Alpine Income Property Trust (NYSE:PINE) Issues Quarterly Earnings Results

Alpine Income Property Trust (NYSE:PINE) issued its earnings results on Thursday. The company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.19), Yahoo Finance reports. Alpine Income Property Trust had a negative return on equity of 0.20% and a negative net margin of 1.16%. The company had revenue of $13.48 million during the quarter, compared to the consensus estimate of $12.08 million. During the same quarter in the prior year, the company earned $0.37 earnings per share. Alpine Income Property Trust updated its FY 2024 guidance to 1.670-1.690 EPS.

Alpine Income Property Trust Stock Up 4.5 %

PINE traded up $0.80 during trading on Friday, hitting $18.47. The stock had a trading volume of 203,908 shares, compared to its average volume of 57,928. The stock has a 50 day simple moving average of $18.04 and a two-hundred day simple moving average of $16.50. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.88 and a current ratio of 0.88. Alpine Income Property Trust has a twelve month low of $14.25 and a twelve month high of $19.42. The company has a market capitalization of $251.75 million, a PE ratio of -461.75, a PEG ratio of 1.74 and a beta of 0.80.

Alpine Income Property Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 12th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 6.06%. The ex-dividend date of this dividend was Thursday, September 12th. This is a positive change from Alpine Income Property Trust’s previous quarterly dividend of $0.28. Alpine Income Property Trust’s payout ratio is -2,800.00%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on PINE shares. Truist Financial increased their price objective on Alpine Income Property Trust from $16.00 to $18.00 and gave the stock a “hold” rating in a research note on Tuesday, July 30th. Stifel Nicolaus raised their price target on Alpine Income Property Trust from $18.00 to $19.25 and gave the company a “buy” rating in a research note on Friday, July 19th. B. Riley reaffirmed a “buy” rating and issued a $20.00 price objective (up from $19.50) on shares of Alpine Income Property Trust in a research note on Wednesday, July 24th. UBS Group began coverage on shares of Alpine Income Property Trust in a research report on Monday, October 14th. They set a “neutral” rating and a $19.00 target price on the stock. Finally, Raymond James upped their price target on shares of Alpine Income Property Trust from $18.00 to $19.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 21st. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $19.16.

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.