Alpine Income Property Trust

PINE · NYSE

$17.70+$0.01 (+0.06%)TodayMarket closed · Oct 20, 7:34 PM ET

Prev close $17.69

PINE analyst rating

BuyConsensus of 4 analysts over the last 12 months. 75% rate it a buy.

Strong buy0
Buy3
Hold1
Underperform0
Sell0

12-month price target · 14 analysts

Average $22.01 (+24.4% upside)

Low: $18.18
Now: $17.70
High: $24.15

Upgrades and downgrades

The latest rating actions, newest first

PINE analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Truist Securities	Oct 15, 2026	Maintains	Hold	$20.00 → $19.00	55%
Raymond James	Jul 28, 2026	Downgrade	Strong Buy → Outperform	$22.00	39%
Jones Trading	Jul 24, 2026	Maintains	Buy	$22.00 → $23.00	44%
Stifel	Jul 24, 2026	Maintains	Buy	$21.50 → $22.00	54%
Baird	Jun 30, 2026	Downgrade	Outperform → Neutral	$18.00 → $21.00	39%
Truist Securities	May 21, 2026	Maintains	Hold	$21.00 → $20.00	55%
Jones Trading	Apr 24, 2026	Maintains	Buy	$22.00	44%
Raymond James	Mar 17, 2026	Upgrade	Outperform → Strong Buy	$22.00	39%
Truist Securities	Feb 18, 2026	Maintains	Hold	$18.00 → $21.00	55%
Jones Trading	Feb 6, 2026	Maintains	Buy	$19.00 → $22.00	44%

The case for and against

Updated Oct 14, 2026

Bull case

Alpine Income Property Tr is benefiting from stronger-than-expected AFFO performance, with 2Q AFFO per share of $0.58, up 31.8% year over year and above both estimates, while 2Q FFO/AFFO of $0.57/$0.58 also beat consensus. Management raised FY26 FFO/AFFO guidance to $2.10-2.13/$2.12-2.15 after an impressive first half, and the company keeps sourcing attractive assets, including $76.6 million extended in 2Q at a 7.4% weighted-average cash cap rate and a $40.0 million construction loan at 10.0%. Its 99.5% occupancy, rising investment-grade tenant mix to 55%, and current discount to peers support the view that continued portfolio quality and investment-led growth can drive multiple expansion.

Bear case

Alpine Income Property Tr is viewed negatively because its leverage remains elevated, with net debt to pro forma Adjusted EBITDA at 6.4x and net debt to TEV at 44.8%, leaving the balance sheet vulnerable if commercial real estate fundamentals soften further. Debt costs are also rising despite a lower spread grid, as the 2029 term loan reset pushed its all-in rate to 466bp and $69.5mm remains floating at 503bp, which can pressure AFFO and common shareholder returns. The outlook is further clouded by exposure to a prolonged economic downturn, interest rate movements, and continued weakness in the mortgage-backed securities market and commercial real estate fundamentals, all of which could impair the 2027 AFFO estimate of $2.21.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.