Alpine Income Property Trust, Inc. (NYSE:PINE) Short Interest Down 63.9% in December

Alpine Income Property Trust, Inc. (NYSE:PINE) saw a significant decline in short interest in December. As of December 15th, there was short interest totalling 56,600 shares, a decline of 63.9% from the November 30th total of 156,700 shares. Based on an average daily trading volume, of 93,000 shares, the short-interest ratio is currently 0.6 days.

Analysts Set New Price Targets

A number of analysts recently weighed in on PINE shares. Alliance Global Partners increased their price objective on Alpine Income Property Trust from $20.00 to $21.00 and gave the company a “buy” rating in a report on Friday, October 18th. UBS Group began coverage on Alpine Income Property Trust in a research report on Monday, October 14th. They set a “neutral” rating and a $19.00 price objective for the company. Stifel Nicolaus increased 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 report on Monday, October 21st. Finally, Robert W. Baird boosted 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 research 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 stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $19.25.

Insider Activity

In related news, Director Wein Rachel Elias sold 2,000 shares of Alpine Income Property Trust stock in a transaction that occurred on 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 trade represents a 17.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last ninety days, insiders sold 3,500 shares of company stock worth $62,975. Corporate insiders own 0.74% of the company’s stock.

Hedge Funds Weigh In On Alpine Income Property Trust

Several institutional investors and hedge funds have recently modified their holdings of PINE. Public Employees Retirement System of Ohio purchased a new stake in shares of Alpine Income Property Trust during the third quarter valued at $64,000. Truvestments Capital LLC bought a new stake in shares of Alpine Income Property Trust in the third quarter worth $143,000. Virtu Financial LLC bought a new stake in shares of Alpine Income Property Trust in the third quarter worth $200,000. Quadrature Capital Ltd purchased a new position in Alpine Income Property Trust in the third quarter worth about $239,000. Finally, Rhumbline Advisers grew its stake in shares of Alpine Income Property Trust by 8.0% during the 2nd quarter. Rhumbline Advisers now owns 17,197 shares of the company’s stock valued at $268,000 after purchasing an additional 1,272 shares during the period. 60.50% of the stock is currently owned by institutional investors.

Alpine Income Property Trust Price Performance

Shares of NYSE PINE traded down $0.03 during trading hours on Thursday, reaching $16.38. 27,418 shares of the stock traded hands, compared to its average volume of 63,607. The company’s 50-day simple moving average is $17.63 and its two-hundred day simple moving average is $17.28. The company has a market capitalization of $233.79 million, a P/E ratio of 74.46, a price-to-earnings-growth ratio of 1.67 and a beta of 0.79. Alpine Income Property Trust has a 52-week low of $14.32 and a 52-week high of $19.42. The company has a quick ratio of 3.85, a current ratio of 3.85 and a debt-to-equity ratio of 1.03.

Alpine Income Property Trust (NYSE:PINE) last posted its earnings results on Thursday, October 17th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.19). The business had revenue of $13.48 million for the quarter, compared to analysts’ expectations of $12.08 million. Alpine Income Property Trust had a net margin of 6.72% and a return on equity of 1.23%. During the same period last year, the firm posted $0.37 earnings per share. Equities research analysts forecast that Alpine Income Property Trust will post 1.71 EPS for the current year.

Alpine Income Property Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Thursday, December 12th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 6.84%. The ex-dividend date of this dividend is Thursday, December 12th. Alpine Income Property Trust’s payout ratio is 509.09%.

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.