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

Alpine Income Property Trust (NYSE:PINE) released 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. Alpine Income Property Trust had a negative net margin of 1.16% and a negative return on equity of 0.20%. The firm had revenue of $13.48 million during the quarter, compared to analysts’ expectations of $12.08 million. During the same period in the previous year, the business earned $0.37 earnings per share. Alpine Income Property Trust updated its FY 2024 guidance to 1.670-1.690 EPS.

Alpine Income Property Trust Trading Up 4.2 %

NYSE:PINE opened at $18.41 on Friday. 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 business’s 50 day moving average is $18.04 and its two-hundred day moving average is $16.49. Alpine Income Property Trust has a 52 week low of $14.25 and a 52 week high of $19.42. The company has a market cap of $250.93 million, a PE ratio of -460.25, a P/E/G ratio of 1.74 and a beta of 0.80.

Alpine Income Property Trust Increases Dividend

The firm also recently declared 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 6.08%. 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%.

Analysts Set New Price Targets

PINE has been the subject of several research analyst reports. Stifel Nicolaus raised their price objective on Alpine Income Property Trust from $18.00 to $19.25 and gave the company a “buy” rating in a research note on Friday, July 19th. Truist Financial lifted their price objective on Alpine Income Property Trust from $16.00 to $18.00 and gave the company a “hold” rating in a research report on Tuesday, July 30th. Raymond James lifted their target price on Alpine Income Property Trust from $18.00 to $19.00 and gave the company an “outperform” rating in a report on Wednesday, August 21st. UBS Group assumed coverage on Alpine Income Property Trust in a report on Monday, October 14th. They issued a “neutral” rating and a $19.00 target price on the stock. Finally, B. Riley reaffirmed a “buy” rating and issued a $20.00 target price (up previously from $19.50) on shares of Alpine Income Property Trust in a research report on Wednesday, July 24th. Two equities research 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 company presently has an average 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.