Raymond James Increases Alpine Income Property Trust (NYSE:PINE) Price Target to $21.00

Alpine Income Property Trust (NYSE:PINEGet Rating) had its price target boosted by Raymond James from $20.00 to $21.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other research analysts have also recently issued reports on PINE. Jonestrading decreased their price target on shares of Alpine Income Property Trust from $23.00 to $22.00 and set a buy rating for the company in a report on Tuesday, October 25th. B. Riley decreased their price target on shares of Alpine Income Property Trust from $23.00 to $21.00 and set a buy rating for the company in a report on Tuesday, October 25th. TheStreet raised shares of Alpine Income Property Trust from a c- rating to a b- rating in a report on Monday, November 21st. Finally, EF Hutton Acquisition Co. I began coverage on shares of Alpine Income Property Trust in a report on Wednesday, December 21st. They issued a buy rating and a $22.00 price target for the company. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $21.20.

Alpine Income Property Trust Trading Up 0.2 %

NYSE PINE opened at $19.08 on Monday. The company has a fifty day simple moving average of $18.78 and a two-hundred day simple moving average of $18.09. The stock has a market cap of $227.34 million, a P/E ratio of 7.72, a P/E/G ratio of 1.94 and a beta of 0.79. Alpine Income Property Trust has a 12-month low of $15.41 and a 12-month high of $20.21. The company has a current ratio of 3.39, a quick ratio of 3.39 and a debt-to-equity ratio of 1.07.

Alpine Income Property Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 30th. Stockholders of record on Monday, December 12th were paid a $0.275 dividend. The ex-dividend date of this dividend was Friday, December 9th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 5.77%. Alpine Income Property Trust’s payout ratio is currently 44.53%.

Insider Transactions at Alpine Income Property Trust

In other Alpine Income Property Trust news, major shareholder Cto Realty Growth, Inc. acquired 2,000 shares of the business’s stock in a transaction dated Monday, October 17th. The shares were purchased at an average price of $16.62 per share, for a total transaction of $33,240.00. Following the completion of the purchase, the insider now directly owns 34,260 shares of the company’s stock, valued at $569,401.20. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have acquired 11,560 shares of company stock worth $193,229 over the last 90 days. 0.50% of the stock is currently owned by company insiders.

Institutional Trading of Alpine Income Property Trust

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. grew its position in Alpine Income Property Trust by 5.3% during the third quarter. Russell Investments Group Ltd. now owns 591,195 shares of the company’s stock valued at $9,587,000 after buying an additional 29,815 shares during the period. Vanguard Group Inc. grew its position in Alpine Income Property Trust by 27.0% during the first quarter. Vanguard Group Inc. now owns 555,748 shares of the company’s stock valued at $10,448,000 after buying an additional 118,120 shares during the period. Keeley Teton Advisors LLC grew its position in Alpine Income Property Trust by 0.4% during the first quarter. Keeley Teton Advisors LLC now owns 323,821 shares of the company’s stock valued at $6,088,000 after buying an additional 1,370 shares during the period. Heartland Advisors Inc. grew its position in Alpine Income Property Trust by 50.0% during the third quarter. Heartland Advisors Inc. now owns 300,000 shares of the company’s stock valued at $4,866,000 after buying an additional 100,000 shares during the period. Finally, Uniplan Investment Counsel Inc. grew its position in Alpine Income Property Trust by 0.4% during the third quarter. Uniplan Investment Counsel Inc. now owns 271,908 shares of the company’s stock valued at $4,410,000 after buying an additional 1,051 shares during the period. Institutional investors and hedge funds own 73.69% of the company’s stock.

About Alpine Income Property Trust

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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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