Alpine Income Property Trust (NYSE:PINE) Price Target Cut to $19.00 by Analysts at BTIG Research

Alpine Income Property Trust (NYSE:PINE) had its price objective cut by BTIG Research from $23.00 to $19.00 in a research note issued to investors on Monday, Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages have also commented on PINE. Jonestrading decreased their price target on shares of Alpine Income Property Trust from $19.00 to $18.00 and set a buy rating for the company in a research note on Friday. Stifel Nicolaus cut their price target on Alpine Income Property Trust from $19.00 to $18.75 and set a buy rating for the company in a research note on Friday. Finally, Alliance Global Partners started coverage on Alpine Income Property Trust in a research note on Thursday, April 11th. They issued a buy rating and a $19.00 price objective for the company. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of Buy and an average price target of $18.35.

Alpine Income Property Trust Stock Up 2.8 %

Shares of NYSE:PINE opened at $15.29 on Monday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.31 and a current ratio of 1.31. Alpine Income Property Trust has a 52-week low of $14.25 and a 52-week high of $17.72. The business’s 50 day simple moving average is $15.43 and its two-hundred day simple moving average is $15.92. The firm has a market cap of $208.25 million, a P/E ratio of -382.25, a PEG ratio of 1.59 and a beta of 0.80.

Alpine Income Property Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were given a $0.275 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.10 annualized dividend and a yield of 7.19%. Alpine Income Property Trust’s dividend payout ratio is currently -2,750.00%.

Institutional Investors Weigh In On Alpine Income Property Trust

Several large investors have recently made changes to their positions in PINE. Tower Research Capital LLC TRC grew its position in Alpine Income Property Trust by 312.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,910 shares of the company’s stock valued at $49,000 after buying an additional 2,205 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in Alpine Income Property Trust in the third quarter valued at approximately $70,000. Nisa Investment Advisors LLC grew its holdings in Alpine Income Property Trust by 52.0% during the third quarter. Nisa Investment Advisors LLC now owns 5,113 shares of the company’s stock valued at $84,000 after purchasing an additional 1,750 shares during the period. SG Americas Securities LLC purchased a new stake in Alpine Income Property Trust in the fourth quarter worth $117,000. Finally, Private Advisor Group LLC raised its stake in shares of Alpine Income Property Trust by 19.5% in the third quarter. Private Advisor Group LLC now owns 13,542 shares of the company’s stock valued at $222,000 after buying an additional 2,207 shares during the period. 60.50% of the stock is owned by hedge funds and other institutional investors.

Alpine Income Property Trust Company Profile

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.