Alpine Income Property Trust, Inc. (NYSE:PINE) Given Average Recommendation of “Moderate Buy” by Brokerages

Alpine Income Property Trust, Inc. (NYSE:PINE) has been assigned an average recommendation of “Moderate Buy” from the nine brokerages that are presently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $19.25.

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

Insider Buying and Selling

In other news, Director Wein Rachel Elias sold 2,000 shares of the company’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 sale, the director now directly owns 9,492 shares of the company’s stock, valued at approximately $170,856. This represents a 17.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.74% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Alpine Income Property Trust

Several institutional investors and hedge funds have recently made changes to their positions in PINE. Sound Income Strategies LLC raised 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 worth $14,477,000 after acquiring an additional 60,659 shares during the last quarter. State Street Corp lifted its position in shares of 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. State of New Jersey Common Pension Fund D lifted its holdings in shares of Alpine Income Property Trust by 8.6% in the third quarter. State of New Jersey Common Pension Fund D now owns 188,703 shares of the company’s stock worth $3,434,000 after buying an additional 15,000 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Alpine Income Property Trust by 7.6% during the second quarter. Dimensional Fund Advisors LP now owns 117,280 shares of the company’s stock valued at $1,825,000 after buying an additional 8,332 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in Alpine Income Property Trust by 5.2% in the second quarter. Bank of New York Mellon Corp now owns 94,923 shares of the company’s stock valued at $1,477,000 after purchasing an additional 4,723 shares in the last quarter. Institutional investors own 60.50% of the company’s stock.

Alpine Income Property Trust Stock Performance

Shares of NYSE:PINE opened at $16.92 on Friday. The business has a 50-day moving average price of $17.44 and a two-hundred day moving average price of $17.32. The stock has a market capitalization of $241.50 million, a P/E ratio of 76.91, a P/E/G ratio of 1.67 and a beta of 0.79. Alpine Income Property Trust has a 1-year low of $14.32 and a 1-year high of $19.42. The company has a current ratio of 3.85, a quick ratio of 3.85 and a debt-to-equity ratio of 1.03.

Alpine Income Property Trust (NYSE:PINE) last issued its 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 net margin of 6.72% and a return on equity of 1.23%. The firm had revenue of $13.48 million during the quarter, compared to the consensus estimate of $12.08 million. During the same period in the previous year, the company posted $0.37 EPS. Equities analysts predict that Alpine Income Property Trust will post 1.71 earnings per share for the current year.

Alpine Income Property Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Thursday, December 12th were given a dividend of $0.28 per share. The ex-dividend date was Thursday, December 12th. This represents a $1.12 dividend on an annualized basis and a yield of 6.62%. Alpine Income Property Trust’s dividend payout ratio is currently 509.09%.

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.