Huntington Sec Initiates Coverage on Alpine Income Property Trust (NYSE:PINE)

Equities researchers at Huntington Sec initiated coverage on shares of Alpine Income Property Trust (NYSE:PINE) in a research report issued to clients and investors on Tuesday, Zacks reports. The firm set a “strong-buy” rating on the stock.

Several other equities research analysts also recently issued reports on PINE. JonesTrading cut their price target on Alpine Income Property Trust from $23.00 to $20.00 and set a “buy” rating for the company in a report on Friday, October 23rd. Robert W. Baird downgraded shares of Alpine Income Property Trust from an “outperform” rating to a “neutral” rating and upped their price objective for the company from $18.00 to $21.00 in a report on Monday, June 29th. Truist Financial decreased their price objective on shares of Alpine Income Property Trust from $20.00 to $19.00 and set a “hold” rating on the stock in a report on Thursday, October 15th. Alliance Global Partners reissued a “buy” rating on shares of Alpine Income Property Trust in a research report on Friday, July 24th. Finally, Cantor Fitzgerald cut their target price on shares of Alpine Income Property Trust from $22.00 to $20.00 and set an “overweight” rating for the company in a research note on Wednesday. Three analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $20.75.

Alpine Income Property Trust Price Performance

NYSE:PINE opened at $16.23 on Tuesday. Alpine Income Property Trust has a 12-month low of $14.35 and a 12-month high of $21.99. The firm has a market capitalization of $291.17 million, a price-to-earnings ratio of 35.28, a P/E/G ratio of 1.05 and a beta of 0.56. The stock’s 50 day moving average price is $18.12 and its two-hundred day moving average price is $19.05. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 1.08.

Alpine Income Property Trust (NYSE:PINE) last issued its earnings results on Thursday, October 22nd. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.17 by $0.01. The company 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%. On average, analysts anticipate that Alpine Income Property Trust will post 2.20 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. BlackRock Inc. bought a new stake in shares of Alpine Income Property Trust during the 2nd quarter valued at $28,048,000. Heartland Advisors Inc. acquired a new stake in shares of Alpine Income Property Trust during the 2nd quarter worth $9,449,000. Dimensional Fund Advisors LP grew its holdings in shares of Alpine Income Property Trust by 14.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 185,819 shares of the company’s stock worth $3,345,000 after purchasing an additional 22,911 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Alpine Income Property Trust by 87.1% during the 1st quarter. Renaissance Technologies LLC now owns 121,200 shares of the company’s stock worth $2,182,000 after purchasing an additional 56,422 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new position in shares of Alpine Income Property Trust in the second quarter worth $1,813,000. 60.50% of the stock is owned by institutional investors.

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.