Alpine Income Property Trust (NYSE:PINE) Stock Rating Lowered by Zacks Investment Research

Alpine Income Property Trust (NYSE:PINEGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday, Zacks.com reports.

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 research analysts have also commented on PINE. Jonestrading assumed coverage on Alpine Income Property Trust in a research report on Wednesday, February 2nd. They issued a “buy” rating and a $23.00 price objective on the stock. Truist Financial assumed 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. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Alpine Income Property Trust has a consensus rating of “Buy” and a consensus target price of $20.75.

Shares of Alpine Income Property Trust stock opened at $19.22 on Wednesday. Alpine Income Property Trust has a twelve month low of $17.30 and a twelve month high of $21.07. The stock has a market capitalization of $227.43 million, a P/E ratio of 24.03, a PEG ratio of 2.02 and a beta of 0.90. 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 business’s fifty day moving average price is $18.88 and its 200 day moving average price is $18.97.

Alpine Income Property Trust (NYSE:PINEGet Rating) last issued its earnings results on Thursday, April 21st. The company reported $0.06 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.37). Alpine Income Property Trust had a net margin of 29.48% and a return on equity of 4.67%. During the same period last year, the firm posted $0.42 earnings per share. As a group, sell-side analysts predict that Alpine Income Property Trust will post 1.61 EPS for the current year.

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

Institutional investors have recently made changes to their positions in the stock. Diligent Investors LLC acquired a new position in Alpine Income Property Trust in the fourth quarter valued at approximately $208,000. Geode Capital Management LLC boosted its stake in Alpine Income Property Trust by 16.3% in the third quarter. Geode Capital Management LLC now owns 91,296 shares of the company’s stock valued at $1,677,000 after acquiring an additional 12,828 shares during the period. Strs Ohio acquired a new position in Alpine Income Property Trust in the fourth quarter valued at approximately $224,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. acquired a new position in Alpine Income Property Trust in the third quarter valued at approximately $77,000. Finally, Daiwa Securities Group Inc. acquired a new position in Alpine Income Property Trust in the third quarter valued at approximately $48,000. 55.19% of the stock is owned by hedge funds and other institutional investors.

About Alpine Income Property Trust (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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