Alpine Income Property Trust, Inc. (NYSE:PINE) Short Interest Update

Alpine Income Property Trust, Inc. (NYSE:PINE) was the target of a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 102,400 shares, an increase of 22.3% from the October 15th total of 83,700 shares. Based on an average daily volume of 82,700 shares, the short-interest ratio is presently 1.2 days.

Alpine Income Property Trust Stock Performance

Shares of PINE stock traded down $0.07 during trading hours on Friday, hitting $17.64. The company’s stock had a trading volume of 61,676 shares, compared to its average volume of 59,731. The company has a 50 day moving average of $17.98 and a 200 day moving average of $16.86. The stock has a market cap of $251.72 million, a PE ratio of 80.50, a price-to-earnings-growth ratio of 1.73 and a beta of 0.80. The company has a current ratio of 3.85, a quick ratio of 3.85 and a debt-to-equity ratio of 1.03. Alpine Income Property Trust has a 12-month low of $14.32 and a 12-month high of $19.42.

Alpine Income Property Trust (NYSE:PINE) last released its quarterly earnings data on Thursday, October 17th. The company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.19). The company had revenue of $13.48 million for the quarter, compared to analyst estimates of $12.08 million. Alpine Income Property Trust had a return on equity of 1.23% and a net margin of 6.72%. During the same period last year, the firm posted $0.37 EPS. On average, sell-side analysts forecast that Alpine Income Property Trust will post 1.7 EPS for the current fiscal year.

Alpine Income Property Trust Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 12th were issued a $0.28 dividend. This is an increase from Alpine Income Property Trust’s previous quarterly dividend of $0.28. This represents a $1.12 annualized dividend and a dividend yield of 6.35%. The ex-dividend date was Thursday, September 12th. Alpine Income Property Trust’s payout ratio is presently 509.11%.

Institutional Investors Weigh In On Alpine Income Property Trust

Hedge funds have recently modified their holdings of the stock. Truvestments Capital LLC acquired a new stake in Alpine Income Property Trust during the third quarter worth approximately $143,000. Quadrature Capital Ltd acquired a new stake in shares of Alpine Income Property Trust in the 3rd quarter worth approximately $239,000. Rhumbline Advisers grew its holdings in Alpine Income Property Trust by 8.0% during the second quarter. Rhumbline Advisers now owns 17,197 shares of the company’s stock worth $268,000 after acquiring an additional 1,272 shares during the period. Tidal Investments LLC boosted its stake in shares of Alpine Income Property Trust by 5.8% during the 1st quarter. Tidal Investments LLC now owns 19,466 shares of the company’s stock worth $297,000 after acquiring an additional 1,064 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new position in shares of Alpine Income Property Trust in the third quarter worth $336,000. 60.50% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on PINE shares. Truist Financial increased their price objective on shares of Alpine Income Property Trust from $16.00 to $18.00 and gave the company a “hold” rating in a research note on Tuesday, July 30th. Alliance Global Partners boosted their price objective on Alpine Income Property Trust from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Raymond James boosted 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 report on Wednesday, August 21st. UBS Group started coverage on shares of Alpine Income Property Trust in a research report on Monday, October 14th. They issued a “neutral” rating and a $19.00 price objective for the company. Finally, Robert W. Baird raised their price target on Alpine Income Property Trust from $18.00 to $19.00 and gave the company an “outperform” rating in a report on Monday, October 21st. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $19.25.

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.