Alpine Income Property Trust, Inc. (NYSE:PINE) Short Interest Up 23.0% in March

Alpine Income Property Trust, Inc. (NYSE:PINE - Get Free Report) saw a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 75,500 shares, a growth of 23.0% from the March 15th total of 61,400 shares. Currently, 0.5% of the company's shares are sold short. Based on an average daily trading volume, of 87,200 shares, the days-to-cover ratio is currently 0.9 days.

Alpine Income Property Trust Stock Down 1.4 %

Shares of NYSE PINE traded down $0.23 on Wednesday, hitting $16.34. The company had a trading volume of 51,283 shares, compared to its average volume of 74,082. The firm has a market capitalization of $236.54 million, a P/E ratio of 116.71, a PEG ratio of 1.58 and a beta of 0.57. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.09. Alpine Income Property Trust has a 12-month low of $14.51 and a 12-month high of $19.42. The business has a 50 day moving average of $16.29 and a two-hundred day moving average of $16.91.

Alpine Income Property Trust (NYSE:PINE - Get Free Report) last announced its earnings results on Thursday, February 6th. The company reported $0.44 earnings per share (EPS) for the quarter, topping 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%. As a group, equities research analysts forecast that Alpine Income Property Trust will post 1.74 earnings per share for the current fiscal year.

Alpine Income Property Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 13th were paid a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a yield of 6.98%. This is an increase from Alpine Income Property Trust's previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Thursday, March 13th. Alpine Income Property Trust's dividend payout ratio is 814.29%.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus cut their price objective on Alpine Income Property Trust from $19.50 to $19.25 and set a "buy" rating on the stock in a report on Thursday, April 3rd. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $19.32.

Insider Buying and Selling at Alpine Income Property Trust

In other news, Director Andrew C. Richardson sold 2,000 shares of the company's stock in a transaction 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 completion of the sale, the director now directly owns 17,143 shares in the company, valued at $285,259.52. This represents a 10.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.74% of the stock is owned by company insiders.

Institutional Investors Weigh In On Alpine Income Property Trust

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Ameriflex Group Inc. acquired a new stake in Alpine Income Property Trust during the fourth quarter valued at approximately $43,000. BNP Paribas Financial Markets bought a new position in Alpine Income Property Trust during the fourth quarter worth $44,000. GAMMA Investing LLC raised its holdings in shares of Alpine Income Property Trust by 9,844.7% during the first quarter. GAMMA Investing LLC now owns 3,779 shares of the company's stock worth $63,000 after purchasing an additional 3,741 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of Alpine Income Property Trust in the 3rd quarter valued at about $64,000. Finally, PNC Financial Services Group Inc. grew its position in shares of Alpine Income Property Trust by 25.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,282 shares of the company's stock valued at $72,000 after buying an additional 867 shares during the last quarter. Institutional investors own 60.50% of the company's stock.

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.