Alpine Income Property Trust Inc. [NYSE: PINE] loss -8.42% or -1.66 points to close at $18.05 with a heavy trading volume of 1349792 shares. The company report on June 3, 2021 that Alpine Income Property Trust, Inc. Announces Pricing of Upsized Public Offering of Common Stock.
Alpine Income Property Trust, Inc. (NYSE: PINE) announced the pricing of an underwritten public offering of 2,800,000 shares of its common stock. The underwriters have been granted a 30-day option to purchase up to an additional 420,000 shares of the Company’s common stock. The offering is expected to close on June 7, 2021 and is subject to customary closing conditions. Total estimated gross proceeds of the offering are approximately $49.8 million or approximately $57.3 million if the underwriters exercise their option to purchase additional shares in full.
The Company intends to contribute the net proceeds from this offering to Alpine Income Property OP, LP, its operating partnership (the “Operating Partnership”), in exchange for common units of limited partnership interest of the Operating Partnership. The Operating Partnership may use the net proceeds contributed by the Company to repay amounts outstanding under the Company’s credit facility and for general corporate and working capital purposes, which may include funding property acquisitions.
It opened the trading session at $17.80, the shares rose to $18.24 and dropped to $17.76, the range by which the price of stock traded the whole day. The daily chart for PINE points out that the company has recorded 12.39% gains over the past six months. However, it is still -37.26% lower than its most recent low trading price.
If we look at the average trading volume of 66.33K shares, PINE reached to a volume of 1349792 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Alpine Income Property Trust Inc. [PINE]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PINE shares is $21.60 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PINE stock is a recommendation set at 1.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Robert W. Baird have made an estimate for Alpine Income Property Trust Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on December 17, 2020. While these analysts kept the previous recommendation, Raymond James raised their target price to Outperform. The new note on the price target was released on October 02, 2020, representing the official price target for Alpine Income Property Trust Inc. stock. Previously, the target price had yet another raise to $19, while Janney analysts kept a Buy rating on PINE stock.
The Average True Range (ATR) for Alpine Income Property Trust Inc. is set at 0.55, with the Price to Sales ratio for PINE stock in the period of the last 12 months amounting to 6.75. The Price to Book ratio for the last quarter was 1.02, with the Price to Cash per share for the same quarter was set at 0.19.
Trading performance analysis for PINE stock
Alpine Income Property Trust Inc. [PINE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.92. With this latest performance, PINE shares gained by 0.06% in over the last four-week period, additionally plugging by 12.39% over the last 6 months – not to mention a rise of 20.74% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PINE stock in for the last two-week period is set at 49.26, with the RSI for the last a single of trading hit 47.56, and the three-weeks RSI is set at 50.19 for Alpine Income Property Trust Inc. [PINE]. The present Moving Average for the last 50 days of trading for this stock 17.94, while it was recorded at 18.66 for the last single week of trading, and 16.31 for the last 200 days.
Alpine Income Property Trust Inc. [PINE]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Alpine Income Property Trust Inc. [PINE] shares currently have an operating margin of +12.14 and a Gross Margin at +36.48. Alpine Income Property Trust Inc.’s Net Margin is presently recorded at +5.15.
Return on Total Capital for PINE is now 1.11, given the latest momentum, and Return on Invested Capital for the company is 0.53. Return on Equity for this stock inclined to 0.75, with Return on Assets sitting at 0.46. When it comes to the capital structure of this company, Alpine Income Property Trust Inc. [PINE] has a Total Debt to Total Equity ratio set at 83.75. Additionally, PINE Total Debt to Total Capital is recorded at 45.58, with Total Debt to Total Assets ending up at 40.58. Long-Term Debt to Equity for the company is recorded at 83.75, with the Long-Term Debt to Total Capital now at 45.58.
Receivables Turnover for the company is 15.98 with a Total Asset Turnover recorded at a value of 0.09.
Alpine Income Property Trust Inc. [PINE]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Alpine Income Property Trust Inc. posted 0.03/share EPS, while the average EPS was predicted by analysts to be reported at 0/share. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PINE.
An analysis of insider ownership at Alpine Income Property Trust Inc. [PINE]
There are presently around $88 million, or 73.70% of PINE stock, in the hands of institutional investors. The top three institutional holders of PINE stocks are: DEPRINCE RACE & ZOLLO INC with ownership of 632,402, which is approximately -6.589% of the company’s market cap and around 0.40% of the total institutional ownership; BLACKROCK INC., holding 453,297 shares of the stock with an approximate value of $8.18 million in PINE stocks shares; and PACIFIC RIDGE CAPITAL PARTNERS, LLC, currently with $7.12 million in PINE stock with ownership of nearly 24.872% of the company’s market capitalization.
Positions in Alpine Income Property Trust Inc. stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 34 institutional holders increased their position in Alpine Income Property Trust Inc. [NYSE:PINE] by around 954,228 shares. Additionally, 28 investors decreased positions by around 375,082 shares, while 7 investors held positions by with 3,532,017 shares. The mentioned changes placed institutional holdings at 4,861,327 shares, according to the latest SEC report filing. PINE stock had 13 new institutional investments in for a total of 299,985 shares, while 7 institutional investors sold positions of 62,529 shares during the same period.