Alpine Income Property Trust (NYSE:PINE) Now Covered by Alliance Global Partners

Alliance Global Partners assumed coverage on shares of Alpine Income Property Trust (NYSE:PINE - Free Report) in a research report released on Thursday, MarketBeat reports. The brokerage issued a buy rating and a $19.00 price objective on the stock.

Separately, Jonestrading cut their target price on shares of Alpine Income Property Trust from $20.00 to $19.00 and set a buy rating for the company in a research report on Monday, February 12th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of Buy and an average target price of $19.60.

Alpine Income Property Trust Price Performance

PINE stock traded up $0.29 during mid-day trading on Thursday, reaching $15.29. 38,501 shares of the company traded hands, compared to its average volume of 52,176. The company has a fifty day moving average price of $15.50 and a 200-day moving average price of $15.99. The company has a market capitalization of $208.25 million, a P/E ratio of 79.00, a P/E/G ratio of 1.64 and a beta of 0.80. Alpine Income Property Trust has a 52-week low of $14.25 and a 52-week high of $17.72. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.64 and a quick ratio of 2.64.

Alpine Income Property Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were issued a $0.275 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 7.19%. Alpine Income Property Trust's payout ratio is 578.98%.

Hedge Funds Weigh In On Alpine Income Property Trust

Several institutional investors and hedge funds have recently made changes to their positions in the business. Royal Bank of Canada grew its position in Alpine Income Property Trust by 5.2% during the 3rd quarter. Royal Bank of Canada now owns 11,396 shares of the company's stock worth $185,000 after acquiring an additional 565 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Alpine Income Property Trust by 17.5% during the fourth quarter. JPMorgan Chase & Co. now owns 4,275 shares of the company's stock valued at $82,000 after purchasing an additional 636 shares during the period. UBS Group AG grew its holdings in shares of Alpine Income Property Trust by 3.0% in the first quarter. UBS Group AG now owns 24,253 shares of the company's stock worth $455,000 after purchasing an additional 703 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Alpine Income Property Trust by 1.2% in the third quarter. Bank of New York Mellon Corp now owns 61,910 shares of the company's stock worth $1,005,000 after purchasing an additional 738 shares during the last quarter. Finally, Rhumbline Advisers increased its stake in shares of Alpine Income Property Trust by 2.9% in the third quarter. Rhumbline Advisers now owns 27,151 shares of the company's stock worth $444,000 after buying an additional 754 shares during the period. Institutional investors 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.