Alliance Global Partners Raises Alpine Income Property Trust (NYSE:PINE) Price Target to $21.00

Alpine Income Property Trust (NYSE:PINE) had its price objective hoisted by Alliance Global Partners from $20.00 to $21.00 in a research note released on Friday, Benzinga reports. Alliance Global Partners currently has a buy rating on the stock.

A number of other equities research analysts have also recently commented on PINE. Raymond James increased their target price on shares of 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. Stifel Nicolaus upped their price target on shares of Alpine Income Property Trust from $18.00 to $19.25 and gave the company a “buy” rating in a report on Friday, July 19th. UBS Group assumed coverage on Alpine Income Property Trust in a research report on Monday, October 14th. They issued a “neutral” rating and a $19.00 price objective on the stock. B. Riley restated a “buy” rating and issued a $20.00 price target (up previously from $19.50) on shares of Alpine Income Property Trust in a research note on Wednesday, July 24th. Finally, Truist Financial upped their price objective on shares of 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. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $19.25.

Alpine Income Property Trust Stock Down 0.8 %

Shares of PINE opened at $18.33 on Friday. Alpine Income Property Trust has a 52-week low of $14.25 and a 52-week high of $19.42. The company has a market cap of $249.71 million, a PE ratio of -458.25, a P/E/G ratio of 1.74 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. The business has a fifty day moving average of $18.07 and a 200 day moving average of $16.53.

Alpine Income Property Trust (NYSE:PINE) last posted its quarterly earnings results on Thursday, October 17th. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.19). Alpine Income Property Trust had a negative return on equity of 0.20% and a negative net margin of 1.16%. The company had revenue of $13.48 million during the quarter, compared to analysts’ expectations of $12.08 million. During the same period in the prior year, the business earned $0.37 EPS. On average, sell-side 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 disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 12th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 6.11%. The ex-dividend date of this dividend was Thursday, September 12th. This is a boost from Alpine Income Property Trust’s previous quarterly dividend of $0.28. Alpine Income Property Trust’s dividend payout ratio is currently -2,800.00%.

Institutional Investors Weigh In On Alpine Income Property Trust

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. grew its holdings in Alpine Income Property Trust by 7.7% in the 1st quarter. Russell Investments Group Ltd. now owns 493,508 shares of the company’s stock valued at $7,541,000 after buying an additional 35,151 shares in the last quarter. Sound Income Strategies LLC grew its holdings in shares of Alpine Income Property Trust by 13.9% in the first quarter. Sound Income Strategies LLC now owns 654,044 shares of the company’s stock valued at $9,994,000 after purchasing an additional 79,969 shares during the period. Kennedy Capital Management LLC increased its position in Alpine Income Property Trust by 18.6% during the first 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 last quarter. Renaissance Technologies LLC purchased a new position in Alpine Income Property Trust during the second quarter worth about $647,000. Finally, Vanguard Group Inc. boosted its holdings in Alpine Income Property Trust by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 755,563 shares of the company’s stock valued at $11,545,000 after purchasing an additional 6,522 shares during the last quarter. Institutional investors and hedge funds 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.