Alpine Income Property Trust by 18.7% in the third quarter. State Street Corp now owns 272,081 shares of the company’s stock worth $4,952,000 after buying an additional 42,889 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Alpine Income Property Trust during the fourth quarter valued at approximately $2,130,000. JPMorgan Chase & Co. grew its holdings 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 purchasing an additional 1,483 shares during the last quarter. Barclays PLC increased its stake in shares of Alpine Income Property Trust by 282.4% in the third quarter. Barclays PLC now owns 16,411 shares of the company’s stock worth $299,000 after buying an additional 12,119 shares during the period. Finally, Cottage Street Advisors LLC raised 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 during the last quarter. Institutional investors own 60.50% of the company’s stock.

Alpine Income Property Trust Price Performance

Shares of PINE stock traded down $0.01 during trading on Monday, hitting $16.46. The company had a trading volume of 60,208 shares, compared to its average volume of 74,250. Alpine Income Property Trust has a 52 week low of $14.51 and a 52 week high of $19.42. The stock has a market capitalization of $238.27 million, a price-to-earnings ratio of 117.57, a price-to-earnings-growth ratio of 1.58 and a beta of 0.57. 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 stock’s 50-day moving average is $16.29 and its two-hundred day moving average is $16.92.

Alpine Income Property Trust (NYSE:PINE) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.44 earnings per share for the quarter, beating 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 will post 1.74 EPS for the current fiscal year.

Alpine Income Property Trust Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 13th were given a dividend of $0.285 per share. This is a boost from Alpine Income Property Trust’s previous quarterly dividend of $0.28. This represents a $1.14 dividend on an annualized basis and a yield of 6.93%. The ex-dividend date was Thursday, March 13th. Alpine Income Property Trust’s dividend payout ratio (DPR) is presently 814.29%.

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.