Alpine Income Property Trust (NYSE:PINE) Given New $21.00 Price Target at Alliance Global Partners

Alpine Income Property Trust (NYSE:PINE) had its price target lifted by Alliance Global Partners from $20.00 to $21.00 in a report published on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts have also recently issued reports on PINE. UBS Group initiated coverage on Alpine Income Property Trust in a research report on Monday, October 14th. They set a “neutral” rating and a $19.00 price objective on the stock. Raymond James boosted their price objective on 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. B. Riley restated a “buy” rating and set a $20.00 price objective (up from $19.50) on shares of Alpine Income Property Trust in a research report on Wednesday, July 24th. Truist Financial boosted their price target on Alpine Income Property Trust from $16.00 to $18.00 and gave the company a “hold” rating in a research note on Tuesday, July 30th. Finally, Stifel Nicolaus boosted their price target on Alpine Income Property Trust from $18.00 to $19.25 and gave the company a “buy” rating in a research note on Friday, July 19th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.16.

Alpine Income Property Trust Stock Performance

Shares of NYSE PINE opened at $18.41 on Friday. 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’s 50 day moving average is $18.04 and its two-hundred day moving average is $16.49. The company has a market cap of $250.93 million, a P/E ratio of -460.25, a P/E/G ratio of 1.74 and a beta of 0.80. Alpine Income Property Trust has a 12 month low of $14.25 and a 12 month high of $19.42.

Alpine Income Property Trust (NYSE:PINE) last released its quarterly earnings data on Thursday, October 17th. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.19). The firm had revenue of $13.48 million for the quarter, compared to the consensus estimate of $12.08 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. On average, equities 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. Shareholders of record on Thursday, September 12th were paid a $0.28 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $1.12 dividend on an annualized basis and a yield of 6.08%. This is a positive change from Alpine Income Property Trust’s previous quarterly dividend of $0.28. Alpine Income Property Trust’s payout ratio is currently -2,800.00%.

Hedge Funds Weigh In On Alpine Income Property Trust

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Sound Income Strategies LLC boosted its stake in Alpine Income Property Trust by 8.3% in the third quarter. Sound Income Strategies LLC now owns 795,428 shares of the company’s stock worth $14,477,000 after purchasing an additional 60,659 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of Alpine Income Property Trust during the second quarter valued at $647,000. Dimensional Fund Advisors LP lifted its stake in shares of 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 acquiring an additional 8,332 shares during the period. Guardian Wealth Management Inc. lifted its stake in shares of Alpine Income Property Trust by 4.3% during the second quarter. Guardian Wealth Management Inc. now owns 45,681 shares of the company’s stock valued at $711,000 after acquiring an additional 1,882 shares during the period. Finally, ClariVest Asset Management LLC lifted its stake in shares of Alpine Income Property Trust by 2.9% during the second quarter. ClariVest Asset Management LLC now owns 54,299 shares of the company’s stock valued at $845,000 after acquiring an additional 1,516 shares during the period. 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.