Alpine Income Property Trust (NYSE:PINE) Price Target Lowered to $18.75 at Stifel Nicolaus

Alpine Income Property Trust (NYSE:PINE) had its target price reduced by Stifel Nicolaus from $19.00 to $18.75 in a research report released on Friday morning, Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

Several other research analysts have also weighed in on PINE. Alliance Global Partners assumed coverage on Alpine Income Property Trust in a research report on Thursday, April 11th. They issued a buy rating and a $19.00 price objective for the company. Jonestrading decreased their target price on Alpine Income Property Trust from $20.00 to $19.00 and set a buy rating for the company in a research report on Monday, February 12th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Alpine Income Property Trust currently has an average rating of Buy and a consensus target price of $19.15.

Alpine Income Property Trust Stock Up 2.1 %

PINE stock opened at $14.85 on Friday. The stock has a 50-day moving average price of $15.45 and a 200-day moving average price of $15.93. Alpine Income Property Trust has a 1-year low of $14.25 and a 1-year high of $17.72. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.64 and a quick ratio of 2.64.

Alpine Income Property Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 7.41%. The ex-dividend date of this dividend was Wednesday, March 13th. Alpine Income Property Trust’s payout ratio is -2,750.00%.

Hedge Funds Weigh In On Alpine Income Property Trust

A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in Alpine Income Property Trust by 359.8% during the 2nd quarter. BlackRock Inc. now owns 830,771 shares of the company’s stock valued at $13,500,000 after purchasing an additional 650,088 shares during the last quarter. Vanguard Group Inc. boosted its stake in Alpine Income Property Trust by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 749,041 shares of the company’s stock valued at $12,666,000 after purchasing an additional 17,659 shares during the last quarter. Sound Income Strategies LLC boosted its stake in Alpine Income Property Trust by 13.9% during the 1st quarter. Sound Income Strategies LLC now owns 654,044 shares of the company’s stock valued at $9,994,000 after purchasing an additional 79,969 shares during the last quarter. Ancora Advisors LLC boosted its stake in Alpine Income Property Trust by 34.9% during the 1st quarter. Ancora Advisors LLC now owns 433,370 shares of the company’s stock valued at $7,294,000 after purchasing an additional 112,000 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Alpine Income Property Trust by 143.2% during the 2nd quarter. Geode Capital Management LLC now owns 287,583 shares of the company’s stock valued at $4,673,000 after purchasing an additional 169,341 shares during the last quarter. Institutional investors and hedge funds own 60.50% of the company’s stock.

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.