Alpine Income Property Trust (NYSE:PINE) Price Target Cut to $18.00

Alpine Income Property Trust (NYSE:PINE) had its target price lowered by Jonestrading from $19.00 to $18.00 in a research note published on Friday morning, Benzinga reports. Jonestrading currently has a buy rating on the stock.

A number of other research analysts also recently weighed in on the company. Stifel Nicolaus cut their price target on Alpine Income Property Trust from $19.00 to $18.75 and set a buy rating on the stock in a research note on Friday. Alliance Global Partners assumed coverage on Alpine Income Property Trust in a research note on Thursday, April 11th. They issued a buy rating and a $19.00 price target on the stock. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of Buy and an average price target of $18.35.

Alpine Income Property Trust Stock Up 2.8 %

Shares of PINE opened at $15.29 on Friday. The firm has a market capitalization of $208.25 million, a price-to-earnings ratio of -382.25, a PEG ratio of 1.59 and a beta of 0.80. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.31 and a current ratio of 1.31. The business’s fifty day moving average price is $15.43 and its two-hundred day moving average price is $15.92. Alpine Income Property Trust has a 52 week low of $14.25 and a 52 week high of $17.72.

Alpine Income Property Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 7.19%. The ex-dividend date of this dividend was Wednesday, March 13th. Alpine Income Property Trust’s dividend payout ratio is -2,750.00%.

Institutional Trading of Alpine Income Property Trust

Hedge funds and other institutional investors have recently modified their holdings of the company. Sound Income Strategies LLC grew its holdings in shares of 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 valued at $9,994,000 after acquiring an additional 79,969 shares in the last quarter. Guardian Wealth Management Inc. grew its holdings in shares of 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 valued at $658,000 after acquiring an additional 1,138 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of 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 valued at $49,000 after acquiring an additional 2,205 shares in the last quarter. State of New Jersey Common Pension Fund D grew its holdings in shares of 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 valued at $3,771,000 after acquiring an additional 10,000 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Alpine Income Property Trust in the 4th quarter valued at about $117,000. 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.