Zacks Investment Research Upgrades Alpine Income Property Trust (NYSE:PINE) to “Buy”

Alpine Income Property Trust (NYSE:PINEGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday, Zacks.com reports. The firm presently has a $21.00 price target on the stock. Zacks Investment Research‘s price target would indicate a potential upside of 11.70% from the stock’s previous close.

According to Zacks, “Alpine Income Property Trust Inc. is a real estate investment trust. It owns and operates a portfolio of single-tenant net lease commercial properties. Alpine Income Property Trust Inc. is based in Daytona Beach, United States. “

Several other equities analysts have also recently issued reports on PINE. Truist Financial started coverage on Alpine Income Property Trust in a research report on Thursday, January 27th. They issued a “hold” rating and a $20.00 price objective on the stock. Jonestrading started coverage on Alpine Income Property Trust in a report on Wednesday, February 2nd. They set a “buy” rating and a $23.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $20.75.

PINE stock opened at $18.80 on Wednesday. The stock has a market capitalization of $220.58 million, a PE ratio of 23.80, a price-to-earnings-growth ratio of 1.96 and a beta of 0.90. Alpine Income Property Trust has a 12-month low of $17.30 and a 12-month high of $21.07. The company has a current ratio of 4.02, a quick ratio of 4.02 and a debt-to-equity ratio of 1.17. The stock’s 50 day simple moving average is $18.86 and its 200 day simple moving average is $18.94.

Alpine Income Property Trust (NYSE:PINEGet Rating) last released its quarterly earnings data on Wednesday, February 9th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.32). Alpine Income Property Trust had a net margin of 33.07% and a return on equity of 4.86%. During the same period in the prior year, the firm earned $0.36 earnings per share. On average, research analysts predict that Alpine Income Property Trust will post 1.59 earnings per share for the current year.

In related news, SVP Daniel Earl Smith bought 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 24th. The shares were bought at an average cost of $18.60 per share, with a total value of $37,200.00. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Cto Realty Growth, Inc. bought 9,551 shares of the firm’s stock in a transaction that occurred on Wednesday, April 13th. The stock was bought at an average cost of $18.26 per share, for a total transaction of $174,401.26. Following the completion of the acquisition, the insider now owns 855,939 shares in the company, valued at approximately $15,629,446.14. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 20,242 shares of company stock worth $371,264. 0.29% of the stock is owned by insiders.

A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. increased its stake in Alpine Income Property Trust by 13.0% in the 4th quarter. BlackRock Inc. now owns 152,080 shares of the company’s stock worth $3,048,000 after buying an additional 17,512 shares in the last quarter. Wells Fargo & Company MN increased its stake in Alpine Income Property Trust by 14.7% in the 4th quarter. Wells Fargo & Company MN now owns 28,309 shares of the company’s stock worth $567,000 after buying an additional 3,620 shares in the last quarter. Guardian Wealth Management Inc. purchased a new stake in Alpine Income Property Trust in the 4th quarter worth $170,000. Penserra Capital Management LLC increased its stake in Alpine Income Property Trust by 167.6% in the 4th quarter. Penserra Capital Management LLC now owns 12,579 shares of the company’s stock worth $252,000 after buying an additional 7,879 shares in the last quarter. Finally, Susquehanna International Group LLP purchased a new stake in Alpine Income Property Trust in the 4th quarter worth $361,000. Institutional investors and hedge funds own 55.19% of the company’s stock.

Alpine Income Property Trust Company Profile (Get Rating)

Alpine Income Property Trust, Inc (NYSE: PINE) is a publicly traded real estate investment trust that acquires, owns and operates a portfolio of high-quality single-tenant net leased commercial income properties.

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Analyst Recommendations for Alpine Income Property Trust (NYSE:PINE)

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