Analysts Expect Alpine Income Property Trust (NASDAQ:PINE) Will Announce Quarterly Sales of $4.66 Million

Equities research analysts expect Alpine Income Property Trust (NASDAQ:PINE) to report $4.66 million in sales for the current quarter, Zacks reports. Three analysts have issued estimates for Alpine Income Property Trust’s earnings, with the lowest sales estimate coming in at $3.94 million and the highest estimate coming in at $5.02 million. The company is scheduled to report its next quarterly earnings results on Wednesday, October 28th.

On average, analysts expect that Alpine Income Property Trust will report full-year sales of $18.13 million for the current fiscal year, with estimates ranging from $16.23 million to $19.13 million. For the next fiscal year, analysts expect that the company will post sales of $25.65 million, with estimates ranging from $22.28 million to $27.67 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Alpine Income Property Trust.

Alpine Income Property Trust (NASDAQ:PINE) last announced its earnings results on Wednesday, July 22nd. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.19). The company had revenue of $4.59 million for the quarter, compared to analyst estimates of $3.86 million.

Several analysts recently commented on PINE shares. B. Riley lifted their target price on shares of Alpine Income Property Trust from $15.00 to $19.00 in a report on Wednesday, June 10th. Zacks Investment Research raised shares of Alpine Income Property Trust from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a report on Wednesday, August 26th. BTIG Research initiated coverage on shares of Alpine Income Property Trust in a report on Thursday, June 4th. They set a “buy” rating and a $18.00 target price for the company. Finally, Janney Montgomery Scott initiated coverage on shares of Alpine Income Property Trust in a research note on Wednesday, June 17th. They issued a “buy” rating and a $19.00 price objective for the company. Seven equities research analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and a consensus target price of $18.00.

Shares of PINE stock traded up $0.67 during midday trading on Friday, hitting $16.75. 92,390 shares of the company were exchanged, compared to its average volume of 67,070. The firm’s 50 day moving average price is $14.64 and its two-hundred day moving average price is $13.76. Alpine Income Property Trust has a 52 week low of $7.74 and a 52 week high of $19.83.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 4.78%. The ex-dividend date is Monday, September 14th.

Institutional investors have recently modified their holdings of the business. Strs Ohio acquired a new stake in Alpine Income Property Trust in the 2nd quarter worth about $27,000. Nisa Investment Advisors LLC raised its position in shares of Alpine Income Property Trust by 35.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,689 shares of the company’s stock valued at $44,000 after buying an additional 706 shares in the last quarter. American International Group Inc. acquired a new position in shares of Alpine Income Property Trust in the 2nd quarter valued at approximately $67,000. Oppenheimer Asset Management Inc. acquired a new position in shares of Alpine Income Property Trust in the 1st quarter valued at approximately $95,000. Finally, New York State Common Retirement Fund acquired a new position in shares of Alpine Income Property Trust in the 2nd quarter valued at approximately $102,000.

About Alpine Income Property Trust

Alpine Income Property Trust, Inc is a newly organized real estate company that owns and operates a portfolio of high-quality single-tenant net lease commercial properties, all of which are leased on a long-term basis and located primarily in or in close proximity to major metropolitan statistical areas.

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