Alpine Income Property Trust (NYSE:PINE) Updates FY 2024 Earnings Guidance

Alpine Income Property Trust (NYSE:PINE) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 1.670-1.690 for the period, compared to the consensus earnings per share estimate of 1.640. The company issued revenue guidance of -.

Wall Street Analyst Weigh In

Several analysts have issued reports on PINE shares. Raymond James boosted their target price on shares of Alpine Income Property Trust from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Wednesday, August 21st. Truist Financial upped their price target 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. Stifel Nicolaus raised their price objective on Alpine Income Property Trust from $18.00 to $19.25 and gave the stock a “buy” rating in a research report on Friday, July 19th. UBS Group started coverage on shares of Alpine Income Property Trust in a research report on Monday. They issued a “neutral” rating and a $19.00 price target for the company. Finally, B. Riley reaffirmed 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 issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $18.91.

Alpine Income Property Trust Stock Down 1.4 %

Shares of PINE traded down $0.25 during mid-day trading on Thursday, hitting $17.65. 79,126 shares of the company’s stock were exchanged, compared to its average volume of 57,196. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.00. Alpine Income Property Trust has a twelve month low of $14.25 and a twelve month high of $19.42. The firm has a fifty day moving average of $18.00 and a two-hundred day moving average of $16.46. The stock has a market cap of $240.45 million, a price-to-earnings ratio of -441.25, a P/E/G ratio of 1.76 and a beta of 0.80.

Alpine Income Property Trust (NYSE:PINE) last issued its quarterly earnings data on Thursday, July 18th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.38). Alpine Income Property Trust had a negative net margin of 1.16% and a negative return on equity of 0.20%. The company had revenue of $12.49 million for the quarter, compared to analyst estimates of $12.10 million. During the same period in the prior year, the company posted $0.37 EPS. On average, sell-side analysts forecast that Alpine Income Property Trust will post 1.65 earnings per share for the current year.

Alpine Income Property Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 12th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 6.35%. This is a boost from Alpine Income Property Trust’s previous quarterly dividend of $0.28. The ex-dividend date was Thursday, September 12th. Alpine Income Property Trust’s payout ratio is presently -2,800.00%.

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.