AlphaCentric Advisors LLC Purchases New Position in Alpine Income Property Trust, Inc. $PINE

Key Points

• AlphaCentric Advisors acquired 75,000 shares of Alpine Income Property Trust in the third quarter, worth about $1.3 million and representing 0.42% of the company.
• Analysts’ consensus rating is Buy, with an average price target of $20.50; several firms recently lowered their targets, while Zacks upgraded the stock to Strong Buy.
• Alpine reported quarterly EPS of $0.18, topping the $0.17 estimate, and revenue of $20.46 million, ahead of the $20.19 million consensus.

AlphaCentric Advisors LLC purchased a new stake in shares of Alpine Income Property Trust, Inc. (NYSE:PINE - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 75,000 shares of the company's stock, valued at approximately $1,301,000. Alpine Income Property Trust comprises approximately 1.2% of AlphaCentric Advisors LLC's investment portfolio, making the stock its 15th largest holding. AlphaCentric Advisors LLC owned 0.42% of Alpine Income Property Trust as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in PINE. BlackRock Inc. acquired a new position in Alpine Income Property Trust in the second quarter valued at about $28,048,000. Heartland Advisors Inc. purchased a new position in Alpine Income Property Trust during the 2nd quarter valued at about $9,449,000. Dimensional Fund Advisors LP lifted its stake in shares of Alpine Income Property Trust by 14.1% in 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 during the period. Renaissance Technologies LLC raised its stake in Alpine Income Property Trust by 87.1% during the first quarter. Renaissance Technologies LLC now owns 121,200 shares of the company's stock valued at $2,182,000 after purchasing an additional 56,422 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Alpine Income Property Trust during the second quarter valued at about $1,813,000. Institutional investors own 60.50% of the company's stock.

Wall Street Analysts Forecast Growth

PINE has been the subject of a number of recent analyst reports. Zacks Research upgraded shares of Alpine Income Property Trust from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 19th. Alliance Global Partners reaffirmed a "buy" rating on shares of Alpine Income Property Trust in a research report on Friday, July 24th. Stifel Nicolaus cut their target price on Alpine Income Property Trust from $21.25 to $20.00 and set a "buy" rating on the stock in a research note on Friday, October 23rd. Truist Financial cut their price target on Alpine Income Property Trust from $19.00 to $17.00 and set a "hold" rating for the company in a research note on Tuesday. Finally, JonesTrading reduced their price target on shares of Alpine Income Property Trust from $23.00 to $20.00 and set a "buy" rating on the stock in a research report on Friday, October 23rd. Three 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 company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $20.50.

Alpine Income Property Trust Stock Down 0.2%

PINE opened at $16.63 on Friday. The business's fifty day simple moving average is $17.70 and its 200 day simple moving average is $19.03. 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 stock has a market cap of $298.34 million, a PE ratio of 36.15, a P/E/G ratio of 1.10 and a beta of 0.59. Alpine Income Property Trust, Inc. has a 52 week low of $15.03 and a 52 week high of $21.99.

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

Alpine Income Property Trust 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.

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