Alpine Income Property Trust (NYSE:PINE) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Alpine Income Property Trust (NYSE:PINE) from a strong sell rating to a hold rating in a research note released on Thursday, Zacks.com reports.

According to Zacks, “Alpine Income Property Trust Inc. is a real estate investment trust. It owns and operates a portfolio of single-tenant net lease commercial properties. Alpine Income Property Trust Inc. is based in Daytona Beach, United States. “

Several other brokerages also recently commented on PINE. TheStreet downgraded Alpine Income Property Trust from a c rating to a d+ rating in a research report on Friday, August 13th. BTIG Research set a $19.25 price objective on Alpine Income Property Trust in a research report on Saturday, July 10th. Stifel Nicolaus started coverage on Alpine Income Property Trust in a research report on Wednesday, September 15th. They set a buy rating and a $21.00 price target on the stock. Finally, B. Riley reissued a buy rating and set a $20.24 price target (down previously from $22.00) on shares of Alpine Income Property Trust in a research report on Monday, July 26th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Buy and a consensus price target of $20.50.

Shares of Alpine Income Property Trust stock opened at $18.25 on Thursday. The stock’s fifty day moving average is $19.02 and its two-hundred day moving average is $18.54. The company has a market capitalization of $206.23 million, a PE ratio of 114.07 and a beta of 0.98. The company has a quick ratio of 3.50, a current ratio of 3.50 and a debt-to-equity ratio of 0.64. Alpine Income Property Trust has a 52 week low of $13.51 and a 52 week high of $20.75.

Alpine Income Property Trust (NYSE:PINE) last announced its quarterly earnings data on Wednesday, July 21st. The company reported $0.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by ($0.04). Alpine Income Property Trust had a net margin of 6.42% and a return on equity of 0.85%. As a group, research analysts anticipate that Alpine Income Property Trust will post 1.44 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 30th. Investors of record on Thursday, September 9th will be given a dividend of $0.255 per share. The ex-dividend date of this dividend is Wednesday, September 8th. This represents a $1.02 dividend on an annualized basis and a yield of 5.59%. This is an increase from Alpine Income Property Trust’s previous quarterly dividend of $0.25. Alpine Income Property Trust’s dividend payout ratio (DPR) is presently 82.93%.

A number of hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its position in Alpine Income Property Trust by 3.1% during the first quarter. JPMorgan Chase & Co. now owns 20,950 shares of the company’s stock valued at $364,000 after purchasing an additional 630 shares in the last quarter. Royal Bank of Canada boosted its position in Alpine Income Property Trust by 17.0% during the second quarter. Royal Bank of Canada now owns 9,116 shares of the company’s stock valued at $173,000 after purchasing an additional 1,327 shares in the last quarter. Franklin Resources Inc. boosted its position in Alpine Income Property Trust by 1.1% during the second quarter. Franklin Resources Inc. now owns 146,121 shares of the company’s stock valued at $2,779,000 after purchasing an additional 1,621 shares in the last quarter. Truvestments Capital LLC bought a new stake in Alpine Income Property Trust during the second quarter valued at about $32,000. Finally, Steward Partners Investment Advisory LLC bought a new stake in Alpine Income Property Trust during the second quarter valued at about $32,000. 53.40% of the stock is currently owned by institutional investors.

Alpine Income Property Trust Company Profile

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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