Alpine Income Property Trust (NYSE:PINE) Price Target Cut to $20.00 by Analysts at Cantor Fitzgerald

Alpine Income Property Trust (NYSE:PINE) had its price target cut by Cantor Fitzgerald from $22.00 to $20.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Cantor Fitzgerald‘s target price suggests a potential upside of 22.69% from the stock’s current price.

PINE has been the subject of a number of other research reports. Alliance Global Partners reaffirmed a “buy” rating on shares of Alpine Income Property Trust in a research note on Friday, July 24th. Zacks Research upgraded Alpine Income Property Trust from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 19th. Weiss Ratings cut Alpine Income Property Trust from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, September 21st. Huntington began coverage on Alpine Income Property Trust in a research note on Wednesday, July 15th. They issued an “outperform” rating and a $23.00 price target for the company. Finally, JonesTrading cut their price objective on shares of Alpine Income Property Trust from $23.00 to $20.00 and set a “buy” rating for the company in a report on Friday, October 23rd. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Alpine Income Property Trust currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.75.

Alpine Income Property Trust Stock Performance

Shares of PINE stock opened at $16.30 on Wednesday. Alpine Income Property Trust has a one year low of $14.10 and a one year high of $21.99. The company’s fifty day moving average price is $18.19 and its 200-day moving average price is $19.06.

Alpine Income Property Trust (NYSE:PINE) last issued its earnings results on Thursday, October 22nd. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.01. The firm had revenue of $20.46 million during the quarter, compared to the consensus estimate of $20.19 million. Equities research analysts predict that Alpine Income Property Trust will post 2.20 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Legal & General Group Plc bought a new stake in shares of Alpine Income Property Trust in the second quarter worth about $32,000. Virtus Advisers LLC bought a new position in Alpine Income Property Trust during the second quarter valued at approximately $80,000. PNC Financial Services Group Inc. boosted its stake in Alpine Income Property Trust by 13.5% during the first quarter. PNC Financial Services Group Inc. now owns 4,649 shares of the company’s stock valued at $84,000 after buying an additional 552 shares during the last quarter. State of Wyoming bought a new position in Alpine Income Property Trust during the first quarter valued at approximately $128,000. Finally, Abel Hall LLC purchased a new position in Alpine Income Property Trust during the 1st quarter valued at approximately $189,000. Institutional investors own 60.50% of the company’s stock.

Alpine Income Property Trust Company Profile

Alpine Income Property Trust, Inc is a real estate investment trust (REIT) that owns and manages a portfolio of income-producing commercial properties in the United States. The company primarily invests in single-tenant net lease properties, under which tenants generally assume responsibility for property expenses such as taxes, insurance and maintenance.

Its portfolio has included retail, office and industrial properties leased to tenants across a range of industries. Alpine seeks to generate rental income through long-term leases and may pursue acquisitions, dispositions and other real estate investments intended to support the growth and diversification of its property portfolio.

Alpine Income Property Trust was formed by CTO Realty Growth, Inc and became a publicly traded company in 2019 following its separation from CTO Realty Growth.