Alpine Income Property Trust, Inc. (NYSE:PINE) Receives $19.25 Average PT from Analysts

Alpine Income Property Trust, Inc. (NYSE:PINE) has earned an average recommendation of “Moderate Buy” from the nine research firms that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $19.25.

PINE has been the subject of several analyst reports. UBS Group initiated coverage on Alpine Income Property Trust in a research report on Monday, October 14th. They set a “neutral” rating and a $19.00 target price for the company. Robert W. Baird boosted their price objective on shares of Alpine Income Property Trust from $18.00 to $19.00 and gave the company an “outperform” rating in a report on Monday, October 21st. 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. Alliance Global Partners boosted their price target on shares of Alpine Income Property Trust from $20.00 to $21.00 and gave the company a “buy” rating in a report on Friday, October 18th. Finally, Stifel Nicolaus raised their price objective on Alpine Income Property Trust from $19.75 to $20.25 and gave the stock a “buy” rating in a research note on Monday, October 21st.

Alpine Income Property Trust Price Performance

Shares of PINE stock opened at $17.10 on Tuesday. The firm’s 50 day moving average price is $17.77 and its two-hundred day moving average price is $17.21. The company has a debt-to-equity ratio of 1.03, a quick ratio of 3.85 and a current ratio of 3.85. Alpine Income Property Trust has a 52-week low of $14.32 and a 52-week high of $19.42. The stock has a market cap of $244.07 million, a PE ratio of 77.73, a PEG ratio of 1.73 and a beta of 0.79.

Alpine Income Property Trust (NYSE:PINE) last posted its quarterly earnings results on Thursday, October 17th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.19). The company had revenue of $13.48 million during the quarter, compared to the consensus estimate of $12.08 million. Alpine Income Property Trust had a return on equity of 1.23% and a net margin of 6.72%. During the same quarter in the prior year, the business earned $0.37 earnings per share. As a group, analysts forecast that Alpine Income Property Trust will post 1.71 EPS for the current year.

Alpine Income Property Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Thursday, December 12th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 6.55%. The ex-dividend date of this dividend is Thursday, December 12th. Alpine Income Property Trust’s dividend payout ratio is 509.09%.

Insider Activity

In related news, Director Wein Rachel Elias sold 2,000 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $18.00, for a total value of $36,000.00. Following the completion of the transaction, the director now owns 9,492 shares of the company’s stock, valued at approximately $170,856. This trade represents a 17.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 3,500 shares of company stock worth $62,975 over the last three months. Corporate insiders own 0.74% of the company’s stock.

Institutional Investors Weigh In On Alpine Income Property Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sound Income Strategies LLC boosted its holdings in shares of Alpine Income Property Trust by 8.3% in the 3rd quarter. Sound Income Strategies LLC now owns 795,428 shares of the company’s stock valued at $14,477,000 after buying an additional 60,659 shares during the last quarter. State Street Corp raised its position in Alpine Income Property Trust by 18.7% during the third 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 in the last quarter. Renaissance Technologies LLC bought a new stake in Alpine Income Property Trust during the second quarter worth $647,000. Jane Street Group LLC raised its position in Alpine Income Property Trust by 216.2% during the third quarter. Jane Street Group LLC now owns 43,486 shares of the company’s stock worth $791,000 after acquiring an additional 29,735 shares in the last quarter. Finally, Martingale Asset Management L P bought a new position in shares of Alpine Income Property Trust in the 3rd quarter valued at about $441,000. 60.50% of the stock is owned by institutional investors.

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.