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

Alpine Income Property Trust (NYSE:PINE) announced its earnings results on Thursday. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.19), Yahoo Finance reports. The company had revenue of $13.48 million for the quarter, compared to the consensus estimate of $12.08 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 period last year, the business posted $0.37 EPS. Alpine Income Property Trust updated its FY 2024 guidance to 1.670-1.690 EPS.

Alpine Income Property Trust Stock Performance

Shares of PINE stock opened at $17.65 on Friday. The firm has a market capitalization of $240.45 million, a price-to-earnings ratio of -441.25, a price-to-earnings-growth ratio of 1.76 and a beta of 0.80. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.88 and a quick ratio of 0.88. The business has a fifty day moving average of $18.01 and a 200 day moving average of $16.47. Alpine Income Property Trust has a 1 year low of $14.25 and a 1 year high of $19.42.

Alpine Income Property Trust Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 12th were paid a $0.28 dividend. This is a positive change from Alpine Income Property Trust’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $1.12 dividend on an annualized basis and a yield of 6.35%. Alpine Income Property Trust’s dividend payout ratio (DPR) is -2,800.00%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Raymond James increased their target price on Alpine Income Property Trust from $18.00 to $19.00 and gave the company an “outperform” rating in a research report on Wednesday, August 21st. Stifel Nicolaus increased their target price on 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. Truist Financial increased their target price on Alpine Income Property Trust from $16.00 to $18.00 and gave the company a “hold” rating in a research report on Tuesday, July 30th. UBS Group started coverage on Alpine Income Property Trust in a report on Monday. They set a “neutral” rating and a $19.00 price objective for the company. Finally, B. Riley reiterated a “buy” rating and set a $20.00 price objective (up previously from $19.50) on shares of Alpine Income Property Trust in a report on Wednesday, July 24th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $18.91.

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.