Alpine Income Property Trust, Inc. (NYSE:PINE) Plans Quarterly Dividend of $0.29

Alpine Income Property Trust, Inc. (NYSE:PINE) declared a quarterly dividend on Wednesday, May 28th, Wall Street Journal reports. Stockholders of record on Thursday, June 12th will be given a dividend of 0.285 per share on Monday, June 30th. This represents a $1.14 annualized dividend and a dividend yield of 7.51%. The ex-dividend date of this dividend is Thursday, June 12th.

Alpine Income Property Trust has increased its dividend by an average of 1.2% annually over the last three years and has increased its dividend every year for the last 3 years. Alpine Income Property Trust has a dividend payout ratio of 3,800.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Alpine Income Property Trust to earn $1.73 per share next year, which means the company should continue to be able to cover its $1.14 annual dividend with an expected future payout ratio of 65.9%.

Alpine Income Property Trust Stock Performance

Shares of PINE traded up $0.05 during mid-day trading on Wednesday, hitting $15.17. 47,659 shares of the company’s stock were exchanged, compared to its average volume of 76,479. The firm has a market cap of $216.43 million, a price-to-earnings ratio of 108.36, a price-to-earnings-growth ratio of 1.58 and a beta of 0.60. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.09. The stock’s 50-day simple moving average is $15.72 and its 200-day simple moving average is $16.47. Alpine Income Property Trust has a 52 week low of $14.51 and a 52 week high of $19.42.

Analyst Ratings Changes

A number of analysts recently weighed in on PINE shares. Stifel Nicolaus decreased their price objective on Alpine Income Property Trust from $19.25 to $18.75 and set a “buy” rating for the company in a report on Friday, April 25th. UBS Group decreased their price target on shares of Alpine Income Property Trust from $17.00 to $16.00 and set a “neutral” rating for the company in a research note on Tuesday, May 13th. Industrial Alliance Securities set a $19.00 price target on shares of Alpine Income Property Trust in a research report on Friday, April 25th. Jones Trading lowered their price objective on Alpine Income Property Trust from $22.00 to $20.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Finally, Alliance Global Partners reaffirmed a “buy” rating on shares of Alpine Income Property Trust in a research report on Friday, April 25th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.97.

Institutional Trading of Alpine Income Property Trust

A hedge fund recently raised its stake in Alpine Income Property Trust stock. Jane Street Group LLC grew its holdings in Alpine Income Property Trust, Inc. (NYSE:PINE) by 55.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,479 shares of the company’s stock after acquiring an additional 8,061 shares during the period. Jane Street Group LLC owned about 0.16% of Alpine Income Property Trust worth $376,000 as of its most recent filing with the Securities & Exchange Commission. 60.50% of the stock is owned by hedge funds and other institutional investors.

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.