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

Alpine Income Property Trust, Inc. (NYSE:PINE) declared a quarterly dividend on Tuesday, November 18th. Stockholders of record on Thursday, December 11th will be given a dividend of 0.285 per share on Wednesday, December 31st. This represents a c) annualized dividend and a dividend yield of 6.9%. The ex-dividend date of this dividend is Thursday, December 11th.

Alpine Income Property Trust has raised its dividend payment by an average of 0.8%per year over the last three years and has raised 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

PINE opened at $16.55 on Wednesday. Alpine Income Property Trust has a twelve month low of $13.10 and a twelve month high of $18.24. The firm has a market capitalization of $234.35 million, a PE ratio of -47.28, a PEG ratio of 1.50 and a beta of 0.64. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 1.46. The firm’s 50-day moving average price is $14.51 and its 200 day moving average price is $14.74.

Alpine Income Property Trust (NYSE:PINE) last released its quarterly earnings data on Thursday, October 23rd. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.52). The business had revenue of $14.56 million during the quarter, compared to analyst estimates of $14.67 million. Alpine Income Property Trust had a negative net margin of 8.86% and a negative return on equity of 1.96%. Alpine Income Property Trust has set its FY 2025 guidance at 1.820-1.850 EPS. As a group, sell-side analysts expect that Alpine Income Property Trust will post 1.74 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on PINE shares. Stifel Nicolaus reduced their price objective on Alpine Income Property Trust from $18.50 to $17.50 and set a “buy” rating on the stock in a research report on Friday, July 25th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Alpine Income Property Trust in a research note on Wednesday, October 8th. Jones Trading reiterated a “buy” rating and set a $19.00 price target on shares of Alpine Income Property Trust in a report on Monday, October 27th. Zacks Research raised shares of Alpine Income Property Trust from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 4th. Finally, Alliance Global Partners restated a “neutral” rating on shares of Alpine Income Property Trust in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $17.50.

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.