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

Alpine Income Property Trust, Inc. (NYSE:PINE - Get Free Report) was the recipient of a significant growth in short interest in March. As of March 15th, there was short interest totalling 61,400 shares, a growth of 43.5% from the February 28th total of 42,800 shares. Based on an average daily trading volume, of 88,600 shares, the days-to-cover ratio is presently 0.7 days. Approximately 0.4% of the shares of the stock are sold short.

Insider Transactions at Alpine Income Property Trust

In other news, Director Andrew C. Richardson sold 2,000 shares of the company's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $16.64, for a total transaction of $33,280.00. Following the sale, the director now directly owns 17,143 shares of the company's stock, valued at $285,259.52. This represents a 10.45 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.74% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Martingale Asset Management L P acquired a new stake in Alpine Income Property Trust in the 3rd quarter worth approximately $441,000. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Alpine Income Property Trust during the 3rd quarter valued at about $336,000. Quadrature Capital Ltd purchased a new stake in shares of Alpine Income Property Trust in the third quarter valued at approximately $239,000. State Street Corp raised its position in Alpine Income Property Trust by 18.7% during the third quarter. State Street Corp now owns 272,081 shares of the company's stock worth $4,952,000 after acquiring an additional 42,889 shares during the period. Finally, Jane Street Group LLC raised its position in shares of Alpine Income Property Trust by 216.2% during the 3rd quarter. Jane Street Group LLC now owns 43,486 shares of the company's stock worth $791,000 after purchasing an additional 29,735 shares during the last quarter. Institutional investors own 60.50% of the company's stock.

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Analysts Set New Price Targets

Separately, Stifel Nicolaus decreased their target price on shares of Alpine Income Property Trust from $19.50 to $19.25 and set a "buy" rating on the stock in a research report on Thursday. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Alpine Income Property Trust has a consensus rating of "Moderate Buy" and a consensus price target of $19.14.

Alpine Income Property Trust Trading Down 0.7 %

Shares of NYSE:PINE traded down $0.11 on Thursday, hitting $16.62. 8,067 shares of the company's stock were exchanged, compared to its average volume of 84,231. The stock has a market capitalization of $244.18 million, a price-to-earnings ratio of 118.71, a price-to-earnings-growth ratio of 1.58 and a beta of 0.82. Alpine Income Property Trust has a 12 month low of $14.32 and a 12 month high of $19.42. The business's 50 day simple moving average is $16.50 and its two-hundred day simple moving average is $17.14. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.94 and a quick ratio of 0.94.

Alpine Income Property Trust (NYSE:PINE - Get Free Report) last issued its earnings results on Thursday, February 6th. The company reported $0.44 earnings per share 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%. Analysts anticipate that Alpine Income Property Trust will post 1.74 EPS for the current fiscal year.

Alpine Income Property Trust Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 13th were issued a $0.285 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This is an increase 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 6.86%. Alpine Income Property Trust's dividend payout ratio (DPR) is currently 814.29%.

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.