Q2 2024 Earnings Forecast for Alpine Income Property Trust, Inc. (NYSE:PINE) Issued By B. Riley

Alpine Income Property Trust, Inc. (NYSE:PINE) – Equities research analysts at B. Riley increased their Q2 2024 EPS estimates for Alpine Income Property Trust in a research note issued to investors on Wednesday, July 17th. B. Riley analyst J. Massocca now forecasts that the company will post earnings per share of $0.39 for the quarter, up from their previous forecast of $0.38. The consensus estimate for Alpine Income Property Trust’s current full-year earnings is $1.58 per share. B. Riley also issued estimates for Alpine Income Property Trust’s Q3 2024 earnings at $0.39 EPS, Q4 2024 earnings at $0.40 EPS, FY2024 earnings at $1.59 EPS and FY2025 earnings at $1.62 EPS.

PINE has been the topic of several other reports. BTIG Research lowered their target price on shares of Alpine Income Property Trust from $23.00 to $19.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Jonestrading lowered their target price on shares of Alpine Income Property Trust from $19.00 to $18.00 and set a “buy” rating on the stock in a report on Friday, April 19th. Alliance Global Partners started coverage on shares of Alpine Income Property Trust in a report on Thursday, April 11th. They set a “buy” rating and a $19.00 target price on the stock. Finally, Stifel Nicolaus raised their target price on shares of Alpine Income Property Trust from $18.00 to $19.25 and gave the stock a “buy” rating in a report on Friday. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $18.81.

Alpine Income Property Trust Trading Up 0.1 %

Shares of PINE stock opened at $16.80 on Friday. Alpine Income Property Trust has a 12-month low of $14.25 and a 12-month high of $17.72. The firm has a 50 day moving average price of $15.53 and a two-hundred day moving average price of $15.55. The company has a market capitalization of $228.87 million, a PE ratio of -420.00, a price-to-earnings-growth ratio of 1.78 and a beta of 0.79. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 1.00.

Alpine Income Property Trust (NYSE:PINE) last issued its quarterly earnings data on Thursday, July 18th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.38). The company had revenue of $12.49 million for the quarter, compared to analyst estimates of $12.10 million. Alpine Income Property Trust had a negative return on equity of 0.20% and a negative net margin of 1.16%. During the same quarter last year, the business earned $0.37 earnings per share.

Alpine Income Property Trust Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 6.55%. Alpine Income Property Trust’s payout ratio is presently -2,750.00%.

Insiders Place Their Bets

In other Alpine Income Property Trust news, major shareholder Cto Realty Growth, Inc. purchased 6,562 shares of the business’s stock in a transaction dated Tuesday, July 9th. The shares were bought at an average price of $14.99 per share, for a total transaction of $98,364.38. Following the completion of the acquisition, the insider now owns 202,918 shares in the company, valued at $3,041,740.82. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders have purchased 21,804 shares of company stock valued at $326,747. 0.74% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Alpine Income Property Trust

Several hedge funds and other institutional investors have recently bought and sold shares of PINE. Tower Research Capital LLC TRC grew its position in Alpine Income Property Trust by 312.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,910 shares of the company’s stock worth $49,000 after purchasing an additional 2,205 shares in the last quarter. SG Americas Securities LLC bought a new stake in Alpine Income Property Trust in the 4th quarter worth about $117,000. Tidal Investments LLC grew its position in Alpine Income Property Trust by 5.8% in the 1st quarter. Tidal Investments LLC now owns 19,466 shares of the company’s stock worth $297,000 after purchasing an additional 1,064 shares in the last quarter. Guardian Wealth Management Inc. grew its position in Alpine Income Property Trust by 3.0% in the 4th quarter. Guardian Wealth Management Inc. now owns 38,927 shares of the company’s stock worth $658,000 after purchasing an additional 1,138 shares in the last quarter. Finally, Carlson Capital L P bought a new stake in Alpine Income Property Trust in the 1st quarter worth about $1,202,000. 60.50% of the stock is owned by institutional investors.

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.