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 brokerages recently issued reports on PINE. Jonestrading dropped their price objective on shares of Alpine Income Property Trust from $20.00 to $19.00 and set a buy rating for the company in a report on Monday, February 12th. Alliance Global Partners began coverage on shares of Alpine Income Property Trust in a report on Thursday, April 11th. They issued a buy rating and a $19.00 price objective for the company. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of Buy and an average price target of $19.60.

Alpine Income Property Trust Trading Up 0.1 %

NYSE PINE opened at $14.59 on Friday. The firm’s 50-day moving average is $15.46 and its two-hundred day moving average is $15.94. Alpine Income Property Trust has a 12 month low of $14.25 and a 12 month 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 stock has a market capitalization of $198.72 million, a P/E ratio of 76.79, a PEG ratio of 1.57 and a beta of 0.80.

Alpine Income Property Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a dividend of $0.275 per share. The ex-dividend date was Wednesday, March 13th. This represents a $1.10 annualized dividend 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

Several hedge funds have recently made changes to their positions in PINE. Bank of New York Mellon Corp lifted its position in shares of 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 purchasing an additional 19,161 shares in the last quarter. BlackRock Inc. lifted its position in shares of Alpine Income Property Trust by 10.7% during the first quarter. BlackRock Inc. now owns 168,424 shares of the company’s stock worth $3,166,000 after purchasing an additional 16,344 shares in the last quarter. LSV Asset Management lifted its position in shares of Alpine Income Property Trust by 773.5% during the first quarter. LSV Asset Management now owns 29,700 shares of the company’s stock worth $558,000 after purchasing an additional 26,300 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Alpine Income Property Trust by 84.7% during the first quarter. Dimensional Fund Advisors LP now owns 20,911 shares of the company’s stock worth $393,000 after purchasing an additional 9,587 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Alpine Income Property Trust by 27.0% during the first quarter. Vanguard Group Inc. now owns 555,748 shares of the company’s stock worth $10,448,000 after purchasing an additional 118,120 shares in the last quarter. Institutional investors and hedge funds own 60.50% of the company’s stock.

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.