Alpine Income Property Trust (NYSE:PINE) PT Raised to $18.00 at Truist Financial

Alpine Income Property Trust (NYSE:PINE) had its price objective raised by Truist Financial from $16.00 to $18.00 in a research note released on Tuesday morning, Benzinga reports. They currently have a hold rating on the stock.

Several other equities research analysts have also recently issued reports on PINE. BTIG Research reduced their price objective on shares of Alpine Income Property Trust from $23.00 to $19.00 and set a buy rating on the stock in a research report on Monday, April 22nd. Alliance Global Partners initiated coverage on shares of Alpine Income Property Trust in a research report on Thursday, April 11th. They set a buy rating and a $19.00 price objective on the stock. B. Riley reiterated a buy rating and set a $20.00 price objective (up previously from $19.50) on shares of Alpine Income Property Trust in a research report on Wednesday, July 24th. Stifel Nicolaus lifted their price objective on shares of Alpine Income Property Trust from $18.00 to $19.25 and gave the company a buy rating in a research report on Friday, July 19th. Finally, Jonestrading reduced their price objective on shares of Alpine Income Property Trust from $19.00 to $18.00 and set a buy rating on the stock in a research report on Friday, April 19th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $18.88.

Alpine Income Property Trust Stock Performance

Shares of NYSE:PINE opened at $17.29 on Tuesday. 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 has a 1-year low of $14.25 and a 1-year high of $17.72. The firm’s 50 day simple moving average is $15.85 and its two-hundred day simple moving average is $15.60.

Alpine Income Property Trust (NYSE:PINE) last issued its quarterly earnings results on Thursday, July 18th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.38). Alpine Income Property Trust had a negative net margin of 1.16% and a negative return on equity of 0.20%. The firm had revenue of $12.49 million for the quarter, compared to analysts’ expectations of $12.10 million. During the same period in the prior year, the firm earned $0.37 EPS. On average, research analysts anticipate that Alpine Income Property Trust will post 1.63 EPS for the current year.

Alpine Income Property Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Thursday, June 13th were paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 6.36%. The ex-dividend date of this dividend was Thursday, June 13th. Alpine Income Property Trust’s dividend payout ratio (DPR) is presently -2,750.00%.

Insider Buying and Selling

In other news, major shareholder Cto Realty Growth, Inc. purchased 7,959 shares of the firm’s stock in a transaction on Thursday, June 27th. The stock was acquired at an average cost of $14.97 per share, with a total value of $119,146.23. Following the completion of the transaction, the insider now owns 190,094 shares in the company, valued at approximately $2,845,707.18. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders acquired a total of 21,804 shares of company stock valued at $326,747 over the last three months. 0.74% of the stock is owned by company insiders.

Hedge Funds Weigh In On Alpine Income Property Trust

Hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC acquired a new position in Alpine Income Property Trust in the 4th quarter worth approximately $117,000. State of New Jersey Common Pension Fund D increased its holdings in Alpine Income Property Trust by 4.7% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 223,000 shares of the company’s stock worth $3,771,000 after buying an additional 10,000 shares during the period. Tower Research Capital LLC TRC increased its holdings in Alpine Income Property Trust by 312.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,910 shares of the company’s stock worth $49,000 after buying an additional 2,205 shares during the period. Guardian Wealth Management Inc. increased its holdings in Alpine Income Property Trust by 3.0% in the 4th quarter. Guardian Wealth Management Inc. now owns 38,927 shares of the company’s stock worth $658,000 after buying an additional 1,138 shares during the period. Finally, Sound Income Strategies LLC increased its holdings in Alpine Income Property Trust by 13.9% in the 1st quarter. Sound Income Strategies LLC now owns 654,044 shares of the company’s stock worth $9,994,000 after buying an additional 79,969 shares during the period. Institutional investors and hedge funds own 60.50% of the company’s stock.

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.