B. Riley Has Bullish Estimate for PINE FY2024 Earnings

Alpine Income Property Trust, Inc. (NYSE:PINE) – Analysts at B. Riley increased their FY2024 earnings per share estimates for shares of Alpine Income Property Trust in a report released on Monday, November 18th. B. Riley analyst J. Massocca now anticipates that the company will earn $1.73 per share for the year, up from their previous estimate of $1.64. B. Riley currently has a “Buy” rating and a $20.00 price target on the stock. The consensus estimate for Alpine Income Property Trust’s current full-year earnings is $1.70 per share. B. Riley also issued estimates for Alpine Income Property Trust’s Q4 2024 earnings at $0.45 EPS, Q1 2025 earnings at $0.47 EPS, Q2 2025 earnings at $0.47 EPS, Q3 2025 earnings at $0.47 EPS, Q4 2025 earnings at $0.45 EPS, FY2025 earnings at $1.86 EPS and FY2026 earnings at $1.77 EPS.

Alpine Income Property Trust (NYSE:PINE) last announced its quarterly earnings results on Thursday, October 17th. The company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.19). Alpine Income Property Trust had a return on equity of 1.23% and a net margin of 6.72%. The company had revenue of $13.48 million for the quarter, compared to analyst estimates of $12.08 million. During the same quarter in the previous year, the company posted $0.37 earnings per share.

Several other analysts also recently weighed in on PINE. Stifel Nicolaus lifted their target price on Alpine Income Property Trust from $19.75 to $20.25 and gave the company a “buy” rating in a research note on Monday, October 21st. 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 report on Tuesday, July 30th. Alliance Global Partners raised their target price on shares of Alpine Income Property Trust from $20.00 to $21.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Raymond James boosted their price target on shares of Alpine Income Property Trust from $18.00 to $19.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 21st. Finally, UBS Group initiated coverage on shares of Alpine Income Property Trust in a report on Monday, October 14th. They issued a “neutral” rating and a $19.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $19.25.

Alpine Income Property Trust Stock Up 0.2 %

PINE stock opened at $17.70 on Tuesday. The company has a quick ratio of 3.85, a current ratio of 3.85 and a debt-to-equity ratio of 1.03. The firm’s 50-day simple moving average is $17.91 and its 200 day simple moving average is $16.95. The stock has a market cap of $252.58 million, a PE ratio of 80.46, a price-to-earnings-growth ratio of 1.73 and a beta of 0.80. Alpine Income Property Trust has a fifty-two week low of $14.32 and a fifty-two week high of $19.42.

Hedge Funds Weigh In On Alpine Income Property Trust

Several institutional investors and hedge funds have recently bought and sold shares of PINE. Sound Income Strategies LLC increased its stake 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 worth $11,433,000 after acquiring an additional 80,725 shares during the last quarter. Carlson Capital L P acquired a new position in Alpine Income Property Trust in the 1st quarter worth about $1,202,000. Kennedy Capital Management LLC raised 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 purchasing an additional 59,674 shares in the last quarter. State Street Corp lifted its holdings in shares of Alpine Income Property Trust by 18.7% during the 3rd quarter. State Street Corp now owns 272,081 shares of the company’s stock valued at $4,952,000 after buying an additional 42,889 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of Alpine Income Property Trust in the 2nd quarter valued at approximately $647,000. Hedge funds and other 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.