Alpine Income Property Trust (NYSE:PINE) PT Raised to $20.25

Alpine Income Property Trust (NYSE:PINE) had its price objective raised by Stifel Nicolaus from $19.75 to $20.25 in a research report sent to investors on Monday morning, Benzinga reports. They currently have a buy rating on the stock.

Other analysts have also issued reports about the stock. Alliance Global Partners lifted their price target on shares of Alpine Income Property Trust from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. B. Riley reaffirmed a “buy” rating and issued a $20.00 target price (up previously from $19.50) on shares of Alpine Income Property Trust in a research report on Wednesday, July 24th. Truist Financial increased their price target on Alpine Income Property Trust from $16.00 to $18.00 and gave the company a “hold” rating in a report on Tuesday, July 30th. Robert W. Baird lifted their price objective on Alpine Income Property Trust from $18.00 to $19.00 and gave the stock an “outperform” rating in a report on Monday. Finally, Raymond James increased their target price on Alpine Income Property Trust from $18.00 to $19.00 and gave the company an “outperform” rating in a report on Wednesday, August 21st. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $19.25.

Alpine Income Property Trust Price Performance

Shares of PINE opened at $18.26 on Monday. Alpine Income Property Trust has a twelve month low of $14.25 and a twelve month high of $19.42. The company has a market capitalization of $260.57 million, a P/E ratio of 83.00, a price-to-earnings-growth ratio of 1.78 and a beta of 0.80. The firm has a 50 day moving average of $18.12 and a 200 day moving average of $16.57. The company has a quick ratio of 3.85, a current ratio of 3.85 and a debt-to-equity ratio of 1.03.

Alpine Income Property Trust (NYSE:PINE) last posted its quarterly earnings results on Thursday, October 17th. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.19). Alpine Income Property Trust had a return on equity of 1.23% and a net margin of 6.72%. The business had revenue of $13.48 million during the quarter, compared to analysts’ expectations of $12.08 million. During the same quarter in the prior year, the firm earned $0.37 EPS. As a group, equities research analysts anticipate that Alpine Income Property Trust will post 1.71 earnings per share for the current fiscal year.

Alpine Income Property Trust Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 12th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 6.13%. This is a positive change from Alpine Income Property Trust’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Thursday, September 12th. Alpine Income Property Trust’s dividend payout ratio is currently 509.11%.

Hedge Funds Weigh In On Alpine Income Property Trust

A number of hedge funds have recently modified their holdings of the company. Tidal Investments LLC raised its position in shares of Alpine Income Property Trust by 5.8% during the 1st 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 during the period. Rhumbline Advisers raised its holdings in Alpine Income Property Trust by 8.0% during the second quarter. Rhumbline Advisers now owns 17,197 shares of the company’s stock valued at $268,000 after acquiring an additional 1,272 shares during the period. ClariVest Asset Management LLC lifted its position in shares of Alpine Income Property Trust by 2.9% in 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 in the last quarter. Guardian Wealth Management Inc. boosted its stake in shares of Alpine Income Property Trust by 4.3% in the second quarter. Guardian Wealth Management Inc. now owns 45,681 shares of the company’s stock worth $711,000 after acquiring an additional 1,882 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of Alpine Income Property Trust by 5.2% during the second quarter. Bank of New York Mellon Corp now owns 94,923 shares of the company’s stock worth $1,477,000 after purchasing an additional 4,723 shares in 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.