Alpine Income Property Trust (NYSE:PINE) Given New $17.00 Price Target at Truist Financial

Alpine Income Property Trust (NYSE:PINE) had its price objective cut by equities researchers at Truist Financial from $19.00 to $17.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has a “hold” rating on the stock. Truist Financial‘s target price would indicate a potential upside of 1.34% from the stock’s previous close.

A number of other analysts have also weighed in on PINE. Cantor Fitzgerald cut their price objective on Alpine Income Property Trust from $22.00 to $20.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 28th. JonesTrading decreased their target price 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. Zacks Research upgraded Alpine Income Property Trust from a “hold” rating to a “strong-buy” rating in a report on Monday, October 19th. Huntington Sec initiated coverage on Alpine Income Property Trust in a research note on Tuesday, October 27th. They set a “strong-buy” rating for the company. Finally, Huntington began coverage on Alpine Income Property Trust in a report on Wednesday, July 15th. They set an “outperform” rating and a $23.00 price target on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Alpine Income Property Trust presently has a consensus rating of “Buy” and an average target price of $20.50.

Alpine Income Property Trust Stock Down 0.9%

PINE traded down $0.14 during trading hours on Tuesday, hitting $16.77. 22,680 shares of the company’s stock were exchanged, compared to its average volume of 170,023. Alpine Income Property Trust has a 12-month low of $14.51 and a 12-month high of $21.99. The firm has a 50 day moving average of $17.94 and a 200 day moving average of $19.05. The firm has a market cap of $300.94 million, a P/E ratio of 36.47, a price-to-earnings-growth ratio of 1.05 and a beta of 0.56. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 1.08.

Alpine Income Property Trust (NYSE:PINE) last released its earnings results on Thursday, October 22nd. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $20.19 million. Analysts predict that Alpine Income Property Trust will post 2.20 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in PINE. BlackRock Inc. acquired a new stake in Alpine Income Property Trust in the second quarter valued at $28,048,000. Heartland Advisors Inc. purchased a new stake in Alpine Income Property Trust during the 2nd quarter worth about $9,449,000. Bank of New York Mellon Corp purchased a new stake in Alpine Income Property Trust during the 2nd quarter worth about $1,813,000. Globeflex Capital L P acquired a new position in shares of Alpine Income Property Trust during the 2nd quarter worth about $1,535,000. Finally, Hsbc Holdings PLC acquired a new position in shares of Alpine Income Property Trust during the 2nd quarter worth about $1,267,000. Hedge funds and other institutional investors own 60.50% of the company’s stock.

About Alpine Income Property Trust

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.