Alpine Income Property Trust, Inc. (NYSE:PINE) Short Interest Up 22.3% in October

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

Analysts Set New Price Targets

PINE has been the topic of a number of recent analyst reports. Raymond James raised their target price on Alpine Income Property Trust from $18.00 to $19.00 and gave the stock an “outperform” rating in a report on Wednesday, August 21st. Truist Financial boosted their target price on 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 target price on shares of Alpine Income Property Trust from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Friday, October 18th. 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 on the stock. Finally, Robert W. Baird increased their price objective on Alpine Income Property Trust from $18.00 to $19.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $19.25.

Institutional Trading of Alpine Income Property Trust

A number of institutional investors and hedge funds have recently made changes to their positions in PINE. Sound Income Strategies LLC boosted its holdings in shares of Alpine Income Property Trust by 8.3% in the third quarter. Sound Income Strategies LLC now owns 795,428 shares of the company’s stock worth $14,477,000 after buying an additional 60,659 shares during the period. Vanguard Group Inc. increased its stake in Alpine Income Property Trust by 0.9% during the first quarter. Vanguard Group Inc. now owns 755,563 shares of the company’s stock valued at $11,545,000 after acquiring an additional 6,522 shares during the period. Russell Investments Group Ltd. raised its stake in shares of Alpine Income Property Trust by 7.7% in the first quarter. Russell Investments Group Ltd. now owns 493,508 shares of the company’s stock valued at $7,541,000 after acquiring an additional 35,151 shares during the last quarter. Kennedy Capital Management LLC increased its stake in shares of Alpine Income Property Trust by 18.6% in the 1st quarter. Kennedy Capital Management LLC now owns 380,475 shares of the company’s stock valued at $5,814,000 after buying an additional 59,674 shares during the period. Finally, State Street Corp grew its holdings in Alpine Income Property Trust by 18.7% during the 3rd quarter. State Street Corp now owns 272,081 shares of the company’s stock worth $4,952,000 after acquiring an additional 42,889 shares during the period. 60.50% of the stock is currently owned by institutional investors and hedge funds.

Alpine Income Property Trust Trading Down 0.4 %

Shares of NYSE PINE traded down $0.07 during midday trading on Friday, reaching $17.64. 61,676 shares of the stock were exchanged, compared to its average volume of 59,731. Alpine Income Property Trust has a twelve month low of $14.32 and a twelve month high of $19.42. The company has a debt-to-equity ratio of 1.03, a quick ratio of 3.85 and a current ratio of 3.85. The company has a 50 day simple moving average of $17.98 and a 200 day simple moving average of $16.86. The stock has a market capitalization of $251.72 million, a P/E ratio of 80.50, a PEG ratio of 1.73 and a beta of 0.80.

Alpine Income Property Trust (NYSE:PINE) last released its 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). Alpine Income Property Trust had a net margin of 6.72% and a return on equity of 1.23%. The company had revenue of $13.48 million during the quarter, compared to analyst estimates of $12.08 million. During the same period in the previous year, the firm posted $0.37 EPS. As a group, equities analysts expect that Alpine Income Property Trust will post 1.7 earnings per share for the current year.

Alpine Income Property Trust Increases Dividend

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

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.