Interactive Brokers shares jump as it secures spot in S&P 500
Andrew C. Richardson, a director at Alpine Income Property Trust, Inc. (NYSE:PINE), a $264 million market cap real estate investment trust currently trading near its InvestingPro Fair Value, recently sold shares of the company’s common stock, according to a regulatory filing. On February 24, Richardson sold 2,000 shares at a weighted-average price of $16.6392, and on February 25, he sold an additional 400 shares at a weighted-average price of $16.7075. The total value of these transactions amounted to $39,961. Following these sales, Richardson holds 16,743 shares in the company. The stock, which has raised its dividend for six consecutive years and currently offers a substantial 6.9% yield, maintains a "GOOD" financial health score according to InvestingPro, which offers comprehensive insider trading analysis among its 12+ key insights for PINE.
In other recent news, Alpine Income Property Trust has made significant financial moves that have drawn attention from analysts. The company disclosed its fourth-quarter 2024 investments, including the acquisition of a Lowe’s (NYSE:LOW) Home Improvement property in Knoxville, Tennessee, for $22.5 million. Alpine’s total investment activities for the fourth quarter amounted to approximately $50.5 million, with a capitalization rate of around 7.5%, while its full-year 2024 acquisition volume reached $134.7 million with an initial yield of 8.7%.
Lucid (NASDAQ:LCID) Capital Markets revised its outlook on Alpine, lowering the price target from $22.00 to $19.00, although maintaining a Buy rating. This adjustment was influenced by unexpected vacancies and anticipated increases in floating rate debt costs, leading to a decrease in the forecasted funds from operations for 2025. Lucid Capital also set a 2026 FFO estimate at $1.78 per share.
Meanwhile, Stifel analysts also adjusted their price target for Alpine, lowering it from $20.25 while continuing to uphold a Buy rating. Both analyst firms have expressed confidence in Alpine’s strategic acquisition activities and its focus on enhancing shareholder value. These recent developments highlight Alpine’s efforts to optimize its property portfolio and financial performance amidst changing market conditions.
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