Stifel Nicolaus Cuts Alpine Income Property Trust (NYSE:PINE) Price Target to $19.25

Alpine Income Property Trust (NYSE:PINE) had its price target trimmed by Stifel Nicolaus from $19.50 to $19.25 in a research note issued to investors on Thursday,Benzinga reports. They currently have a buy rating on the stock.

Alpine Income Property Trust Trading Down 1.2 %

Shares of PINE stock opened at $16.29 on Thursday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.09. The firm has a market cap of $239.26 million, a P/E ratio of 116.32, a price-to-earnings-growth ratio of 1.58 and a beta of 0.57. The business has a 50-day moving average price of $16.51 and a two-hundred day moving average price of $17.12. Alpine Income Property Trust has a 12-month low of $14.33 and a 12-month high of $19.42.

Alpine Income Property Trust (NYSE:PINE) last released its earnings results on Thursday, February 6th. The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.40. Alpine Income Property Trust had a return on equity of 0.76% and a net margin of 3.96%. Equities analysts anticipate that Alpine Income Property Trust will post 1.74 EPS for the current fiscal year.

Alpine Income Property Trust Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 13th were paid a $0.285 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This is an increase from Alpine Income Property Trust’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a yield of 7.00%. Alpine Income Property Trust’s payout ratio is currently 814.29%.

Insider Activity

In other news, Director Andrew C. Richardson sold 2,000 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $16.64, for a total transaction of $33,280.00. Following the completion of the sale, the director now owns 17,143 shares of the company’s stock, valued at approximately $285,259.52. This represents a 10.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.74% of the company’s stock.

Institutional Investors Weigh In On Alpine Income Property Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ameriflex Group Inc. purchased a new position in shares of Alpine Income Property Trust in the fourth quarter valued at about $43,000. BNP Paribas Financial Markets bought a new position in Alpine Income Property Trust during the 4th quarter valued at approximately $44,000. Public Employees Retirement System of Ohio bought a new position in Alpine Income Property Trust during the 3rd quarter valued at approximately $64,000. PNC Financial Services Group Inc. lifted its holdings in Alpine Income Property Trust by 25.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,282 shares of the company’s stock worth $72,000 after buying an additional 867 shares during the period. Finally, Resona Asset Management Co. Ltd. bought a new stake in shares of Alpine Income Property Trust in the 4th quarter worth approximately $75,000. 60.50% of the stock is currently owned by institutional investors.

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.