Alpine Income Property Trust, Inc. (NYSE:PINE) Short Interest Update

Alpine Income Property Trust, Inc. (NYSE:PINE) saw a significant decrease in short interest in the month of January. As of January 31st, there was short interest totalling 44,900 shares, a decrease of 28.3% from the January 15th total of 62,600 shares. Based on an average daily volume of 98,600 shares, the days-to-cover ratio is currently 0.5 days.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on PINE shares. Robert W. Baird upped their price target on shares of Alpine Income Property Trust from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Stifel Nicolaus upped their price target on shares of Alpine Income Property Trust from $19.75 to $20.25 and gave the company a “buy” rating in a research note on Monday, October 21st. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $19.25.

Alpine Income Property Trust Stock Performance

Shares of PINE stock traded down $0.06 on Friday, hitting $16.44. The company’s stock had a trading volume of 54,765 shares, compared to its average volume of 89,207. The company has a market capitalization of $241.54 million, a PE ratio of 117.43, a PEG ratio of 1.61 and a beta of 0.80. The company has a debt-to-equity ratio of 1.03, a quick ratio of 3.85 and a current ratio of 3.85. Alpine Income Property Trust has a fifty-two week low of $14.32 and a fifty-two week high of $19.42. The stock’s 50 day moving average is $16.73 and its 200-day moving average is $17.48.

Alpine Income Property Trust (NYSE:PINE) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.44 earnings per share (EPS) 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%. Equities research analysts expect that Alpine Income Property Trust will post 1.78 earnings per share for the current fiscal year.

Alpine Income Property Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 13th will be paid a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a yield of 6.93%. This is an increase from Alpine Income Property Trust’s previous quarterly dividend of $0.28. The ex-dividend date is Thursday, March 13th. Alpine Income Property Trust’s dividend payout ratio is presently 814.29%.

Insider Activity

In other news, Director Wein Rachel Elias sold 2,000 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $18.00, for a total value of $36,000.00. Following the transaction, the director now directly owns 9,492 shares of the company’s stock, valued at $170,856. This represents a 17.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.74% of the company’s stock.

Institutional Investors Weigh In On Alpine Income Property Trust

A number of large investors have recently bought and sold shares of PINE. Public Employees Retirement System of Ohio acquired a new stake in Alpine Income Property Trust during the third quarter worth about $64,000. PNC Financial Services Group Inc. grew its stake in Alpine Income Property Trust by 25.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,282 shares of the company’s stock worth $72,000 after buying an additional 867 shares in the last quarter. Resona Asset Management Co. Ltd. acquired a new stake in Alpine Income Property Trust during the fourth quarter worth about $75,000. JPMorgan Chase & Co. boosted its stake in shares of Alpine Income Property Trust by 26.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 7,068 shares of the company’s stock valued at $129,000 after purchasing an additional 1,483 shares in the last quarter. Finally, Truvestments Capital LLC acquired a new stake in shares of Alpine Income Property Trust in the 3rd quarter valued at approximately $143,000. 60.50% of the stock is currently 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.