Alpine Income Property Trust (NYSE:PINE) Stock Gets Price Target Cut from Truist Financial

Alpine Income Property Trust (NYSE:PINE) had its price objective reduced by Truist Financial from $19.00 to $17.00 in a research note published on Tuesday morning,Benzinga reports. They currently have a hold rating on the stock.

PINE has been the subject of a number of other research reports. Stifel Nicolaus decreased their price target on Alpine Income Property Trust from $21.25 to $20.00 and set a “buy” rating for the company in a report on Friday, October 23rd. JonesTrading dropped their price objective on shares of Alpine Income Property Trust from $23.00 to $20.00 and set a “buy” rating on the stock in a research note on Friday, October 23rd. Huntington initiated coverage on shares of Alpine Income Property Trust in a research report on Tuesday, October 27th. They set a “strong-buy” rating on the stock. Alliance Global Partners reissued a “buy” rating on shares of Alpine Income Property Trust in a research report on Friday, July 24th. Finally, Zacks Research upgraded shares of Alpine Income Property Trust from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 19th. Three equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $20.50.

Alpine Income Property Trust Price Performance

Alpine Income Property Trust stock opened at $16.67 on Tuesday. The firm has a fifty day moving average of $17.76 and a 200-day moving average of $19.04. Alpine Income Property Trust has a 52-week low of $14.85 and a 52-week high of $21.99. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 1.08. The firm has a market capitalization of $299.15 million, a P/E ratio of 36.25, a PEG ratio of 1.10 and a beta of 0.59.

Alpine Income Property Trust (NYSE:PINE) last announced its quarterly earnings results on Thursday, October 22nd. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.01. The firm had revenue of $20.46 million during the quarter, compared to the consensus estimate of $20.19 million. Alpine Income Property Trust had a return on equity of 3.68% and a net margin of 16.55%. As a group, analysts predict that Alpine Income Property Trust will post 2.20 EPS for the current year.

Hedge Funds Weigh In On Alpine Income Property Trust

Institutional investors have recently made changes to their positions in the business. Fifth Third Bancorp acquired a new stake in shares of Alpine Income Property Trust during the 3rd quarter worth approximately $131,000. AlphaCentric Advisors LLC bought a new stake in shares of Alpine Income Property Trust in the 3rd quarter worth approximately $1,301,000. Kestra Advisory Services LLC lifted its holdings in shares of Alpine Income Property Trust by 11.0% in the 3rd quarter. Kestra Advisory Services LLC now owns 25,530 shares of the company’s stock worth $443,000 after purchasing an additional 2,530 shares during the last quarter. Guardian Wealth Management Inc. boosted its position in Alpine Income Property Trust by 7.1% during the 3rd quarter. Guardian Wealth Management Inc. now owns 85,084 shares of the company’s stock valued at $1,476,000 after purchasing an additional 5,672 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. boosted its position in Alpine Income Property Trust by 18.1% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 13,970 shares of the company’s stock valued at $242,000 after purchasing an additional 2,138 shares during the period. 60.50% of the stock is owned by institutional investors and hedge funds.

Alpine Income Property Trust Company Profile

Alpine Income Property Trust, Inc is a real estate investment trust (REIT) that owns and manages a portfolio of income-producing commercial properties in the United States. The company primarily invests in single-tenant net lease properties, under which tenants generally assume responsibility for property expenses such as taxes, insurance and maintenance.

Its portfolio has included retail, office and industrial properties leased to tenants across a range of industries. Alpine seeks to generate rental income through long-term leases and may pursue acquisitions, dispositions and other real estate investments intended to support the growth and diversification of its property portfolio.

Alpine Income Property Trust was formed by CTO Realty Growth, Inc and became a publicly traded company in 2019 following its separation from CTO Realty Growth.