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

Alpine Income Property Trust (NYSE:PINE) had its target price decreased by stock analysts at Cantor Fitzgerald from $22.00 to $20.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Cantor Fitzgerald‘s price objective would indicate a potential upside of 22.69% from the company’s previous close.

PINE has been the topic of several other reports. JonesTrading reduced their price objective on Alpine Income Property Trust from $23.00 to $20.00 and set a “buy” rating on the stock in a research note on Friday, October 23rd. Huntington began 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 for the company. Stifel Nicolaus dropped their target price on Alpine Income Property Trust from $21.25 to $20.00 and set a “buy” rating for the company in a report on Friday, October 23rd. Truist Financial cut their target price on Alpine Income Property Trust from $20.00 to $19.00 and set a “hold” rating on the stock in a research report on Thursday, October 15th. Finally, Weiss Ratings lowered Alpine Income Property Trust from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, September 21st. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $20.75.

Alpine Income Property Trust Price Performance

Shares of NYSE:PINE opened at $16.30 on Wednesday. Alpine Income Property Trust has a 52 week low of $14.10 and a 52 week high of $21.99. The firm has a fifty day simple moving average of $18.19 and a two-hundred day simple moving average of $19.06.

Alpine Income Property Trust (NYSE:PINE) last announced its earnings results on Thursday, October 22nd. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.01. The business had revenue of $20.46 million for the quarter, compared to analysts’ expectations of $20.19 million. On average, equities research analysts predict that Alpine Income Property Trust will post 2.20 EPS for the current year.

Hedge Funds Weigh In On Alpine Income Property Trust

Several hedge funds have recently added to or reduced their stakes in the company. Legal & General Group Plc bought a new position in Alpine Income Property Trust during the 2nd quarter valued at about $32,000. Virtus Advisers LLC bought a new stake in Alpine Income Property Trust in the second quarter worth about $80,000. PNC Financial Services Group Inc. lifted its stake in Alpine Income Property Trust by 13.5% in the first quarter. PNC Financial Services Group Inc. now owns 4,649 shares of the company’s stock worth $84,000 after purchasing an additional 552 shares during the last quarter. State of Wyoming purchased a new position in shares of Alpine Income Property Trust during the first quarter valued at approximately $128,000. Finally, Abel Hall LLC purchased a new position in shares of Alpine Income Property Trust during the first quarter valued at approximately $189,000. 60.50% of the stock is currently owned by institutional investors.

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.