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

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

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Stifel Nicolaus raised their target price 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. Robert W. Baird raised their price target on shares of Alpine Income Property Trust from $18.00 to $19.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. Two research 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 a consensus target price of $19.25.

Alpine Income Property Trust Price Performance

NYSE PINE traded down $0.06 during trading on Friday, hitting $16.44. 54,765 shares of the company’s stock were exchanged, compared to its average volume of 89,207. The company has a market cap of $241.54 million, a PE ratio of 117.43, a P/E/G ratio of 1.61 and a beta of 0.80. The company has a current ratio of 3.85, a quick ratio of 3.85 and a debt-to-equity ratio of 1.03. The stock’s 50 day moving average price is $16.73 and its two-hundred day moving average price is $17.48. Alpine Income Property Trust has a fifty-two week low of $14.32 and a fifty-two week high of $19.42.

Alpine Income Property Trust (NYSE:PINE) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.44 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%. Research analysts expect that Alpine Income Property Trust will post 1.78 EPS for the current year.

Alpine Income Property Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 13th will be given a $0.285 dividend. This is a positive change from Alpine Income Property Trust’s previous quarterly dividend of $0.28. This represents a $1.14 dividend on an annualized basis and a dividend yield of 6.93%. The ex-dividend date of this dividend is Thursday, March 13th. Alpine Income Property Trust’s dividend payout ratio (DPR) is currently 814.29%.

Insider Activity at Alpine Income Property Trust

In other Alpine Income Property Trust news, Director Wein Rachel Elias sold 2,000 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $18.00, for a total transaction of $36,000.00. Following the transaction, the director now directly owns 9,492 shares in the company, valued at $170,856. This represents a 17.40 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.74% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PINE. State of New Jersey Common Pension Fund D boosted its stake in shares of Alpine Income Property Trust by 8.6% in the third quarter. State of New Jersey Common Pension Fund D now owns 188,703 shares of the company’s stock worth $3,434,000 after acquiring an additional 15,000 shares during the period. Truvestments Capital LLC bought a new position in Alpine Income Property Trust in the third quarter worth about $143,000. Martingale Asset Management L P purchased a new position in Alpine Income Property Trust in the 3rd quarter worth $441,000. Jacobs Levy Equity Management Inc. purchased a new position in Alpine Income Property Trust in the 3rd quarter worth $336,000. Finally, Quadrature Capital Ltd purchased a new position in shares of Alpine Income Property Trust during the 3rd quarter valued at about $239,000. Hedge funds and other institutional investors own 60.50% of the company’s stock.

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.