Brokerages Set Alpine Income Property Trust, Inc. (NYSE:PINE) Target Price at $18.89

Alpine Income Property Trust, Inc. (NYSE:PINE) has been assigned an average recommendation of “Moderate Buy” from the seven ratings firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $18.89.

A number of analysts recently weighed in on the stock. Truist Financial increased their price target on shares of Alpine Income Property Trust from $16.00 to $18.00 and gave the company a “hold” rating in a research report on Tuesday, July 30th. Raymond James increased their target price on shares of Alpine Income Property Trust from $18.00 to $19.00 and gave the stock an “outperform” rating in a report on Wednesday, August 21st. B. Riley reissued a “buy” rating and issued a $20.00 price target (up previously from $19.50) on shares of Alpine Income Property Trust in a report on Wednesday, July 24th. Finally, Stifel Nicolaus raised their price objective on Alpine Income Property Trust from $18.00 to $19.25 and gave the stock a “buy” rating in a research note on Friday, July 19th.

Insider Transactions at Alpine Income Property Trust

In other Alpine Income Property Trust news, major shareholder Cto Realty Growth, Inc. purchased 6,262 shares of the business’s stock in a transaction on Friday, July 5th. The shares were purchased at an average cost of $15.00 per share, with a total value of $93,930.00. Following the transaction, the insider now directly owns 196,356 shares of the company’s stock, valued at approximately $2,945,340. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.74% of the stock is currently owned by insiders.

Institutional Trading of Alpine Income Property Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in PINE. Heartland Advisors Inc. lifted its position in shares of Alpine Income Property Trust by 53.0% in the first quarter. Heartland Advisors Inc. now owns 611,900 shares of the company’s stock valued at $9,350,000 after buying an additional 211,900 shares during the last quarter. Sound Income Strategies LLC increased its holdings in shares of Alpine Income Property Trust by 12.3% in the second quarter. Sound Income Strategies LLC now owns 734,769 shares of the company’s stock valued at $11,433,000 after purchasing an additional 80,725 shares during the last quarter. Carlson Capital L P acquired a new stake in shares of Alpine Income Property Trust during the 1st quarter worth about $1,202,000. Kennedy Capital Management LLC lifted its stake in shares of Alpine Income Property Trust by 18.6% during the 1st quarter. Kennedy Capital Management LLC now owns 380,475 shares of the company’s stock worth $5,814,000 after buying an additional 59,674 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of Alpine Income Property Trust during the 2nd quarter worth about $647,000. 60.50% of the stock is owned by institutional investors.

Alpine Income Property Trust Stock Performance

Shares of NYSE:PINE opened at $18.25 on Thursday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.00. Alpine Income Property Trust has a 1-year low of $14.25 and a 1-year high of $19.42. The stock has a market capitalization of $248.75 million, a P/E ratio of -456.25, a P/E/G ratio of 1.83 and a beta of 0.80. The business has a 50-day moving average price of $17.89 and a two-hundred day moving average price of $16.26.

Alpine Income Property Trust (NYSE:PINE) last announced its quarterly earnings data on Thursday, July 18th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.38). Alpine Income Property Trust had a negative net margin of 1.16% and a negative return on equity of 0.20%. The business had revenue of $12.49 million during the quarter, compared to analyst estimates of $12.10 million. During the same quarter in the prior year, the company earned $0.37 earnings per share. Equities analysts predict that Alpine Income Property Trust will post 1.64 earnings per share for the current year.

Alpine Income Property Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 12th will be paid a dividend of $0.28 per share. This is a boost from Alpine Income Property Trust’s previous quarterly dividend of $0.28. This represents a $1.12 annualized dividend and a dividend yield of 6.14%. The ex-dividend date of this dividend is Thursday, September 12th. Alpine Income Property Trust’s dividend payout ratio (DPR) is currently -2,800.00%.

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.