Alpine Income Property Trust (NYSE:PINE) Releases Earnings Results, Beats Estimates By $0.01 EPS

Alpine Income Property Trust (NYSE:PINE) announced its earnings results on Thursday. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01, FiscalAI reports. Alpine Income Property Trust had a net margin of 9.36% and a return on equity of 2.11%. The company had revenue of $20.46 million for the quarter, compared to analyst estimates of $20.19 million.

Alpine Income Property Trust Stock Up 1.8%

Shares of NYSE:PINE opened at $17.43 on Friday. Alpine Income Property Trust has a one year low of $13.63 and a one year high of $21.99. The company has a 50 day moving average of $18.39 and a 200-day moving average of $19.29. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.85 and a quick ratio of 1.85. The stock has a market cap of $312.61 million, a price-to-earnings ratio of 91.77, a P/E/G ratio of 1.13 and a beta of 0.56.

Insider Buying and Selling at Alpine Income Property Trust

In related news, Director Andrew Richardson sold 2,000 shares of the stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $20.28, for a total value of $40,560.00. Following the transaction, the director directly owned 8,425 shares in the company, valued at $170,859. This represents a 19.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Stifel Nicolaus set a $21.25 price objective on shares of Alpine Income Property Trust in a research report on Tuesday, October 13th. Alliance Global Partners reiterated a “buy” rating on shares of Alpine Income Property Trust in a research report on Friday, July 24th. Truist Financial decreased their price objective on Alpine Income Property Trust from $20.00 to $19.00 and set a “hold” rating on the stock in a research report on Thursday, October 15th. 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 target price for the company. Finally, JonesTrading lifted their target price on Alpine Income Property Trust from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Three research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $21.28.

About Alpine Income Property Trust

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.