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

Alpine Income Property Trust, Inc. (NYSE:PINE) was the target of a large growth in short interest in the month of 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. Based on an average trading volume of 88,600 shares, the short-interest ratio is presently 0.7 days. Approximately 0.4% of the shares of the company are sold short.

Insider Activity

In other Alpine Income Property Trust news, Director Andrew C. Richardson sold 2,000 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $16.64, for a total value of $33,280.00. Following the transaction, the director now owns 17,143 shares of the company’s stock, valued at approximately $285,259.52. This represents a 10.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.74% of the company’s stock.

Institutional Investors Weigh In On Alpine Income Property Trust

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new position in shares of Alpine Income Property Trust in the fourth quarter worth approximately $2,130,000. Nuveen Asset Management LLC increased its stake in Alpine Income Property Trust by 127.9% in the 4th quarter. Nuveen Asset Management LLC now owns 174,465 shares of the company’s stock worth $2,929,000 after buying an additional 97,910 shares in the last quarter. AlphaCentric Advisors LLC bought a new stake in Alpine Income Property Trust during the fourth quarter valued at about $1,544,000. Crossingbridge Advisors LLC purchased a new position in shares of Alpine Income Property Trust in the fourth quarter valued at about $1,544,000. Finally, Sound Income Strategies LLC grew its position in shares of Alpine Income Property Trust by 9.0% during the fourth quarter. Sound Income Strategies LLC now owns 866,916 shares of the company’s stock worth $14,556,000 after purchasing an additional 71,488 shares in the last quarter. 60.50% of the stock is owned by hedge funds and other institutional investors.

Alpine Income Property Trust Stock Performance

Shares of PINE traded up $0.10 on Monday, reaching $16.71. The company’s stock had a trading volume of 96,316 shares, compared to its average volume of 71,970. The stock’s 50 day simple moving average is $16.49 and its two-hundred day simple moving average is $17.16. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.94 and a quick ratio of 0.94. The stock has a market capitalization of $245.55 million, a P/E ratio of 119.38, a PEG ratio of 1.58 and a beta of 0.82. Alpine Income Property Trust has a 12-month low of $14.33 and a 12-month high of $19.42.

Alpine Income Property Trust (NYSE:PINE) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. 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 will be paid on Monday, March 31st. Stockholders of record on Thursday, March 13th will be given a dividend of $0.285 per share. This is a boost from Alpine Income Property Trust’s previous quarterly dividend of $0.28. This represents a $1.14 dividend on an annualized basis and a dividend yield of 6.82%. The ex-dividend date of this dividend is Thursday, March 13th. Alpine Income Property Trust’s payout ratio is presently 814.29%.

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.