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 reduced by Truist Financial from $19.00 to $17.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has a “hold” rating on the stock. Truist Financial‘s price objective points to a potential upside of 1.34% from the company’s previous close.

A number of other brokerages also recently issued reports on PINE. Huntington initiated coverage on Alpine Income Property Trust in a research report on Wednesday, July 15th. They set an “outperform” rating and a $23.00 price objective for the company. Cantor Fitzgerald decreased their target price on shares of 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. Alliance Global Partners reaffirmed a “buy” rating on shares of Alpine Income Property Trust in a research note on Friday, July 24th. Stifel Nicolaus lowered their target price on shares of Alpine Income Property Trust from $21.25 to $20.00 and set a “buy” rating for the company in a research note on Friday, October 23rd. Finally, JonesTrading dropped their price target on shares of Alpine Income Property Trust from $23.00 to $20.00 and set a “buy” rating for the company in a research report on Friday, October 23rd. Three investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $20.50.

Alpine Income Property Trust Trading Down 0.9%

Alpine Income Property Trust stock traded down $0.14 during mid-day trading on Tuesday, hitting $16.77. The company’s stock had a trading volume of 22,680 shares, compared to its average volume of 170,023. The stock’s fifty day moving average is $17.94 and its two-hundred day moving average is $19.05. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 1.08. The firm has a market capitalization of $300.94 million, a PE ratio of 36.47, a price-to-earnings-growth ratio of 1.05 and a beta of 0.56. Alpine Income Property Trust has a 1 year low of $14.51 and a 1 year high of $21.99.

Alpine Income Property Trust (NYSE:PINE) last posted its earnings results on Thursday, October 22nd. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. Alpine Income Property Trust had a return on equity of 3.68% and a net margin of 16.55%. The company had revenue of $20.46 million for the quarter, compared to the consensus estimate of $20.19 million. On average, analysts anticipate that Alpine Income Property Trust will post 2.20 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of PINE. Legal & General Group Plc acquired a new position in Alpine Income Property Trust during the 2nd quarter worth about $32,000. Virtus Advisers LLC purchased a new position in Alpine Income Property Trust during the 2nd quarter valued at about $80,000. PNC Financial Services Group Inc. boosted its holdings in Alpine Income Property Trust by 13.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,649 shares of the company’s stock valued at $84,000 after acquiring an additional 552 shares during the period. State of Wyoming acquired a new position in Alpine Income Property Trust in the 1st quarter valued at about $128,000. Finally, Abel Hall LLC acquired a new position in Alpine Income Property Trust in the 1st quarter valued at about $189,000. 60.50% of the stock is currently owned by hedge funds and other 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.