Short Interest in Alpine Income Property Trust, Inc. (NYSE:PINE) Drops By 31.7%

Alpine Income Property Trust, Inc. (NYSE:PINE) saw a significant decrease in short interest during 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 volume of 61,400 shares, the short-interest ratio is currently 1.8 days.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on PINE shares. Stifel Nicolaus boosted their price target on shares of Alpine Income Property Trust from $18.00 to $19.25 and gave the stock a “buy” rating in a report on Friday, July 19th. B. Riley reaffirmed a “buy” rating and issued a $20.00 price objective (up previously from $19.50) on shares of Alpine Income Property Trust in a research report on Wednesday, July 24th. Truist Financial lifted their price target on shares of Alpine Income Property Trust from $16.00 to $18.00 and gave the stock a “hold” rating in a report on Tuesday, July 30th. Finally, Raymond James increased their price objective on Alpine Income Property Trust from $18.00 to $19.00 and gave the company an “outperform” rating in a report on Wednesday, August 21st. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.89.

Insider Activity

In other news, major shareholder Cto Realty Growth, Inc. bought 6,262 shares of the company’s stock in a transaction on Friday, July 5th. The shares were purchased at an average price of $15.00 per share, with a total value of $93,930.00. Following the transaction, the insider now directly owns 196,356 shares in the company, valued at $2,945,340. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 0.74% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Alpine Income Property Trust

Large investors have recently modified their holdings of the company. Heartland Advisors Inc. increased its position in shares of Alpine Income Property Trust by 53.0% in the first quarter. Heartland Advisors Inc. now owns 611,900 shares of the company’s stock worth $9,350,000 after purchasing an additional 211,900 shares during the last quarter. Sound Income Strategies LLC increased its holdings in shares of Alpine Income Property Trust by 12.3% in the 2nd quarter. Sound Income Strategies LLC now owns 734,769 shares of the company’s stock worth $11,433,000 after buying an additional 80,725 shares during the last quarter. Carlson Capital L P purchased a new stake in shares of Alpine Income Property Trust during the 1st quarter valued at $1,202,000. Kennedy Capital Management LLC lifted its holdings in shares of Alpine Income Property Trust by 18.6% during the 1st quarter. Kennedy Capital Management LLC now owns 380,475 shares of the company’s stock worth $5,814,000 after acquiring an additional 59,674 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of Alpine Income Property Trust during the 2nd quarter worth $647,000. 60.50% of the stock is currently owned by institutional investors.

Alpine Income Property Trust Stock Performance

PINE stock traded up $0.07 during midday trading on Friday, reaching $18.25. 127,513 shares of the company’s stock traded hands, compared to its average volume of 97,853. The firm has a market capitalization of $248.75 million, a PE ratio of -456.25, a price-to-earnings-growth ratio of 1.83 and a beta of 0.80. The company has a 50-day moving average price of $17.89 and a two-hundred day moving average price of $16.26. Alpine Income Property Trust has a 52 week low of $14.25 and a 52 week high of $19.42. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.88 and a current ratio of 0.88.

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

Alpine Income Property Trust Increases Dividend

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

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.