Colliers Securities analyst Barry Oxford has maintained their bullish stance on PINE stock, giving a Buy rating yesterday.
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Barry Oxford has given his Buy rating due to a combination of factors including Alpine Income Property Trust Inc.’s strategic focus on acquiring retail properties with yields exceeding their cost of capital, which positions them advantageously in the market. The company’s portfolio, concentrated in key regions such as New Jersey, New York, and Texas, features top tenants like Walgreens, Lowe’s, and Dick’s Sporting Goods, providing a stable tenant base. Alpine’s shares are attractively priced compared to other REITs in the triple net lease sector, offering one of the lowest multiples, which enhances their appeal to investors.
Furthermore, the company has demonstrated strong financial performance with a significant year-over-year increase in FFO numbers, surpassing both consensus and internal estimates. Alpine has also made strategic acquisitions and dispositions, optimizing their portfolio by selling lower-yielding assets and reinvesting in higher-yielding properties. The recent dividend increase further highlights the company’s commitment to returning value to shareholders, making it an attractive investment opportunity.
In another report released yesterday, B.Riley Financial also maintained a Buy rating on the stock with a $20.50 price target.
Based on the recent corporate insider activity of 24 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PINE in relation to earlier this year.