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 1.530-1.580 for the period, compared to the consensus earnings per share estimate of 1.540. The company issued revenue guidance of -.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Alliance Global Partners assumed 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 target for the company. Jonestrading cut 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 research report on Monday, February 12th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of Buy and an average target price of $19.60.

Alpine Income Property Trust Stock Performance

Alpine Income Property Trust stock traded up $0.01 during trading hours on Thursday, reaching $14.59. 73,184 shares of the stock were exchanged, compared to its average volume of 53,259. The stock has a market cap of $198.72 million, a P/E ratio of 76.79, a P/E/G ratio of 1.60 and a beta of 0.80. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.64 and a current ratio of 2.64. Alpine Income Property Trust has a 52-week low of $14.25 and a 52-week high of $17.72. The firm’s 50 day moving average is $15.47 and its 200 day moving average is $15.95.

Alpine Income Property Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders 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 (DPR) is presently 578.98%.

Hedge Funds Weigh In On Alpine Income Property Trust

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada grew its stake in shares of Alpine Income Property Trust by 5.2% during the 3rd quarter. Royal Bank of Canada now owns 11,396 shares of the company’s stock worth $185,000 after purchasing an additional 565 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Alpine Income Property Trust by 17.5% during the 4th quarter. JPMorgan Chase & Co. now owns 4,275 shares of the company’s stock worth $82,000 after purchasing an additional 636 shares during the period. UBS Group AG grew its stake in shares of Alpine Income Property Trust by 3.0% during the 1st quarter. UBS Group AG now owns 24,253 shares of the company’s stock worth $455,000 after purchasing an additional 703 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Alpine Income Property Trust by 1.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 61,910 shares of the company’s stock worth $1,005,000 after purchasing an additional 738 shares during the period. Finally, Rhumbline Advisers grew its stake in shares of Alpine Income Property Trust by 2.9% during the 3rd quarter. Rhumbline Advisers now owns 27,151 shares of the company’s stock worth $444,000 after purchasing an additional 754 shares during the period. 60.50% of the stock is owned by institutional investors and hedge funds.

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.