Q3 2024 EPS Estimates for Alpine Income Property Trust, Inc. Boosted by Analyst (NYSE:PINE)

Alpine Income Property Trust, Inc. (NYSE:PINE) – Analysts at B. Riley increased their Q3 2024 earnings per share estimates for Alpine Income Property Trust in a research note issued on Wednesday, July 24th. B. Riley analyst J. Massocca now forecasts that the company will post earnings of $0.40 per share for the quarter, up from their prior estimate of $0.39. B. Riley has a “Buy” rating and a $20.00 price objective on the stock. The consensus estimate for Alpine Income Property Trust’s current full-year earnings is $1.63 per share. B. Riley also issued estimates for Alpine Income Property Trust’s FY2024 earnings at $1.64 EPS, Q2 2025 earnings at $0.41 EPS, Q4 2025 earnings at $0.41 EPS, FY2025 earnings at $1.64 EPS and FY2026 earnings at $1.56 EPS.

Alpine Income Property Trust (NYSE:PINE) last posted its earnings results on Thursday, July 18th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.38). The business 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 period last year, the company posted $0.37 EPS.

PINE has been the subject of a number of other reports. BTIG Research decreased their price target on shares of Alpine Income Property Trust from $23.00 to $19.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. Alliance Global Partners assumed coverage on Alpine Income Property Trust in a research note on Thursday, April 11th. They issued a “buy” rating and a $19.00 target price for the company. Jonestrading reduced their price target on Alpine Income Property Trust from $19.00 to $18.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. Finally, 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. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $19.05.

Alpine Income Property Trust Price Performance

Alpine Income Property Trust stock opened at $17.20 on Thursday. The firm has a fifty day moving average of $15.67 and a 200-day moving average of $15.57. Alpine Income Property Trust has a 52-week low of $14.25 and a 52-week high of $17.72. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $234.44 million, a P/E ratio of -430.00, a PEG ratio of 1.74 and a beta of 0.79.

Alpine Income Property Trust Dividend Announcement

The firm also recently disclosed 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 was Thursday, June 13th. This represents a $1.10 dividend on an annualized basis and a yield of 6.40%. Alpine Income Property Trust’s dividend payout ratio (DPR) is presently -2,750.00%.

Insiders Place Their Bets

In other Alpine Income Property Trust news, major shareholder Cto Realty Growth, Inc. bought 7,959 shares of the business’s stock in a transaction on Thursday, June 27th. The shares were bought at an average cost of $14.97 per share, with a total value of $119,146.23. Following the transaction, the insider now directly owns 190,094 shares in the company, valued at approximately $2,845,707.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have acquired 21,804 shares of company stock worth $326,747 in the last three months. 0.74% of the stock is owned by insiders.

Institutional Investors Weigh In On Alpine Income Property Trust

Hedge funds and other institutional investors have recently modified their holdings of the stock. Tidal Investments LLC increased its holdings in shares of Alpine Income Property Trust by 5.8% in the 1st quarter. Tidal Investments LLC now owns 19,466 shares of the company’s stock valued at $297,000 after acquiring an additional 1,064 shares during the last quarter. Guardian Wealth Management Inc. increased its stake in Alpine Income Property Trust by 3.0% during the fourth quarter. Guardian Wealth Management Inc. now owns 38,927 shares of the company’s stock valued at $658,000 after purchasing an additional 1,138 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in Alpine Income Property Trust by 312.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,910 shares of the company’s stock valued at $49,000 after purchasing an additional 2,205 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Alpine Income Property Trust by 5.2% during the second quarter. Bank of New York Mellon Corp now owns 94,923 shares of the company’s stock worth $1,477,000 after purchasing an additional 4,723 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in shares of Alpine Income Property Trust by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 755,563 shares of the company’s stock valued at $11,545,000 after buying an additional 6,522 shares during the period. Institutional investors own 60.50% of the company’s stock.

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.