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 earnings per share (EPS) guidance of 1.530-1.580 for the period, compared to the consensus estimate of 1.540. The company issued revenue guidance of -.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Jonestrading dropped their target price on shares of Alpine Income Property Trust from $20.00 to $19.00 and set a buy rating on the stock in a research note on Monday, February 12th. Alliance Global Partners assumed coverage on shares of Alpine Income Property Trust in a research report on Thursday, April 11th. They issued a buy rating and a $19.00 price target for the company. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of Buy and a consensus price target of $19.60.

Alpine Income Property Trust Stock Up 0.1 %

Shares of PINE traded up $0.01 during mid-day trading on Thursday, hitting $14.59. The company’s stock had a trading volume of 73,184 shares, compared to its average volume of 53,259. The company’s 50-day moving average is $15.47 and its 200-day moving average is $15.95. Alpine Income Property Trust has a 52-week low of $14.25 and a 52-week high of $17.72. The firm has a market capitalization of $198.72 million, a price-to-earnings ratio of 76.79, a PEG ratio of 1.60 and a beta of 0.80. The company has a current ratio of 2.64, a quick ratio of 2.64 and a debt-to-equity ratio of 1.00.

Alpine Income Property Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were given a dividend of $0.275 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.10 dividend on an annualized basis and a yield of 7.54%. Alpine Income Property Trust’s payout ratio is 578.98%.

Institutional Investors Weigh In On Alpine Income Property Trust

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Royal Bank of Canada lifted its position in Alpine Income Property Trust by 5.2% during the third quarter. Royal Bank of Canada now owns 11,396 shares of the company’s stock valued at $185,000 after acquiring an additional 565 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Alpine Income Property Trust by 17.5% in the fourth quarter. JPMorgan Chase & Co. now owns 4,275 shares of the company’s stock worth $82,000 after buying an additional 636 shares during the last quarter. UBS Group AG raised its holdings in shares of Alpine Income Property Trust by 3.0% in the first quarter. UBS Group AG now owns 24,253 shares of the company’s stock worth $455,000 after buying an additional 703 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Alpine Income Property Trust by 1.2% in the third quarter. Bank of New York Mellon Corp now owns 61,910 shares of the company’s stock worth $1,005,000 after buying an additional 738 shares during the last quarter. Finally, Rhumbline Advisers raised its holdings in shares of Alpine Income Property Trust by 2.9% in the third quarter. Rhumbline Advisers now owns 27,151 shares of the company’s stock worth $444,000 after buying an additional 754 shares during the last quarter. Hedge funds and other 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.