Alpine Income Property Trust, Inc. (PINE) to Issue Quarterly Dividend of $0.28 on December 31st

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 annualized dividend and a dividend yield of 6.37%. The ex-dividend date of this dividend is Thursday, December 12th.

Alpine Income Property Trust has increased its dividend payment by an average of 17.1% per year over the last three years. Alpine Income Property Trust has a payout ratio of 800.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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 PINE stock opened at $17.57 on Thursday. Alpine Income Property Trust has a fifty-two week low of $14.32 and a fifty-two week high of $19.42. The stock’s 50-day moving average is $17.89 and its two-hundred day moving average is $16.95. The company has a debt-to-equity ratio of 1.03, a current ratio of 3.85 and a quick ratio of 3.85. The firm has a market cap of $250.72 million, a P/E ratio of 79.87, a PEG ratio of 1.73 and a beta of 0.80.

Alpine Income Property Trust (NYSE:PINE) last posted its earnings results on Thursday, October 17th. The company reported $0.21 earnings per share (EPS) 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 business had revenue of $13.48 million during the quarter, compared to analyst estimates of $12.08 million. During the same quarter last year, the firm earned $0.37 earnings per share. Analysts predict that Alpine Income Property Trust will post 1.71 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on PINE shares. Truist Financial boosted their target price on Alpine Income Property Trust from $16.00 to $18.00 and gave the stock a “hold” rating in a report on Tuesday, July 30th. Robert W. Baird boosted their target price on shares of Alpine Income Property Trust from $18.00 to $19.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Alliance Global Partners raised their target price on Alpine Income Property Trust from $20.00 to $21.00 and gave the company a “buy” rating in a report on Friday, October 18th. UBS Group began coverage on Alpine Income Property Trust in a report on Monday, October 14th. They set a “neutral” rating and a $19.00 price target for the company. Finally, Raymond James boosted their target price on shares of Alpine Income Property Trust from $18.00 to $19.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 21st. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Alpine Income Property Trust currently has an average rating of “Moderate Buy” and a consensus target price of $19.25.

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.