Alpine Income Property Trust (NYSE:PINE) Posts Quarterly Earnings Results, Misses Expectations By $0.19 EPS

Alpine Income Property Trust (NYSE:PINE) issued its quarterly earnings data on Thursday. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.19), Yahoo Finance reports. The business had revenue of $13.48 million during the quarter, compared to the consensus estimate of $12.08 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 last year, the company earned $0.37 EPS. Alpine Income Property Trust updated its FY 2024 guidance to 1.670-1.690 EPS.

Alpine Income Property Trust Trading Up 4.5 %

NYSE PINE traded up $0.80 on Friday, hitting $18.47. 203,908 shares of the stock were exchanged, compared to its average volume of 57,928. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.88 and a current ratio of 0.88. Alpine Income Property Trust has a 52-week low of $14.25 and a 52-week high of $19.42. The firm has a market capitalization of $251.75 million, a P/E ratio of -461.75, a P/E/G ratio of 1.74 and a beta of 0.80. The stock has a fifty day moving average price of $18.04 and a two-hundred day moving average price of $16.50.

Alpine Income Property Trust Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 12th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $1.12 annualized dividend and a dividend yield of 6.06%. This is an increase from Alpine Income Property Trust’s previous quarterly dividend of $0.28. Alpine Income Property Trust’s payout ratio is currently -2,800.00%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on PINE shares. Truist Financial upped their price target on Alpine Income Property Trust from $16.00 to $18.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. UBS Group started coverage on shares of Alpine Income Property Trust in a report on Monday, October 14th. They issued a “neutral” rating and a $19.00 target price for the company. Alliance Global Partners lifted their price target on shares of Alpine Income Property Trust from $20.00 to $21.00 and gave the company a “buy” rating in a report on Friday. Raymond James increased their price objective 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. Finally, B. Riley restated a “buy” rating and set a $20.00 price objective (up from $19.50) on shares of Alpine Income Property Trust in a research report on Wednesday, July 24th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Alpine Income Property Trust currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.16.

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.