Alpine Income Property Trust, Inc. (NYSE:PINE) Receives $18.89 Consensus PT from Brokerages

Shares of Alpine Income Property Trust, Inc. (NYSE:PINE) have earned an average recommendation of “Moderate Buy” from the seven analysts that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $18.89.

PINE has been the topic of several recent analyst reports. B. Riley reiterated 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. Stifel Nicolaus lifted their target price on shares of Alpine Income Property Trust from $18.00 to $19.25 and gave the company a “buy” rating in a research note on Friday, July 19th. Truist Financial increased their price target on shares of Alpine Income Property Trust from $16.00 to $18.00 and gave the stock a “hold” rating in a research note on Tuesday, July 30th. Finally, Raymond James lifted their price objective on Alpine Income Property Trust from $18.00 to $19.00 and gave the company an “outperform” rating in a research report on Wednesday, August 21st.

Alpine Income Property Trust Price Performance

Shares of Alpine Income Property Trust stock opened at $17.70 on Thursday. The company’s fifty day simple moving average is $17.93 and its two-hundred day simple moving average is $16.31. Alpine Income Property Trust has a 12-month low of $14.25 and a 12-month high of $19.42. The firm has a market cap of $241.25 million, a PE ratio of -442.50, a price-to-earnings-growth ratio of 1.85 and a beta of 0.80. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.00.

Alpine Income Property Trust (NYSE:PINE) last posted its earnings results on Thursday, July 18th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.38). The business had revenue of $12.49 million during the quarter, compared to the consensus estimate of $12.10 million. Alpine Income Property Trust had a negative return on equity of 0.20% and a negative net margin of 1.16%. During the same period in the previous year, the business earned $0.37 earnings per share. As a group, equities analysts expect that Alpine Income Property Trust will post 1.65 EPS for the current year.

Alpine Income Property Trust Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 12th were paid a dividend of $0.28 per share. 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. This represents a $1.12 dividend on an annualized basis and a dividend yield of 6.33%. Alpine Income Property Trust’s dividend payout ratio (DPR) is currently -2,800.00%.

Insider Activity

In related news, major shareholder Cto Realty Growth, Inc. purchased 6,262 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The shares were bought at an average price of $15.00 per share, for a total transaction of $93,930.00. Following the purchase, the insider now directly owns 196,356 shares of the company’s stock, valued at approximately $2,945,340. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.74% of the company’s stock.

Institutional Trading of Alpine Income Property Trust

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

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.