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Alpine Income Property Trust, Inc. (PINE)

NYSE - NYSE Delayed Price. Currency in USD
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18.19+0.09 (+0.50%)
At close: 4:00PM EDT

18.19 -0.04 (-0.22%)
After hours: 4:00PM EDT

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Previous Close18.10
Open18.11
Bid18.26 x 1300
Ask18.25 x 1100
Day's Range17.83 - 18.36
52 Week Range9.95 - 20.18
Volume36,470
Avg. Volume65,604
Market Cap135.74M
Beta (5Y Monthly)N/A
PE Ratio (TTM)N/A
EPS (TTM)N/A
Earnings DateApr 22, 2021
Forward Dividend & Yield0.96 (5.30%)
Ex-Dividend DateMar 19, 2021
1y Target Est21.67
Fair Value is the appropriate price for the shares of a company, based on its earnings and growth rate also interpreted as when P/E Ratio = Growth Rate. Estimated return represents the projected annual return you might expect after purchasing shares in the company and holding them over the default time horizon of 5 years, based on the EPS growth rate that we have projected.
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-48% Est. Return
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  • Alpine Income Snaps Up Seven Properties From CTO Realty For $56 Million
    SmarterAnalyst

    Alpine Income Snaps Up Seven Properties From CTO Realty For $56 Million

    Real estate investment trust Alpine Income Property Trust has agreed to acquire seven retail properties from CTO Realty for a total consideration of $56 million. Alpine Income Property (PINE) President and Chief Executive officer, John P. Albright said, “Since Alpine’s IPO in 2019, we have highlighted the remaining single tenants net lease properties within CTO’s portfolio as a potential source of future acquisitions for Alpine.” Albright added, “We are excited to announce these first two agreements with CTO, which we believe represent great opportunities for Alpine to efficiently acquire a number of properties that provide an attractive yield and excellent tenant, sector and geographic diversity to our already high-quality net lease portfolio.” (See Alpine Income Property stock analysis on TipRanks) This acquisition involves an agreement for a six property portfolio and a separate agreement for a single property. The six property portfolio includes properties leased to national retailers like Lowe’s, Walgreens, Harris Teeter and Big Lots and more than 60% of its base rent will be coming from investment grade-rated entities. The single property under the 2nd agreement is located at Dallas-Fort Worth-Arlington and its acquisition is expected to close in 2Q. Last month, Raymond James analyst RJ Milligan reiterated a Buy rating on the stock but did not assign a price target. After meeting with Alpine’s management, Milligan commented, “PINE continues to execute on its external growth strategy and the acquisition pipeline remains robust. With collections at 100%, the company is focused on offense vs. Chasing down rents. PINE is expected to deliver the highest earnings growth in the net-lease in 2021, reinforcing our theses (and the consensus view) that being small in net-lease is a good thing.” The other analyst covering the stock, Robert W. Baird’s Wes Golladay also has a Buy rating on the stock. The two ratings cobine to a Moderate Buy consensus rating for the stock. Shares have gained about 70.8% over the past year. Alpine scores an 8 out of 10 from TipRanks’ Smart Score rating system, indicating that the stock is likely to outperform the broader market. Related News: Cidara Inks Licensing and Collaboration Deal With J&J’s Janssen For Influenza Antiviral CD388 Ares Management Launches 9.5M Offering Of Class A Shares Dynavax’s CpG 1018 Used In Valneva’s COVID-19 Vaccine Reports Positive Results More recent articles from Smarter Analyst: Mayville Engineering Adds New Customer; Street Sees 41.8% Upside Tenable Enters Into Strategic Partnership With HCL BigFix QIAGEN Launches New Ultra-Fast Sequencing Kit Wednesday’s Pre-Market: Here’s What You Need To Know Before The Market Opens

  • Alpine Income Property Trust Enters Into Agreements to Acquire Seven Properties From CTO Realty Growth for $56.0 Million
    GlobeNewswire

    Alpine Income Property Trust Enters Into Agreements to Acquire Seven Properties From CTO Realty Growth for $56.0 Million

