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

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

Alpine Income Property Trust Stock Performance

Alpine Income Property Trust stock opened at $16.29 on Thursday. Alpine Income Property Trust has a fifty-two week low of $14.33 and a fifty-two week high of $19.42. The stock’s 50 day simple moving average is $16.51 and its two-hundred day simple moving average is $17.12. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a market cap of $239.26 million, a price-to-earnings ratio of 116.32, a PEG ratio of 1.58 and a beta of 0.57.

Alpine Income Property Trust (NYSE:PINE) last released its earnings results on Thursday, February 6th. The company reported $0.44 EPS for the quarter, beating 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%. As a group, analysts expect that Alpine Income Property Trust will post 1.74 earnings per share for the current fiscal year.

Alpine Income Property Trust Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 13th were given a $0.285 dividend. The ex-dividend date 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 dividend on an annualized basis and a dividend yield of 7.00%. Alpine Income Property Trust’s dividend payout ratio is currently 814.29%.

Insider Activity at Alpine Income Property Trust

In related news, Director Andrew C. Richardson sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $16.64, for a total value of $33,280.00. Following the sale, the director now owns 17,143 shares in the company, valued at $285,259.52. This represents a 10.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.74% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Sound Income Strategies LLC increased its holdings in shares of Alpine Income Property Trust by 9.0% during the fourth quarter. Sound Income Strategies LLC now owns 866,916 shares of the company’s stock valued at $14,556,000 after acquiring an additional 71,488 shares in the last quarter. Pacific Ridge Capital Partners LLC grew its position in Alpine Income Property Trust by 6.6% during the 4th quarter. Pacific Ridge Capital Partners LLC now owns 297,221 shares of the company’s stock valued at $4,990,000 after purchasing an additional 18,293 shares during the last quarter. State Street Corp increased its stake in Alpine Income Property Trust by 18.7% during the 3rd quarter. State Street Corp now owns 272,081 shares of the company’s stock valued at $4,952,000 after purchasing an additional 42,889 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Alpine Income Property Trust by 15.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 198,906 shares of the company’s stock worth $3,340,000 after buying an additional 26,305 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its stake in shares of Alpine Income Property Trust by 127.9% in the fourth quarter. Nuveen Asset Management LLC now owns 174,465 shares of the company’s stock worth $2,929,000 after buying an additional 97,910 shares in the last quarter. Hedge funds and other institutional investors 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.