Short Interest in Alpine Income Property Trust, Inc. (NYSE:PINE) Increases By 31.0%

Alpine Income Property Trust, Inc. (NYSE:PINE) saw a significant growth in short interest during the month of August. As of August 15th, there was short interest totaling 137,600 shares, a growth of 31.0% from the July 31st total of 105,000 shares. Based on an average daily volume of 85,100 shares, the short-interest ratio is currently 1.6 days. Based on an average daily volume of 85,100 shares, the short-interest ratio is currently 1.6 days.

Alpine Income Property Trust Trading Up 0.9%

Shares of PINE stock opened at $15.32 on Thursday. The stock’s fifty day simple moving average is $14.69 and its 200 day simple moving average is $15.34. Alpine Income Property Trust has a twelve month low of $13.95 and a twelve month high of $18.79. The firm has a market capitalization of $216.93 million, a P/E ratio of -306.40, a P/E/G ratio of 1.44 and a beta of 0.64. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.40.

Alpine Income Property Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Thursday, September 11th will be given a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a dividend yield of 7.4%. The ex-dividend date is Thursday, September 11th. Alpine Income Property Trust’s payout ratio is -2,280.00%.

Insider Activity

In other news, CEO John P. Albright purchased 3,500 shares of the business’s stock in a transaction dated Wednesday, August 6th. The shares were acquired at an average price of $14.20 per share, with a total value of $49,700.00. Following the completion of the purchase, the chief executive officer directly owned 11,444 shares of the company’s stock, valued at $162,504.80. The trade was a 44.06% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.46% of the stock is owned by company insiders.

Institutional Investors Weigh In On Alpine Income Property Trust

Several institutional investors and hedge funds have recently made changes to their positions in the business. Sound Income Strategies LLC boosted its position in shares of Alpine Income Property Trust by 10.2% during the 2nd quarter. Sound Income Strategies LLC now owns 1,047,055 shares of the company’s stock valued at $15,402,000 after purchasing an additional 96,519 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Alpine Income Property Trust by 3.7% in the second quarter. Russell Investments Group Ltd. now owns 332,426 shares of the company’s stock worth $4,890,000 after purchasing an additional 11,712 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Alpine Income Property Trust by 5.8% in the second quarter. Geode Capital Management LLC now owns 327,734 shares of the company’s stock worth $4,822,000 after purchasing an additional 17,947 shares during the last quarter. Gabelli Funds LLC purchased a new stake in shares of Alpine Income Property Trust during the second quarter valued at approximately $3,621,000. Finally, State of New Jersey Common Pension Fund D increased its position in shares of Alpine Income Property Trust by 2.6% during the first quarter. State of New Jersey Common Pension Fund D now owns 193,703 shares of the company’s stock valued at $3,239,000 after acquiring an additional 5,000 shares during the last quarter. Institutional investors own 60.50% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on PINE. Jones Trading cut their target price on Alpine Income Property Trust from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Friday, July 25th. UBS Group decreased their price target on Alpine Income Property Trust from $16.00 to $15.00 and set a “neutral” rating for the company in a research note on Wednesday, July 16th. Alliance Global Partners reaffirmed a “buy” rating on shares of Alpine Income Property Trust in a research report on Friday, July 25th. Finally, Stifel Nicolaus cut their price objective on Alpine Income Property Trust from $18.50 to $17.50 and set a “buy” rating for the company in a research report on Friday, July 25th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Alpine Income Property Trust currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.42.

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.