Alpine Income Property Trust, Inc. (NYSE:PINE) to Issue $0.28 Quarterly Dividend

Alpine Income Property Trust, Inc. (NYSE:PINE) announced a quarterly dividend on Tuesday, November 19th,Wall Street Journal reports. Investors of record on Thursday, December 12th will be paid a dividend of 0.28 per share on Tuesday, December 31st. This represents a $1.12 dividend on an annualized basis and a yield of 6.37%. The ex-dividend date of this dividend is Thursday, December 12th.

Alpine Income Property Trust has raised its dividend by an average of 17.1% annually over the last three years. Alpine Income Property Trust has a payout ratio of 800.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Alpine Income Property Trust to earn $1.74 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 64.4%.

Alpine Income Property Trust Stock Performance

Shares of Alpine Income Property Trust stock opened at $17.57 on Thursday. The company has a 50 day moving average of $17.89 and a 200-day moving average of $16.95. The company has a market cap of $250.72 million, a PE ratio of 79.87, a price-to-earnings-growth ratio of 1.73 and a beta of 0.80. The company has a current ratio of 3.85, a quick ratio of 3.85 and a debt-to-equity ratio of 1.03. Alpine Income Property Trust has a 1-year low of $14.32 and a 1-year high of $19.42.

Alpine Income Property Trust (NYSE:PINE) last issued its earnings results on Thursday, October 17th. The company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.19). Alpine Income Property Trust had a net margin of 6.72% and a return on equity of 1.23%. The company had revenue of $13.48 million during the quarter, compared to analyst estimates of $12.08 million. During the same quarter in the prior year, the business earned $0.37 EPS. As a group, equities research analysts forecast that Alpine Income Property Trust will post 1.71 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on PINE shares. 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 research report on Friday, October 18th. B. Riley reissued a “buy” rating and set a $20.00 target price (up from $19.50) on shares of Alpine Income Property Trust in a research report on Wednesday, July 24th. Stifel Nicolaus raised their price target on shares of Alpine Income Property Trust from $19.75 to $20.25 and gave the company a “buy” rating in a research report on Monday, October 21st. Raymond James boosted their price objective on Alpine Income Property Trust from $18.00 to $19.00 and gave the stock an “outperform” rating in a report on Wednesday, August 21st. Finally, 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. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $19.25.

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.