Alpine Income Property Trust, Inc. (NYSE:PINE) Short Interest Up 43.5% in March

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. Currently, 0.4% of the shares of the stock are sold short. Based on an average daily volume of 88,600 shares, the days-to-cover ratio is currently 0.7 days.

Alpine Income Property Trust Trading Down 1.2 %

Shares of PINE traded down $0.21 during mid-day trading on Friday, reaching $16.29. The stock had a trading volume of 78,573 shares, compared to its average volume of 72,492. Alpine Income Property Trust has a 52-week low of $14.33 and a 52-week high of $19.42. The firm has a market cap of $239.26 million, a price-to-earnings ratio of 116.32, a P/E/G ratio of 1.58 and a beta of 0.57. The business's fifty day moving average is $16.51 and its 200 day moving average is $17.13. 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 posted its quarterly earnings results 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, sell-side analysts predict that Alpine Income Property Trust will post 1.74 EPS for the current fiscal year.

Alpine Income Property Trust Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 13th were given a $0.285 dividend. The ex-dividend date was Thursday, March 13th. This represents a $1.14 dividend on an annualized basis and a yield of 7.00%. This is an increase from Alpine Income Property Trust's previous quarterly dividend of $0.28. Alpine Income Property Trust's payout ratio is currently 814.29%.

Insider Buying and Selling

In other Alpine Income Property Trust news, Director Andrew C. Richardson sold 2,000 shares of Alpine Income Property Trust 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 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 SEC, which is available through this hyperlink. 0.74% of the stock is owned by company insiders.

Hedge Funds Weigh In On Alpine Income Property Trust

Several large investors have recently modified their holdings of the business. State Street Corp raised its holdings in Alpine Income Property Trust by 18.7% in the 3rd quarter. State Street Corp now owns 272,081 shares of the company's stock valued at $4,952,000 after buying an additional 42,889 shares during the period. JPMorgan Chase & Co. increased its position in shares of Alpine Income Property Trust by 26.6% during the third quarter. JPMorgan Chase & Co. now owns 7,068 shares of the company's stock valued at $129,000 after acquiring an additional 1,483 shares during the last quarter. Barclays PLC increased its position in shares of Alpine Income Property Trust by 282.4% during the third quarter. Barclays PLC now owns 16,411 shares of the company's stock valued at $299,000 after acquiring an additional 12,119 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Alpine Income Property Trust during the 4th quarter valued at about $2,130,000. Finally, Cottage Street Advisors LLC increased its stake in Alpine Income Property Trust by 124.9% during the fourth quarter. Cottage Street Advisors LLC now owns 43,437 shares of the company's stock worth $729,000 after purchasing an additional 24,127 shares during the period. Institutional investors and hedge funds own 60.50% of the company's stock.

Wall Street Analyst Weigh In

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

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.