Alpine Income Property Trust (NYSE:PINE) Price Target Cut to $20.00 by Analysts at Stifel Nicolaus

Key Points

• Stifel Nicolaus cut Alpine Income Property Trust’s price target to $20.00 from $21.25 while maintaining a “buy” rating, implying approximately 14.7% upside from the $17.43 share price.
• Analyst sentiment remains positive, with the stock carrying a consensus “buy” rating and an average price target of $21.12; three analysts rate it a strong buy, five a buy, and three a hold.
• Alpine exceeded quarterly expectations, reporting earnings of $0.18 per share versus the $0.17 consensus and revenue of $20.46 million compared with estimates of $20.19 million.

Alpine Income Property Trust (NYSE:PINE - Get Free Report) had its price objective decreased by Stifel Nicolaus from $21.25 to $20.00 in a report released on Friday, Benzinga reports. The brokerage currently has a "buy" rating on the stock. Stifel Nicolaus's price objective indicates a potential upside of 14.71% from the company's current price.

A number of other research analysts have also recently commented on the company. Alliance Global Partners reaffirmed a "buy" rating on shares of Alpine Income Property Trust in a research report on Friday, July 24th. JonesTrading lifted their price objective on Alpine Income Property Trust from $22.00 to $23.00 and gave the stock a "buy" rating in a report on Friday, July 24th. Huntington initiated coverage on Alpine Income Property Trust in a research note on Wednesday, July 15th. They issued an "outperform" rating and a $23.00 price objective on the stock. Truist Financial dropped 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. Finally, Zacks Research raised shares of Alpine Income Property Trust from a "hold" rating to a "strong-buy" rating in a report on Monday. Three equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $21.12.

Alpine Income Property Trust Price Performance

Alpine Income Property Trust stock opened at $17.43 on Friday. Alpine Income Property Trust has a 12 month low of $13.63 and a 12 month high of $21.99. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 1.03. The business's 50 day simple moving average is $18.39 and its 200 day simple moving average is $19.29. The company has a market cap of $312.61 million, a price-to-earnings ratio of 91.77, a PEG ratio of 1.13 and a beta of 0.56.

Alpine Income Property Trust (NYSE:PINE - Get Free Report) last announced its quarterly earnings data on Thursday, October 22nd. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.01. Alpine Income Property Trust had a return on equity of 2.11% and a net margin of 9.36%. The business had revenue of $20.46 million during the quarter, compared to analyst estimates of $20.19 million. Sell-side analysts forecast that Alpine Income Property Trust will post 2.17 EPS for the current year.

Insider Activity

In other Alpine Income Property Trust news, Director Andrew Richardson sold 2,000 shares of the stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $20.28, for a total transaction of $40,560.00. Following the sale, the director owned 8,425 shares in the company, valued at $170,859. This represents a 19.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Alpine Income Property Trust

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Guardian Wealth Management Inc. grew its holdings in Alpine Income Property Trust by 7.5% during the 2nd quarter. Guardian Wealth Management Inc. now owns 79,412 shares of the company's stock valued at $1,649,000 after buying an additional 5,546 shares in the last quarter. Triumph Capital Management lifted its holdings in shares of Alpine Income Property Trust by 11.0% in the second quarter. Triumph Capital Management now owns 23,864 shares of the company's stock worth $495,000 after buying an additional 2,358 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in shares of Alpine Income Property Trust by 28.5% in the second quarter. Hsbc Holdings PLC now owns 60,957 shares of the company's stock worth $1,267,000 after buying an additional 13,519 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Alpine Income Property Trust in the second quarter worth about $573,000. Finally, Odyssean LLC bought a new position in shares of Alpine Income Property Trust in the second quarter valued at approximately $467,000. 60.50% of the stock is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.