Alpine Income Property Trust (NYSE:PINE) Coverage Initiated by Analysts at UBS Group

UBS Group began coverage on shares of Alpine Income Property Trust (NYSE:PINE) in a report published on Monday morning, Marketbeat.com reports. The firm issued a neutral rating and a $19.00 price objective on the stock.

Other analysts have also issued research reports about the company. Stifel Nicolaus increased their price objective 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. B. Riley reaffirmed 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 note on Wednesday, July 24th. Truist Financial increased their price objective 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, Raymond James increased their price objective on Alpine Income Property Trust from $18.00 to $19.00 and gave the company an outperform rating in a research note on Wednesday, August 21st. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $18.91.

Alpine Income Property Trust Trading Down 3.8 %

Shares of PINE stock opened at $17.22 on Monday. Alpine Income Property Trust has a fifty-two week low of $14.25 and a fifty-two week high of $19.42. The stock has a market cap of $234.59 million, a P/E ratio of -430.50, a P/E/G ratio of 1.76 and a beta of 0.80. The business has a fifty day simple moving average of $17.97 and a 200-day simple moving average of $16.44. 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 quarterly 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). 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 during the quarter, compared to analysts’ expectations of $12.10 million. During the same quarter in the prior year, the business earned $0.37 EPS. On average, analysts forecast that Alpine Income Property Trust will post 1.65 earnings per share for the current fiscal 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 issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 6.50%. 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 -2,800.00%.

Hedge Funds Weigh In On Alpine Income Property Trust

Large investors have recently modified their holdings of the company. Rhumbline Advisers raised its holdings in shares of Alpine Income Property Trust by 8.0% during the 2nd quarter. Rhumbline Advisers now owns 17,197 shares of the company’s stock valued at $268,000 after buying an additional 1,272 shares during the period. Tidal Investments LLC raised its holdings 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 buying an additional 1,064 shares during the period. Los Angeles Capital Management LLC purchased a new stake in Alpine Income Property Trust during the 2nd quarter worth approximately $352,000. Renaissance Technologies LLC acquired a new position in shares of Alpine Income Property Trust in the 2nd quarter valued at approximately $647,000. Finally, Guardian Wealth Management Inc. raised its position in shares of Alpine Income Property Trust by 4.3% in the 2nd quarter. Guardian Wealth Management Inc. now owns 45,681 shares of the company’s stock valued at $711,000 after purchasing an additional 1,882 shares in the last quarter. 60.50% of the stock is currently owned by hedge funds and other 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.