Alpine Income Property Trust, Inc. (NYSE:PINE) to Post Q1 2024 Earnings of $0.38 Per Share, B. Riley Forecasts

Alpine Income Property Trust, Inc. (NYSE:PINE) – B. Riley cut their Q1 2024 earnings estimates for shares of Alpine Income Property Trust in a research note issued on Thursday, April 18th. B. Riley analyst J. Massocca now expects that the company will post earnings of $0.38 per share for the quarter, down from their previous forecast of $0.39. The consensus estimate for Alpine Income Property Trust’s current full-year earnings is $1.55 per share. B. Riley also issued estimates for Alpine Income Property Trust’s Q2 2024 earnings at $0.38 EPS, Q3 2024 earnings at $0.38 EPS, Q4 2024 earnings at $0.39 EPS, Q1 2025 earnings at $0.40 EPS, Q2 2025 earnings at $0.40 EPS, Q3 2025 earnings at $0.39 EPS, Q4 2025 earnings at $0.40 EPS and FY2025 earnings at $1.59 EPS.

Several other equities research analysts have also commented on the stock. Jonestrading cut their price target on shares of Alpine Income Property Trust from $20.00 to $19.00 and set a “buy” rating for the company in a report on Monday, February 12th. Alliance Global Partners began coverage on shares of Alpine Income Property Trust in a research report on Thursday, April 11th. They set a “buy” rating and a $19.00 price target on the stock. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $19.60.

Alpine Income Property Trust Price Performance

Shares of NYSE PINE opened at $14.59 on Friday. The firm has a market cap of $198.72 million, a PE ratio of 76.79, a PEG ratio of 1.57 and a beta of 0.80. The firm has a fifty day moving average of $15.46 and a 200 day moving average of $15.94. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.64 and a current ratio of 2.64. Alpine Income Property Trust has a one year low of $14.25 and a one year high of $17.72.

Hedge Funds Weigh In On Alpine Income Property Trust

A number of institutional investors have recently made changes to their positions in the stock. Sound Income Strategies LLC boosted its stake in shares of Alpine Income Property Trust by 7.6% in the 4th quarter. Sound Income Strategies LLC now owns 574,075 shares of the company’s stock valued at $9,708,000 after purchasing an additional 40,536 shares in the last quarter. Exchange Traded Concepts LLC boosted its position in Alpine Income Property Trust by 47.3% during the 4th quarter. Exchange Traded Concepts LLC now owns 73,452 shares of the company’s stock valued at $1,242,000 after buying an additional 23,595 shares during the period. Penserra Capital Management LLC boosted its position in Alpine Income Property Trust by 14.4% during the 3rd quarter. Penserra Capital Management LLC now owns 29,426 shares of the company’s stock valued at $481,000 after buying an additional 3,710 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in Alpine Income Property Trust during the 3rd quarter valued at $70,000. Finally, State of New Jersey Common Pension Fund D boosted its position in Alpine Income Property Trust by 4.9% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 213,000 shares of the company’s stock valued at $3,485,000 after buying an additional 10,000 shares during the period. Institutional investors own 60.50% of the company’s stock.

Alpine Income Property Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 7.54%. The ex-dividend date was Wednesday, March 13th. Alpine Income Property Trust’s payout ratio is 578.98%.

About Alpine Income Property Trust

Alpine Income Property Trust, Inc (NYSE: PINE) is a publicly traded real estate investment trust that seeks to deliver attractive risk-adjusted returns and dependable cash dividends by investing in, owning and operating a portfolio of single tenant net leased properties that are predominately leased to high-quality publicly traded and credit-rated tenants.