B. Riley Reaffirms Buy Rating for Alpine Income Property Trust (NYSE:PINE)

B. Riley reaffirmed their buy rating on shares of Alpine Income Property Trust (NYSE:PINE) in a report published on Wednesday, Benzinga reports. The firm currently has a $20.00 price target on the stock, up from their previous price target of $19.50. B. Riley also issued estimates for Alpine Income Property Trust’s Q3 2024 earnings at $0.40 EPS, FY2024 earnings at $1.64 EPS, Q2 2025 earnings at $0.41 EPS, Q4 2025 earnings at $0.41 EPS, FY2025 earnings at $1.64 EPS and FY2026 earnings at $1.56 EPS.

A number of other equities research analysts have also recently commented on the stock. Jonestrading dropped their price objective on shares of Alpine Income Property Trust from $19.00 to $18.00 and set a buy rating on the stock in a research note on Friday, April 19th. Alliance Global Partners assumed coverage on shares of Alpine Income Property Trust in a research note on Thursday, April 11th. They set a buy rating and a $19.00 price objective on the stock. BTIG Research dropped their price objective on shares of Alpine Income Property Trust from $23.00 to $19.00 and set a buy rating on the stock in a research note on Monday, April 22nd. Finally, Stifel Nicolaus raised their price objective on shares of Alpine Income Property Trust from $18.00 to $19.25 and gave the stock a buy rating in a research note on Friday, July 19th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Alpine Income Property Trust has an average rating of Buy and a consensus target price of $19.05.

Alpine Income Property Trust Price Performance

Shares of NYSE:PINE opened at $17.26 on Wednesday. Alpine Income Property Trust has a twelve month low of $14.25 and a twelve month high of $17.72. The company’s 50 day moving average is $15.67 and its 200 day moving average is $15.56. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.00. The company has a market cap of $235.25 million, a PE ratio of -431.50, a price-to-earnings-growth ratio of 1.75 and a beta of 0.79.

Alpine Income Property Trust (NYSE:PINE) last issued its quarterly earnings results on Thursday, July 18th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.38). Alpine Income Property Trust had a negative return on equity of 0.20% and a negative net margin of 1.16%. The business had revenue of $12.49 million during the quarter, compared to analyst estimates of $12.10 million. During the same quarter last year, the company posted $0.37 EPS. On average, sell-side analysts forecast that Alpine Income Property Trust will post 1.63 EPS for the current year.

Alpine Income Property Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Thursday, June 13th were paid a $0.275 dividend. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $1.10 dividend on an annualized basis and a yield of 6.37%. Alpine Income Property Trust’s dividend payout ratio is currently -2,750.00%.

Insider Activity at Alpine Income Property Trust

In related news, major shareholder Cto Realty Growth, Inc. purchased 6,262 shares of the company’s stock in a transaction that occurred on Friday, July 5th. The shares were purchased at an average price of $15.00 per share, with a total value of $93,930.00. Following the purchase, the insider now owns 196,356 shares of the company’s stock, valued at $2,945,340. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last quarter, insiders have purchased 21,804 shares of company stock valued at $326,747. 0.74% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PINE. Tower Research Capital LLC TRC raised its holdings in shares of Alpine Income Property Trust by 312.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,910 shares of the company’s stock worth $49,000 after acquiring an additional 2,205 shares during the period. SG Americas Securities LLC purchased a new position in shares of Alpine Income Property Trust during the 4th quarter worth $117,000. Tidal Investments LLC raised its holdings in shares of Alpine Income Property Trust by 5.8% during the 1st quarter. Tidal Investments LLC now owns 19,466 shares of the company’s stock worth $297,000 after acquiring an additional 1,064 shares during the period. Guardian Wealth Management Inc. raised its holdings in shares of Alpine Income Property Trust by 3.0% during the 4th quarter. Guardian Wealth Management Inc. now owns 38,927 shares of the company’s stock worth $658,000 after acquiring an additional 1,138 shares during the period. Finally, Carlson Capital L P purchased a new position in shares of Alpine Income Property Trust during the 1st quarter worth $1,202,000. Hedge funds and other institutional investors own 60.50% of the company’s stock.

About Alpine Income Property Trust

Alpine Income Property Trust, Inc (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.