    DAYTONA BEACH, Fla., April 06, 2021 (GLOBE NEWSWIRE) -- Alpine Income Property Trust, Inc. (NYSE: PINE) (the “Company”) announced today it has entered two separate agreements to acquire seven retail net lease properties for a combined purchase price of $56.0 million (the “Acquisitions”) from CTO Realty Growth, Inc. (NYSE: CTO). “Since Alpine’s IPO in 2019, we’ve highlighted the remaining single tenants net lease properties within CTO’s portfolio as a potential source of future acquisitions for Alpine,” said John P. Albright, President and Chief Executive Officer of Alpine Income Property Trust. “We are excited to announce these first two agreements with CTO, which we believe represent great opportunities for Alpine to efficiently acquire a number of properties that provide an attractive yield and excellent tenant, sector and geographic diversity to our already high-quality net lease portfolio.” The Acquisitions consist of a purchase and sale agreement to acquire a six-property portfolio (the “Six-Property Acquisition”) and a separate purchase and sale agreement to acquire one property (the “Single-Property Acquisition”). The Six-Property Acquisition consists of properties net leased to leading national retailers such as Lowe’s, Walgreens, Harris Teeter and Big Lots, with more than 60% of annualized base rent coming from properties leased to, or with leases guaranteed by, investment grade-rated entities. All six of the properties in the Six-Property Acquisition are within metropolitan statistical areas (“MSA”) that have populations over one million people, including locations in close proximity to Charlotte, NC; Seattle, WA; Washington, DC; Houston, TX; Phoenix, AZ; and Orlando, FL. As part of the Six-Property Acquisition, the Company will be assuming an existing $30.0 million secured mortgage, which bears a fixed interest rate of 4.33% (the “Loan”). The Loan matures in October 2034 but is prepayable without penalty beginning in October 2024. The Single-Property Acquisition is a property located in the Dallas-Fort Worth-Arlington, TX MSA, net leased to Burlington, and is expected to close in the second quarter of 2021. The Acquisitions are subject to customary closing requirements and conditions, including but not limited to the various approvals related to the Six-Property Acquisition Loan assumption. As a result, the Company can give no assurance that the Acquisitions will be completed within a specific time period, or at all. About CTO Realty Growth, Inc. CTO Realty Growth, Inc. is a publicly traded diversified REIT that owns and operates a diversified portfolio of income properties comprising approximately 2.8 million square feet in the United States. CTO also owns an approximate 23.5% interest in Alpine Income Property Trust, Inc., a publicly traded net lease REIT (NYSE: PINE). We encourage you to review our most recent investor presentation, which is available on our website at www.ctoreit.com. About Alpine Income Property Trust, Inc. 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 net leased commercial income properties. We encourage you to review our most recent investor presentation which is available on our website at www.alpinereit.com. Safe Harbor This press release may contain “forward-looking statements.” Forward-looking statements include statements that may be identified by words such as “could,” “may,” “might,” “will,” “likely,” “anticipates,” “intends,” “plans,” “seeks,” “believes,” “estimates,” “expects,” “continues,” “projects” and similar references to future periods, or by the inclusion of forecasts or projections. Forward-looking statements are based on the Company’s current expectations and assumptions regarding capital market conditions, the Company’s business, the economy and other future conditions. Because forward-looking statements relate to the future, by their nature, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. As a result, the Company’s actual results may differ materially from those contemplated by the forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include general business and economic conditions, continued volatility and uncertainty in the credit markets and broader financial markets, risks inherent in the real estate business, including tenant defaults, potential liability relating to environmental matters, illiquidity of real estate investments and potential damages from natural disasters, the impact of the COVID-19 Pandemic on the Company’s business and the business of its tenants and the impact on the U.S. economy and market conditions generally, other factors affecting the Company’s business or the business of its tenants that are beyond the control of the Company or its tenants, and the factors set forth under “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020. Any forward-looking statement made in this press release speaks only as of the date on which it is made. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise. Contact: Matthew M. PartridgeSenior Vice President, Chief Financial Officer & Treasurer(386) 944-5643mpartridge@alpinereit.com

  • CTO Realty Growth Announces First Quarter 2021 Earnings Release and Conference Call Information
    GlobeNewswire

    CTO Realty Growth Announces First Quarter 2021 Earnings Release and Conference Call Information

    DAYTONA BEACH, Fla., March 29, 2021 (GLOBE NEWSWIRE) -- CTO Realty Growth (NYSE: CTO) (the “Company”) announced today that it will report its financial and operating results for the first quarter 2021 after the market closes on Thursday, April 29, 2021. A conference call to discuss its financial and operating results is scheduled for Friday, April 30, 2021 at 9:00 AM ET (the “Earnings Call”). Shareholders and interested parties may access the Earnings Call via teleconference or webcast: Teleconference: USA (Toll Free)1-888-317-6003 International1-412-317-6061 Canada (Toll Free)1-866-284-3684 To access the conference call, enter 9801231 when prompted. Webcast:https://services.choruscall.com/links/cto210430.html To participate via teleconference, please dial-in approximately 10 minutes prior to the scheduled time of the Earnings Call. To access the webcast, log on to the web address noted above or go to www.ctoreit.com and log in at the investor relations section. A replay of the Earnings Call will be archived and available online through the Investor Relations section of www.ctoreit.com. About CTO Realty Growth, Inc. CTO Realty Growth, Inc. is a publicly traded diversified REIT that owns and operates a diversified portfolio of income properties comprising approximately 2.8 million square feet in the United States. CTO also owns an approximate 23.5% interest in Alpine Income Property Trust, Inc., a publicly traded net lease REIT (NYSE: PINE). We encourage you to review our most recent investor presentation, which is available on our website at www.ctoreit.com. Contact: Matthew M. Partridge Senior Vice President and Chief Financial Officer (386) 944-5643 mpartridge@ctoreit.com