Alpine Income Property Trust, Inc. (NYSE:PINE – Get Rating) – B. Riley dropped their Q2 2023 earnings per share estimates for shares of Alpine Income Property Trust in a research report issued to clients and investors on Tuesday, May 2nd. B. Riley analyst C. Kucera now forecasts that the company will post earnings of $0.36 per share for the quarter, down from their prior estimate of $0.38. The consensus estimate for Alpine Income Property Trust’s current full-year earnings is $1.52 per share. B. Riley also issued estimates for Alpine Income Property Trust’s Q1 2024 earnings at $0.41 EPS, Q2 2024 earnings at $0.41 EPS, Q3 2024 earnings at $0.41 EPS and FY2024 earnings at $1.64 EPS.
Other equities analysts have also recently issued research reports about the company. Raymond James dropped their price target on Alpine Income Property Trust from $21.00 to $20.00 and set an “outperform” rating on the stock in a research note on Thursday, April 6th. EF Hutton Acquisition Co. I reissued a “buy” rating and issued a $23.00 target price on shares of Alpine Income Property Trust in a research report on Friday, April 21st. Stifel Nicolaus reduced their price target on shares of Alpine Income Property Trust from $21.25 to $20.00 and set a “buy” rating for the company in a research report on Friday, April 21st. Finally, Jonestrading lifted their price objective on shares of Alpine Income Property Trust from $22.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, February 22nd. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $21.60.
Alpine Income Property Trust Stock Up 0.8 %
Alpine Income Property Trust Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, March 31st. Stockholders of record on Thursday, March 9th were paid a dividend of $0.275 per share. The ex-dividend date was Wednesday, March 8th. This represents a $1.10 annualized dividend and a dividend yield of 6.84%. Alpine Income Property Trust’s dividend payout ratio (DPR) is 47.41%.
Insider Transactions at Alpine Income Property Trust
In other news, major shareholder Cto Realty Growth, Inc. acquired 23,385 shares of the firm’s stock in a transaction that occurred on Monday, March 13th. The stock was acquired at an average cost of $16.33 per share, with a total value of $381,877.05. Following the acquisition, the insider now owns 67,225 shares in the company, valued at $1,097,784.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, major shareholder Cto Realty Growth, Inc. acquired 23,385 shares of the firm’s stock in a transaction that occurred on Monday, March 13th. The stock was acquired at an average cost of $16.33 per share, with a total value of $381,877.05. Following the acquisition, the insider now owns 67,225 shares in the company, valued at $1,097,784.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark Okey Decker, Jr. acquired 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 26th. The shares were purchased at an average cost of $15.60 per share, with a total value of $31,200.00. Following the completion of the acquisition, the director now owns 20,028 shares in the company, valued at approximately $312,436.80. The disclosure for this purchase can be found here. Insiders have acquired a total of 86,522 shares of company stock worth $1,401,091 in the last 90 days. 0.50% of the stock is owned by insiders.
Institutional Trading of Alpine Income Property Trust
A number of hedge funds have recently bought and sold shares of PINE. PNC Financial Services Group Inc. acquired a new position in shares of Alpine Income Property Trust in the 4th quarter valued at $26,000. Lazard Asset Management LLC acquired a new position in shares of Alpine Income Property Trust in the 3rd quarter valued at $50,000. JPMorgan Chase & Co. raised its stake in shares of Alpine Income Property Trust by 17.5% in the 4th quarter. JPMorgan Chase & Co. now owns 4,275 shares of the company’s stock valued at $82,000 after buying an additional 636 shares in the last quarter. State of Alaska Department of Revenue raised its stake in shares of Alpine Income Property Trust by 23.3% in the 1st quarter. State of Alaska Department of Revenue now owns 6,783 shares of the company’s stock valued at $114,000 after buying an additional 1,282 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its stake in shares of Alpine Income Property Trust by 12.1% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 10,200 shares of the company’s stock valued at $165,000 after buying an additional 1,100 shares in the last quarter. 73.69% of the stock is owned by institutional investors.
About Alpine Income Property Trust
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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