Alpine Income Property Trust (NYSE:PINE) Price Target Lowered to $19.00 at Jones Trading

Key Points

• Alpine Income Property Trust (NYSE:PINE) saw its price target reduced from $20.00 to $19.00 by Jones Trading, which maintains a "buy" rating on the stock.
• The new price target suggests a potential upside of 32.91% from the company's current trading price of $14.30.
• Overall, the stock has an average rating of "Moderate Buy" and an average price target of $18.44 from various analysts.
• Institutional investors currently own 60.50% of Alpine Income Property Trust's shares, indicating strong institutional interest in the stock.

Alpine Income Property Trust (NYSE:PINE - Free Report) had its target price reduced by Jones Trading from $20.00 to $19.00 in a research report report published on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms have also issued reports on PINE. Stifel Nicolaus dropped their target price on shares of Alpine Income Property Trust from $18.50 to $17.50 and set a "buy" rating for the company in a report on Friday. UBS Group dropped their target price on Alpine Income Property Trust from $16.00 to $15.00 and set a "neutral" rating for the company in a report on Wednesday, July 16th. Alliance Global Partners reiterated a "buy" rating on shares of Alpine Income Property Trust in a report on Friday, April 25th. Finally, Industrial Alliance Securities set a $19.00 price target on Alpine Income Property Trust in a report on Friday, April 25th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $18.44.

Alpine Income Property Trust Stock Performance

Shares of Alpine Income Property Trust stock traded up $0.59 on Friday, reaching $14.55. 133,170 shares of the stock were exchanged, compared to its average volume of 99,411. Alpine Income Property Trust has a twelve month low of $13.95 and a twelve month high of $19.42. The firm has a market capitalization of $206.03 million, a price-to-earnings ratio of -291.00, a PEG ratio of 1.32 and a beta of 0.58. The business has a 50 day moving average price of $14.85 and a two-hundred day moving average price of $15.72. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.40.

Alpine Income Property Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Thursday, June 12th were given a $0.285 dividend. This represents a $1.14 annualized dividend and a yield of 7.84%. The ex-dividend date of this dividend was Thursday, June 12th. Alpine Income Property Trust's dividend payout ratio is currently -2,280.00%.

Hedge Funds Weigh In On Alpine Income Property Trust

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Sound Income Strategies LLC lifted its stake in Alpine Income Property Trust by 10.2% during the second quarter. Sound Income Strategies LLC now owns 1,047,055 shares of the company's stock worth $15,402,000 after purchasing an additional 96,519 shares during the last quarter. Jeppson Wealth Management LLC purchased a new stake in Alpine Income Property Trust during the second quarter worth approximately $152,000. Rhumbline Advisers lifted its stake in Alpine Income Property Trust by 3.7% during the first quarter. Rhumbline Advisers now owns 20,652 shares of the company's stock worth $345,000 after purchasing an additional 736 shares during the last quarter. Strs Ohio purchased a new stake in Alpine Income Property Trust during the first quarter worth approximately $42,000. Finally, Acadian Asset Management LLC purchased a new stake in Alpine Income Property Trust during the first quarter worth approximately $1,112,000. 60.50% of the stock is owned by institutional investors and hedge funds.

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.