Alpine Income Property Trust, Inc. (NYSE:PINE) Given Average Rating of “Buy” by Brokerages

Alpine Income Property Trust, Inc. (NYSE:PINE) has earned an average recommendation of “Buy” from the five brokerages that are presently covering the stock, MarketBeat reports. Five equities research analysts have rated the stock with a buy recommendation. The average 12-month target price among analysts that have covered the stock in the last year is $18.69.

A number of brokerages have commented on PINE. Jonestrading reduced their price target on shares of Alpine Income Property Trust from $19.00 to $18.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. Alliance Global Partners began coverage on shares of Alpine Income Property Trust in a research report on Thursday, April 11th. They set a “buy” rating and a $19.00 price target on the stock. Stifel Nicolaus reduced their price target on shares of Alpine Income Property Trust from $19.00 to $18.75 and set a “buy” rating on the stock in a research report on Friday, April 19th. Finally, BTIG Research reduced their price target on shares of Alpine Income Property Trust from $23.00 to $19.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd.

Alpine Income Property Trust Trading Up 1.3 %

Shares of PINE opened at $15.93 on Friday. The firm’s 50 day simple moving average is $15.41 and its 200 day simple moving average is $15.57. The company has a market capitalization of $216.97 million, a P/E ratio of -398.25, a P/E/G ratio of 1.62 and a beta of 0.79. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.31 and a quick ratio of 1.31. Alpine Income Property Trust has a 1-year low of $14.25 and a 1-year high of $17.72.

Alpine Income Property Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Thursday, June 13th were issued a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 6.91%. The ex-dividend date of this dividend was Thursday, June 13th. Alpine Income Property Trust’s dividend payout ratio is -2,750.00%.

Insider Transactions at Alpine Income Property Trust

In related news, major shareholder Cto Realty Growth, Inc. purchased 7,959 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The shares were acquired at an average price of $14.97 per share, for a total transaction of $119,146.23. Following the completion of the acquisition, the insider now directly owns 190,094 shares in the company, valued at approximately $2,845,707.18. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders have bought 21,804 shares of company stock worth $326,747. Insiders own 0.74% of the company’s stock.

Institutional Trading of Alpine Income Property Trust

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Alpine Income Property Trust by 0.9% during the first quarter. Vanguard Group Inc. now owns 755,563 shares of the company’s stock valued at $11,545,000 after buying an additional 6,522 shares during the period. Sound Income Strategies LLC lifted its position in Alpine Income Property Trust by 12.3% during the second quarter. Sound Income Strategies LLC now owns 734,769 shares of the company’s stock valued at $11,433,000 after buying an additional 80,725 shares during the period. Heartland Advisors Inc. lifted its position in Alpine Income Property Trust by 53.0% during the first quarter. Heartland Advisors Inc. now owns 611,900 shares of the company’s stock valued at $9,350,000 after buying an additional 211,900 shares during the period. Russell Investments Group Ltd. lifted its position in Alpine Income Property Trust by 7.7% during the first quarter. Russell Investments Group Ltd. now owns 493,508 shares of the company’s stock valued at $7,541,000 after buying an additional 35,151 shares during the period. Finally, Kennedy Capital Management LLC lifted its position in Alpine Income Property Trust by 18.6% during the first quarter. Kennedy Capital Management LLC now owns 380,475 shares of the company’s stock valued at $5,814,000 after buying an additional 59,674 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.