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

Alpine Income Property Trust, Inc. (NYSE:PINE - Get Free Report) was the recipient of a large drop in short interest in February. As of February 28th, there was short interest totalling 42,800 shares, a drop of 21.2% from the February 13th total of 54,300 shares. Based on an average daily volume of 88,800 shares, the days-to-cover ratio is currently 0.5 days. Currently, 0.3% of the company's shares are short sold.

Alpine Income Property Trust Stock Down 0.5 %

PINE stock traded down $0.09 during mid-day trading on Friday, hitting $16.36. The stock had a trading volume of 41,979 shares, compared to its average volume of 70,236. Alpine Income Property Trust has a 1-year low of $14.33 and a 1-year high of $19.42. The company has a fifty day moving average of $16.53 and a 200 day moving average of $17.29. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $240.38 million, a price-to-earnings ratio of 116.89, a PEG ratio of 1.58 and a beta of 0.82.

Alpine Income Property Trust (NYSE:PINE - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.40. Alpine Income Property Trust had a net margin of 3.96% and a return on equity of 0.76%. On average, equities analysts expect that Alpine Income Property Trust will post 1.74 EPS for the current fiscal year.

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Alpine Income Property Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 13th will be issued a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 6.97%. The ex-dividend date of this dividend is Thursday, March 13th. 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 814.29%.

Insiders Place Their Bets

In other Alpine Income Property Trust news, Director Andrew C. Richardson sold 2,000 shares of the business's stock in a transaction on Monday, February 24th. The shares were 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. The trade was a 10.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.74% of the company's stock.

Institutional Investors Weigh In On Alpine Income Property Trust

A number of hedge funds have recently bought and sold shares of the company. PNC Financial Services Group Inc. lifted its holdings in shares of Alpine Income Property Trust by 25.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,282 shares of the company's stock worth $72,000 after buying an additional 867 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Alpine Income Property Trust by 26.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 7,068 shares of the company's stock valued at $129,000 after purchasing an additional 1,483 shares during the period. Tidal Investments LLC grew its position in Alpine Income Property Trust by 7.4% in the 3rd quarter. Tidal Investments LLC now owns 22,906 shares of the company's stock worth $417,000 after purchasing an additional 1,578 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Alpine Income Property Trust by 5.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 36,157 shares of the company's stock worth $607,000 after purchasing an additional 1,977 shares during the period. Finally, Rhumbline Advisers raised its position in shares of Alpine Income Property Trust by 11.7% during the fourth quarter. Rhumbline Advisers now owns 19,916 shares of the company's stock valued at $334,000 after buying an additional 2,081 shares during the last quarter. 60.50% of the stock is currently owned by institutional investors.

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.