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

Alpine Income Property Trust, Inc. (NYSE:PINE) has received an average rating of “Moderate Buy” from the seven analysts that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $18.89.

Several equities research analysts recently issued reports on the stock. Raymond James raised 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 restated a “buy” rating and issued a $20.00 price target (up from $19.50) on shares of Alpine Income Property Trust in a research note on Wednesday, July 24th. Stifel Nicolaus upped their price objective on Alpine Income Property Trust from $18.00 to $19.25 and gave the company a “buy” rating in a research report on Friday, July 19th. Finally, Truist Financial raised their target price on Alpine Income Property Trust from $16.00 to $18.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th.

Alpine Income Property Trust Trading Down 1.3 %

Shares of NYSE:PINE opened at $18.85 on Friday. Alpine Income Property Trust has a 1 year low of $14.25 and a 1 year high of $19.42. The stock’s fifty day moving average price is $17.11 and its 200-day moving average price is $15.98. The company has a market cap of $256.79 million, a P/E ratio of -471.25, a PEG ratio of 1.93 and a beta of 0.80. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.88 and a quick ratio of 0.88.

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). Alpine Income Property Trust had a negative net margin of 1.16% and a negative return on equity of 0.20%. The company had revenue of $12.49 million for the quarter, compared to the consensus estimate of $12.10 million. During the same quarter in the prior year, the company posted $0.37 EPS. Sell-side analysts expect that Alpine Income Property Trust will post 1.64 earnings per share for the current year.

Alpine Income Property Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 12th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $1.12 annualized dividend and a dividend yield of 5.94%. This is an increase from Alpine Income Property Trust’s previous quarterly dividend of $0.28. Alpine Income Property Trust’s dividend payout ratio (DPR) is -2,800.00%.

Insider Activity

In other news, major shareholder Cto Realty Growth, Inc. bought 6,262 shares of Alpine Income Property Trust stock in a transaction that occurred on Friday, July 5th. The stock was bought at an average cost of $15.00 per share, with a total value of $93,930.00. Following the acquisition, the insider now owns 196,356 shares of the company’s stock, valued at approximately $2,945,340. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have purchased a total of 21,613 shares of company stock valued at $323,882 in the last ninety days. Corporate insiders own 0.74% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. 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 acquiring an additional 211,900 shares in the last quarter. Sound Income Strategies LLC lifted 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 purchasing an additional 80,725 shares in the last quarter. Carlson Capital L P purchased a new position in Alpine Income Property Trust in the 1st quarter worth approximately $1,202,000. Kennedy Capital Management LLC boosted its stake in Alpine Income Property Trust by 18.6% in the 1st quarter. Kennedy Capital Management LLC now owns 380,475 shares of the company’s stock worth $5,814,000 after purchasing an additional 59,674 shares during the period. Finally, Renaissance Technologies LLC purchased a new stake in Alpine Income Property Trust during the 2nd quarter valued at approximately $647,000. Institutional investors own 60.50% of the company’s stock.

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.