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

Alpine Income Property Trust, Inc. (NYSE:PINE) was the recipient of a large decrease in short interest in the month of September. As of September 15th, there was short interest totalling 108,800 shares, a decrease of 31.7% from the August 31st total of 159,300 shares. Based on an average daily trading volume, of 61,400 shares, the days-to-cover ratio is presently 1.8 days.

Wall Street Analyst Weigh In

PINE has been the topic of several analyst reports. Raymond James increased their price objective 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 Wednesday, August 21st. Stifel Nicolaus upped their target price on shares of Alpine Income Property Trust from $18.00 to $19.25 and gave the company a “buy” rating in a research note on Friday, July 19th. B. Riley restated a “buy” rating and set a $20.00 price target (up previously from $19.50) on shares of Alpine Income Property Trust in a research note on Wednesday, July 24th. Finally, Truist Financial lifted their price objective on Alpine Income Property Trust from $16.00 to $18.00 and gave the company a “hold” rating in a report on Tuesday, July 30th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.89.

Insider Buying and Selling at Alpine Income Property Trust

In other news, major shareholder Cto Realty Growth, Inc. purchased 6,562 shares of the business’s stock in a transaction dated Tuesday, July 9th. The stock was bought at an average cost of $14.99 per share, with a total value of $98,364.38. Following the purchase, the insider now directly owns 202,918 shares of the company’s stock, valued at $3,041,740.82. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.74% of the company’s stock.

Institutional Investors Weigh In On Alpine Income Property Trust

A number of institutional investors have recently made changes to their positions in the stock. Rhumbline Advisers increased its stake in shares of Alpine Income Property Trust by 8.0% in the 2nd quarter. Rhumbline Advisers now owns 17,197 shares of the company’s stock valued at $268,000 after acquiring an additional 1,272 shares in the last quarter. Tidal Investments LLC increased its stake in Alpine Income Property Trust by 5.8% in the first quarter. Tidal Investments LLC now owns 19,466 shares of the company’s stock valued at $297,000 after purchasing an additional 1,064 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of Alpine Income Property Trust during the second quarter valued at about $352,000. Renaissance Technologies LLC bought a new position in shares of Alpine Income Property Trust during the 2nd quarter worth about $647,000. Finally, Guardian Wealth Management Inc. grew its stake in shares of Alpine Income Property Trust by 3.0% in the 4th quarter. Guardian Wealth Management Inc. now owns 38,927 shares of the company’s stock valued at $658,000 after buying an additional 1,138 shares during the period. Institutional investors own 60.50% of the company’s stock.

Alpine Income Property Trust Stock Performance

Shares of NYSE PINE traded up $0.07 during mid-day trading on Friday, reaching $18.25. 127,513 shares of the company were exchanged, compared to its average volume of 97,853. The stock has a market capitalization of $248.75 million, a P/E ratio of -456.25, a P/E/G ratio of 1.83 and a beta of 0.80. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.00. The company’s 50-day simple moving average is $17.89 and its 200-day simple moving average is $16.26. Alpine Income Property Trust has a twelve month low of $14.25 and a twelve month high of $19.42.

Alpine Income Property Trust (NYSE:PINE) last issued its quarterly earnings data on Thursday, July 18th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.38). The business had revenue of $12.49 million during the quarter, compared to analyst estimates of $12.10 million. Alpine Income Property Trust had a negative return on equity of 0.20% and a negative net margin of 1.16%. During the same quarter last year, the firm earned $0.37 EPS. As a group, research analysts predict that Alpine Income Property Trust will post 1.64 earnings per share for the current year.

Alpine Income Property Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 12th will be paid a dividend of $0.28 per share. The ex-dividend date is Thursday, September 12th. This represents a $1.12 annualized dividend and a dividend yield of 6.14%. This is an increase from Alpine Income Property Trust’s previous quarterly dividend of $0.28. Alpine Income Property Trust’s dividend payout ratio (DPR) is presently -2,800.00%.

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.