Alpine Income Property Trust (NYSE:PINE) Releases Quarterly Earnings Results, Misses Expectations By $0.38 EPS

Alpine Income Property Trust (NYSE:PINE) released its quarterly earnings data on Thursday. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.38), Yahoo Finance reports. The firm had revenue of $12.49 million for the quarter, compared to the consensus estimate of $12.10 million. Alpine Income Property Trust had a negative net margin of 1.16% and a negative return on equity of 0.20%. During the same quarter in the prior year, the firm posted $0.37 earnings per share. Alpine Income Property Trust updated its FY 2024 guidance to 1.600-1.640 EPS.

Alpine Income Property Trust Stock Performance

NYSE:PINE opened at $16.80 on Friday. The stock has a market capitalization of $228.82 million, a P/E ratio of -420.00, a price-to-earnings-growth ratio of 1.78 and a beta of 0.79. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 1.00. Alpine Income Property Trust has a 1 year low of $14.25 and a 1 year high of $17.72. The firm has a 50 day moving average of $15.53 and a 200-day moving average of $15.55.

Alpine Income Property Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Thursday, June 13th were paid a dividend of $0.275 per share. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $1.10 annualized dividend and a yield of 6.55%. Alpine Income Property Trust’s dividend payout ratio is -2,750.00%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PINE. BTIG Research reduced their price objective on shares of Alpine Income Property Trust from $23.00 to $19.00 and set a “buy” rating for the company in a report on Monday, April 22nd. Jonestrading cut their price target on shares of Alpine Income Property Trust from $19.00 to $18.00 and set a “buy” rating for the company in a research note on Friday, April 19th. Alliance Global Partners initiated coverage on Alpine Income Property Trust in a report on Thursday, April 11th. They set a “buy” rating and a $19.00 price objective on the stock. Finally, Stifel Nicolaus increased their target price on Alpine Income Property Trust from $18.00 to $19.25 and gave the stock a “buy” rating in a report on Friday. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $18.81.

Insider Transactions at Alpine Income Property Trust

In other Alpine Income Property Trust news, major shareholder Cto Realty Growth, Inc. acquired 7,959 shares of the business’s stock in a transaction on Thursday, June 27th. The stock was purchased at an average price of $14.97 per share, for a total transaction of $119,146.23. Following the transaction, the insider now owns 190,094 shares in the company, valued at approximately $2,845,707.18. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have acquired 21,804 shares of company stock valued at $326,747 in the last three months. 0.74% of the stock is owned by corporate insiders.

Alpine Income Property Trust Company Profile

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.