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 -.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PINE. Alliance Global Partners started 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 objective for the company. Jonestrading reduced their price target on shares of Alpine Income Property Trust from $20.00 to $19.00 and set a buy rating on the stock in a research report on Monday, February 12th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of Buy and a consensus price target of $19.60.

Alpine Income Property Trust Price Performance

Shares of NYSE PINE traded up $0.01 during mid-day trading on Thursday, reaching $14.59. 73,184 shares of the company traded hands, compared to its average volume of 53,259. Alpine Income Property Trust has a fifty-two week low of $14.25 and a fifty-two week high of $17.72. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.64 and a quick ratio of 2.64. The firm has a market cap of $198.72 million, a PE ratio of 76.74, a price-to-earnings-growth ratio of 1.60 and a beta of 0.80. The stock has a fifty day simple moving average of $15.47 and a 200-day simple moving average of $15.95.

Alpine Income Property Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were paid 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 dividend yield of 7.54%. Alpine Income Property Trust’s dividend payout ratio is presently 578.98%.

Institutional Trading of Alpine Income Property Trust

A number of large investors have recently added to or reduced their stakes in PINE. Bank of New York Mellon Corp boosted its holdings in Alpine Income Property Trust by 60.3% during the first quarter. Bank of New York Mellon Corp now owns 50,916 shares of the company’s stock worth $957,000 after buying an additional 19,161 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Alpine Income Property Trust by 10.7% in the 1st quarter. BlackRock Inc. now owns 168,424 shares of the company’s stock valued at $3,166,000 after purchasing an additional 16,344 shares during the last quarter. LSV Asset Management lifted its stake in shares of Alpine Income Property Trust by 773.5% in the 1st quarter. LSV Asset Management now owns 29,700 shares of the company’s stock valued at $558,000 after purchasing an additional 26,300 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Alpine Income Property Trust by 84.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 20,911 shares of the company’s stock worth $393,000 after acquiring an additional 9,587 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in Alpine Income Property Trust by 27.0% during the 1st quarter. Vanguard Group Inc. now owns 555,748 shares of the company’s stock worth $10,448,000 after acquiring an additional 118,120 shares during the last quarter. 60.50% of the stock is currently owned by institutional investors.

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.