Alpine Income Property Trust, Inc. (NYSE:PINE) Receives $18.89 Consensus PT from Analysts

Shares of Alpine Income Property Trust, Inc. (NYSE:PINE) have earned a consensus rating of “Moderate Buy” from the seven research firms that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $18.89.

PINE has been the topic of a number of recent research reports. Stifel Nicolaus increased their target price on Alpine Income Property Trust from $18.00 to $19.25 and gave the company a “buy” rating in a report on Friday, July 19th. Truist Financial upped their target price on shares of Alpine Income Property Trust from $16.00 to $18.00 and gave the company a “hold” rating in a report on Tuesday, July 30th. B. Riley reiterated a “buy” rating and set 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, Raymond James 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 research report on Wednesday, August 21st.

Alpine Income Property Trust Stock Performance

Shares of PINE stock opened at $17.70 on Thursday. The firm has a market capitalization of $241.25 million, a PE ratio of -442.50, a P/E/G ratio of 1.85 and a beta of 0.80. The company has a 50 day moving average price of $17.93 and a 200-day moving average price of $16.31. Alpine Income Property Trust has a 52 week low of $14.25 and a 52 week high of $19.42. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.00.

Alpine Income Property Trust (NYSE:PINE) last announced its earnings results on Thursday, July 18th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.38). The company had revenue of $12.49 million for the quarter, compared to analysts’ expectations of $12.10 million. Alpine Income Property Trust had a negative net margin of 1.16% and a negative return on equity of 0.20%. During the same quarter in the prior year, the firm posted $0.37 earnings per share. As a group, equities research analysts expect that Alpine Income Property Trust will post 1.65 earnings per share for the current year.

Alpine Income Property Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 12th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 6.33%. This is an increase from Alpine Income Property Trust’s previous quarterly dividend of $0.28. The ex-dividend date was Thursday, September 12th. Alpine Income Property Trust’s dividend payout ratio (DPR) is presently -2,800.00%.

Insider Activity at Alpine Income Property Trust

In other Alpine Income Property Trust news, major shareholder Cto Realty Growth, Inc. purchased 6,262 shares of the business’s stock in a transaction on Friday, July 5th. The stock was acquired at an average price of $15.00 per share, for a total transaction of $93,930.00. Following the purchase, the insider now owns 196,356 shares of the company’s stock, valued at approximately $2,945,340. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.74% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in shares of Alpine Income Property Trust by 0.9% during the first quarter. Vanguard Group Inc. now owns 755,563 shares of the company’s stock worth $11,545,000 after acquiring an additional 6,522 shares during the last quarter. Sound Income Strategies LLC boosted its holdings in shares of Alpine Income Property Trust by 12.3% during the 2nd quarter. Sound Income Strategies LLC now owns 734,769 shares of the company’s stock valued at $11,433,000 after purchasing an additional 80,725 shares during the last quarter. Heartland Advisors Inc. increased its holdings 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 worth $9,350,000 after purchasing an additional 211,900 shares during the last quarter. Russell Investments Group Ltd. lifted its position in shares of Alpine Income Property Trust by 7.7% in the first quarter. Russell Investments Group Ltd. now owns 493,508 shares of the company’s stock worth $7,541,000 after buying an additional 35,151 shares in the last quarter. Finally, Kennedy Capital Management LLC boosted its stake 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 valued at $5,814,000 after buying an additional 59,674 shares during the last quarter. 60.50% of the stock is currently 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.