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

Key Points

• Alpine Income Property Trust experienced a significant increase in short interest, rising by 31.0% to 137,600 shares as of August 15th, which translates to a days-to-cover ratio of 1.6 days.
• The company announced a quarterly dividend of $0.285, resulting in a 7.5% dividend yield, with an ex-dividend date set for September 11th.
• Analysts have mixed ratings on the stock, with a consensus rating of "Moderate Buy" and a target price set at $18.42, despite recent price target cuts from firms like UBS Group and Stifel Nicolaus.

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

Wall Street Analysts Forecast Growth

PINE has been the topic of a number of research reports. UBS Group reduced their price target on shares of Alpine Income Property Trust from $16.00 to $15.00 and set a "neutral" rating on the stock in a report on Wednesday, July 16th. Jones Trading dropped their price objective on shares of Alpine Income Property Trust from $20.00 to $19.00 and set a "buy" rating for the company in a research note on Friday, July 25th. Stifel Nicolaus dropped their price objective on shares of Alpine Income Property Trust from $18.50 to $17.50 and set a "buy" rating for the company in a research note on Friday, July 25th. Finally, Alliance Global Partners reissued a "buy" rating on shares of Alpine Income Property Trust in a research note on Friday, July 25th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Alpine Income Property Trust presently has an average rating of "Moderate Buy" and a consensus price target of $18.42.

Insider Transactions at Alpine Income Property Trust

In related news, CEO John P. Albright purchased 3,500 shares of Alpine Income Property Trust stock in a transaction on Wednesday, August 6th. The shares were bought at an average cost of $14.20 per share, for a total transaction of $49,700.00. Following the acquisition, the chief executive officer owned 11,444 shares in the company, valued at approximately $162,504.80. The trade was a 44.06% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.46% of the company's stock.

Hedge Funds Weigh In On Alpine Income Property Trust

A number of large investors have recently made changes to their positions in the company. Ameriprise Financial Inc. boosted its stake in shares of Alpine Income Property Trust by 13.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 15,620 shares of the company's stock worth $230,000 after purchasing an additional 1,810 shares during the period. Qube Research & Technologies Ltd lifted its holdings in Alpine Income Property Trust by 43.4% during the 2nd quarter. Qube Research & Technologies Ltd now owns 39,848 shares of the company's stock valued at $586,000 after buying an additional 12,063 shares in the last quarter. Gabelli Funds LLC bought a new stake in Alpine Income Property Trust during the 2nd quarter valued at about $3,621,000. Gamco Investors INC. ET AL bought a new stake in Alpine Income Property Trust during the 2nd quarter valued at about $467,000. Finally, Hsbc Holdings PLC lifted its holdings in Alpine Income Property Trust by 42.3% during the 2nd quarter. Hsbc Holdings PLC now owns 27,866 shares of the company's stock valued at $412,000 after buying an additional 8,278 shares in the last quarter. 60.50% of the stock is owned by hedge funds and other institutional investors.

Alpine Income Property Trust Trading Down 1.5%

Shares of PINE stock traded down $0.23 during trading hours on Friday, reaching $14.66. 48,104 shares of the stock were exchanged, compared to its average volume of 68,973. Alpine Income Property Trust has a 12-month low of $13.95 and a 12-month high of $18.79. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.40. The company's 50-day moving average price is $14.68 and its 200-day moving average price is $15.30. The firm has a market capitalization of $207.56 million, a price-to-earnings ratio of -293.20, a price-to-earnings-growth ratio of 1.41 and a beta of 0.64.

Alpine Income Property Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Thursday, September 11th will be paid a dividend of $0.285 per share. The ex-dividend date of this dividend is Thursday, September 11th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 7.8%. Alpine Income Property Trust's payout ratio is currently -2,280.00%.

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.