Raymond James Raises Alpine Income Property Trust (NYSE:PINE) Price Target to $19.00

Alpine Income Property Trust (NYSE:PINE) had its target price raised by Raymond James from $18.00 to $19.00 in a research report released on Wednesday morning, Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other equities research analysts also recently issued reports on the company. Stifel Nicolaus increased their price target on Alpine Income Property Trust from $18.00 to $19.25 and gave the stock a buy rating in a research report on Friday, July 19th. B. Riley reissued a buy rating and set a $20.00 target price (up from $19.50) on shares of Alpine Income Property Trust in a report on Wednesday, July 24th. Finally, 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. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $18.89.

Alpine Income Property Trust Trading Up 2.6 %

Shares of Alpine Income Property Trust stock opened at $18.23 on Wednesday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a 50-day moving average of $16.42 and a 200-day moving average of $15.76. Alpine Income Property Trust has a 52-week low of $14.25 and a 52-week high of $18.27. The stock has a market cap of $248.47 million, a PE ratio of -455.75, a PEG ratio of 1.75 and a beta of 0.79.

Alpine Income Property Trust (NYSE:PINE) last posted its quarterly earnings data on Thursday, July 18th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $12.49 million during the quarter, compared to the consensus estimate of $12.10 million. During the same period in the prior year, the firm earned $0.37 EPS. As a group, sell-side analysts forecast that Alpine Income Property Trust will post 1.64 EPS for the current year.

Alpine Income Property Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Thursday, September 12th will be given a dividend of $0.28 per share. This is an increase from Alpine Income Property Trust’s previous quarterly dividend of $0.28. This represents a $1.12 annualized dividend and a dividend yield of 6.14%. The ex-dividend date is Thursday, September 12th. Alpine Income Property Trust’s dividend payout ratio is currently -2,750.00%.

Insider Activity at Alpine Income Property Trust

In related news, major shareholder Cto Realty Growth, Inc. bought 7,959 shares of the company’s stock in a transaction dated Thursday, June 27th. The stock was purchased at an average price of $14.97 per share, with a total value of $119,146.23. Following the completion of the acquisition, the insider now owns 190,094 shares of the company’s stock, valued at $2,845,707.18. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders have acquired 21,804 shares of company stock valued at $326,747 over the last ninety days. 0.74% of the stock is owned by corporate insiders.

Institutional Trading of Alpine Income Property Trust

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC boosted its holdings in shares of Alpine Income Property Trust by 312.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,910 shares of the company’s stock valued at $49,000 after acquiring an additional 2,205 shares in the last quarter. Rhumbline Advisers raised its position in Alpine Income Property Trust by 8.0% in the second quarter. Rhumbline Advisers now owns 17,197 shares of the company’s stock valued at $268,000 after purchasing an additional 1,272 shares during the last quarter. Tidal Investments LLC boosted its stake in shares of Alpine Income Property Trust by 5.8% during the first quarter. Tidal Investments LLC now owns 19,466 shares of the company’s stock valued at $297,000 after purchasing an additional 1,064 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Alpine Income Property Trust during the second quarter worth about $352,000. Finally, Renaissance Technologies LLC acquired a new position in shares of Alpine Income Property Trust in the second quarter valued at approximately $647,000. 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.