Alpine Income Property Trust, Inc. (NYSE:PINE) Short Interest Down 63.9% in December

Alpine Income Property Trust, Inc. (NYSE:PINE) was the recipient of a significant drop in short interest in December. As of December 15th, there was short interest totalling 56,600 shares, a drop of 63.9% from the November 30th total of 156,700 shares. Based on an average daily volume of 93,000 shares, the days-to-cover ratio is currently 0.6 days.

Alpine Income Property Trust Price Performance

NYSE PINE traded down $0.03 during trading hours on Thursday, reaching $16.38. The company’s stock had a trading volume of 27,418 shares, compared to its average volume of 63,607. The company has a debt-to-equity ratio of 1.03, a current ratio of 3.85 and a quick ratio of 3.85. Alpine Income Property Trust has a 1-year low of $14.32 and a 1-year high of $19.42. The company’s 50-day moving average is $17.63 and its two-hundred day moving average is $17.28. The firm has a market capitalization of $233.79 million, a price-to-earnings ratio of 74.46, a P/E/G ratio of 1.67 and a beta of 0.79.

Alpine Income Property Trust (NYSE:PINE) last released its quarterly earnings results on Thursday, October 17th. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.19). The company had revenue of $13.48 million during the quarter, compared to analyst estimates of $12.08 million. Alpine Income Property Trust had a net margin of 6.72% and a return on equity of 1.23%. During the same period in the prior year, the business posted $0.37 EPS. On average, equities analysts predict that Alpine Income Property Trust will post 1.71 EPS for the current year.

Alpine Income Property Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Thursday, December 12th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 6.84%. The ex-dividend date of this dividend is Thursday, December 12th. Alpine Income Property Trust’s payout ratio is 509.09%.

Insider Buying and Selling

In related news, Director Wein Rachel Elias sold 2,000 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $18.00, for a total value of $36,000.00. Following the completion of the transaction, the director now directly owns 9,492 shares of the company’s stock, valued at approximately $170,856. This trade represents a 17.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders sold 3,500 shares of company stock worth $62,975. 0.74% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Alpine Income Property Trust

A number of hedge funds have recently made changes to their positions in the company. Rhumbline Advisers grew its holdings in Alpine Income Property Trust by 8.0% in the 2nd quarter. Rhumbline Advisers now owns 17,197 shares of the company’s stock valued at $268,000 after buying an additional 1,272 shares in the last quarter. ClariVest Asset Management LLC grew its stake in shares of Alpine Income Property Trust by 2.9% in the second quarter. ClariVest Asset Management LLC now owns 54,299 shares of the company’s stock valued at $845,000 after buying an additional 1,516 shares in the last quarter. Tidal Investments LLC raised its holdings in shares of Alpine Income Property Trust by 7.4% in the 3rd quarter. Tidal Investments LLC now owns 22,906 shares of the company’s stock valued at $417,000 after buying an additional 1,578 shares during the period. Guardian Wealth Management Inc. boosted its holdings in Alpine Income Property Trust by 4.3% during the 2nd quarter. Guardian Wealth Management Inc. now owns 45,681 shares of the company’s stock valued at $711,000 after acquiring an additional 1,882 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new position in Alpine Income Property Trust in the 3rd quarter valued at about $64,000. Institutional investors and hedge funds own 60.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Alliance Global Partners increased their target price on shares of Alpine Income Property Trust from $20.00 to $21.00 and gave the company a “buy” rating in a research note on Friday, October 18th. UBS Group started coverage on Alpine Income Property Trust in a report on Monday, October 14th. They issued a “neutral” rating and a $19.00 price target on the stock. Robert W. Baird boosted their price objective 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. Finally, Stifel Nicolaus increased their target price on Alpine Income Property Trust from $19.75 to $20.25 and gave the stock a “buy” rating in a research note on Monday, October 21st. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Alpine Income Property Trust presently has a consensus rating of “Moderate Buy” and a consensus price target 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.