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

Alpine Income Property Trust, Inc. (NYSE:PINE) was the target of a large decrease in short interest in 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 days-to-cover ratio is presently 1.8 days.

Insiders Place Their Bets

In related news, major shareholder Cto Realty Growth, Inc. bought 6,562 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The stock was bought at an average cost of $14.99 per share, with a total value of $98,364.38. Following the completion of the purchase, the insider now owns 202,918 shares of the company’s stock, valued at approximately $3,041,740.82. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.74% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Alpine Income Property Trust

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Heartland Advisors Inc. increased its stake in shares of Alpine Income Property Trust by 53.0% during the first quarter. Heartland Advisors Inc. now owns 611,900 shares of the company’s stock valued at $9,350,000 after buying an additional 211,900 shares during the period. Sound Income Strategies LLC raised 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 valued at $11,433,000 after purchasing an additional 80,725 shares in the last quarter. Carlson Capital L P purchased a new stake in shares of Alpine Income Property Trust in the 1st quarter worth approximately $1,202,000. Kennedy Capital Management LLC boosted its stake in shares of Alpine Income Property Trust by 18.6% during the first quarter. Kennedy Capital Management LLC now owns 380,475 shares of the company’s stock valued at $5,814,000 after purchasing an additional 59,674 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in Alpine Income Property Trust during the second quarter valued at approximately $647,000. Institutional investors own 60.50% of the company’s stock.

Wall Street Analyst Weigh In

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

Alpine Income Property Trust Trading Up 0.4 %

NYSE PINE traded up $0.07 on Friday, hitting $18.25. 127,510 shares of the stock were exchanged, compared to its average volume of 54,848. Alpine Income Property Trust has a 52-week low of $14.25 and a 52-week high of $19.42. The firm has a market capitalization of $248.75 million, a P/E ratio of -454.50, a P/E/G ratio of 1.83 and a beta of 0.80. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a fifty day moving average price of $17.86 and a two-hundred day moving average price of $16.24.

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

Alpine Income Property Trust Increases Dividend

The business 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. The ex-dividend date of this dividend is Thursday, September 12th. This is a boost from Alpine Income Property Trust’s previous quarterly dividend of $0.28. This represents a $1.12 dividend on an annualized basis and a dividend yield of 6.14%. 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.