Alpine Income Property Trust (NYSE:PINE – Get Free Report) posted its quarterly earnings data on Thursday. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.38), Yahoo Finance reports. The company had revenue of $12.49 million for the quarter, compared to analysts’ expectations of $12.10 million. Alpine Income Property Trust had a negative net margin of 1.16% and a negative return on equity of 0.20%. During the same period in the prior year, the company earned $0.37 earnings per share. Alpine Income Property Trust updated its FY 2024 guidance to 1.600-1.640 EPS.
Alpine Income Property Trust Stock Performance
Shares of PINE stock opened at $16.85 on Friday. The company has a market cap of $229.55 million, a price-to-earnings ratio of -421.25, a price-to-earnings-growth ratio of 1.78 and a beta of 0.79. The stock has a 50 day simple moving average of $15.53 and a 200-day simple moving average of $15.55. Alpine Income Property Trust has a 12-month low of $14.25 and a 12-month high of $17.72. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 1.00.
Alpine Income Property Trust Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Thursday, June 13th were paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 6.53%. The ex-dividend date of this dividend was Thursday, June 13th. Alpine Income Property Trust’s dividend payout ratio (DPR) is -2,750.00%.
Insider Transactions at Alpine Income Property Trust
In other news, major shareholder Cto Realty Growth, Inc. purchased 7,959 shares of the stock in a transaction that occurred on Thursday, June 27th. The shares were acquired at an average price of $14.97 per share, for a total transaction of $119,146.23. Following the acquisition, the insider now directly owns 190,094 shares in the company, valued at approximately $2,845,707.18. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last three months, insiders acquired 21,804 shares of company stock valued at $326,747. Corporate insiders own 0.74% of the company’s stock.
Analyst Ratings Changes
Several research firms have commented on PINE. Alliance Global Partners began coverage on Alpine Income Property Trust in a research note on Thursday, April 11th. They set a “buy” rating and a $19.00 price objective for the company. BTIG Research reduced their price objective on Alpine Income Property Trust from $23.00 to $19.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Stifel Nicolaus upped 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. Finally, Jonestrading cut their target price on Alpine Income Property Trust from $19.00 to $18.00 and set a “buy” rating for the company in a research note on Friday, April 19th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Alpine Income Property Trust currently has a consensus rating of “Buy” and an average price target of $18.81.
Check Out Our Latest Analysis on PINE
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.
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