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

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

Analysts Set New Price Targets

PINE has been the topic of several recent research reports. B. Riley restated a “buy” rating and issued a $20.00 price target (up previously from $19.50) on shares of Alpine Income Property Trust in a report on Wednesday, July 24th. Raymond James lifted their price target 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. Stifel Nicolaus upped 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. UBS Group initiated coverage on Alpine Income Property Trust in a research report on Monday. They set a “neutral” rating and a $19.00 target price on the stock. Finally, Truist Financial boosted their price target on Alpine Income Property Trust from $16.00 to $18.00 and gave the stock a “hold” rating in a research note on Tuesday, July 30th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $18.91.

Alpine Income Property Trust Trading Down 1.4 %

Shares of NYSE:PINE traded down $0.25 during midday trading on Thursday, reaching $17.65. The company had a trading volume of 79,126 shares, compared to its average volume of 57,196. The company has a fifty day simple moving average of $18.00 and a two-hundred day simple moving average of $16.46. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a market cap of $240.45 million, a price-to-earnings ratio of -444.25, a price-to-earnings-growth ratio of 1.76 and a beta of 0.80. Alpine Income Property Trust has a 1-year low of $14.25 and a 1-year high of $19.42.

Alpine Income Property Trust (NYSE:PINE) last announced its quarterly earnings data on Thursday, July 18th. The company reported $0.01 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 quarter in the previous year, the business posted $0.37 earnings per share. Research analysts predict that Alpine Income Property Trust will post 1.65 earnings per share for the current year.

Alpine Income Property Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 12th were issued a $0.28 dividend. 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%. This is an increase from Alpine Income Property Trust’s previous quarterly dividend of $0.28. Alpine Income Property Trust’s dividend payout ratio is currently -2,800.00%.

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.