Alpine Income Property Trust (NYSE:PINE) Updates FY 2024 Earnings Guidance

Alpine Income Property Trust (NYSE:PINE) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 1.670-1.690 for the period, compared to the consensus earnings per share estimate of 1.640. The company issued revenue guidance of -.

Alpine Income Property Trust Trading Up 4.2 %

NYSE PINE opened at $18.41 on Friday. The firm has a market capitalization of $250.93 million, a PE ratio of -460.25, a P/E/G ratio of 1.74 and a beta of 0.80. The stock’s 50 day moving average is $18.04 and its 200 day moving average is $16.49. Alpine Income Property Trust has a twelve month low of $14.25 and a twelve month high of $19.42. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.00.

Alpine Income Property Trust (NYSE:PINE) last released its earnings results on Thursday, October 17th. The company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.19). Alpine Income Property Trust had a negative return on equity of 0.20% and a negative net margin of 1.16%. The business had revenue of $13.48 million during the quarter, compared to analysts’ expectations of $12.08 million. During the same period in the prior year, the company earned $0.37 earnings per share. Research analysts forecast that Alpine Income Property Trust will post 1.65 earnings per share for the current fiscal year.

Alpine Income Property Trust Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 12th were given a $0.28 dividend. This is a boost from Alpine Income Property Trust’s previous quarterly dividend of $0.28. This represents a $1.12 dividend on an annualized basis and a dividend yield of 6.08%. The ex-dividend date of this dividend was Thursday, September 12th. Alpine Income Property Trust’s payout ratio is currently -2,800.00%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on PINE shares. UBS Group assumed coverage on Alpine Income Property Trust in a research note on Monday, October 14th. They set a “neutral” rating and a $19.00 price objective for the company. B. Riley reaffirmed a “buy” rating and issued a $20.00 price target (up previously from $19.50) on shares of Alpine Income Property Trust in a research report on Wednesday, July 24th. Stifel Nicolaus increased their price objective on shares of Alpine Income Property Trust from $18.00 to $19.25 and gave the company a “buy” rating in a research report on Friday, July 19th. Alliance Global Partners raised their price objective on shares of Alpine Income Property Trust from $20.00 to $21.00 and gave the company a “buy” rating in a research note on Friday. Finally, Raymond James upped their target price on shares of Alpine Income Property Trust from $18.00 to $19.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 21st. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company 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.