Alpine Income Property Trust, Inc. (NYSE:PINE) Declares Quarterly Dividend of $0.29

Alpine Income Property Trust, Inc. (NYSE:PINE) announced a quarterly dividend on Friday, February 7th,Wall Street Journal reports. Stockholders of record on Thursday, March 13th will be given a dividend of 0.285 per share on Monday, March 31st. This represents a $1.14 annualized dividend and a dividend yield of 7.03%. The ex-dividend date is Thursday, March 13th. This is an increase from Alpine Income Property Trust’s previous quarterly dividend of $0.28.

Alpine Income Property Trust has increased its dividend by an average of 5.5% per year over the last three years. Alpine Income Property Trust has a dividend payout ratio of 933.3% 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 $1.76 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 63.6%.

Alpine Income Property Trust Stock Performance

NYSE PINE opened at $16.22 on Friday. The business’s 50 day moving average price is $16.87 and its 200-day moving average price is $17.51. Alpine Income Property Trust has a fifty-two week low of $14.32 and a fifty-two week high of $19.42. The company has a market cap of $231.46 million, a P/E ratio of 115.86, a P/E/G ratio of 1.61 and a beta of 0.80. The company has a debt-to-equity ratio of 1.03, a quick ratio of 3.85 and a current ratio of 3.85.

Alpine Income Property Trust (NYSE:PINE) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.40. Alpine Income Property Trust had a net margin of 3.96% and a return on equity of 0.76%. Sell-side analysts predict that Alpine Income Property Trust will post 1.78 earnings per share for the current year.

Insider Activity

In other Alpine Income Property Trust news, Director Wein Rachel Elias sold 2,000 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $18.00, for a total transaction of $36,000.00. Following the sale, the director now owns 9,492 shares of the company’s stock, valued at approximately $170,856. This trade represents a 17.40 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.74% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Robert W. Baird raised their price objective on shares of Alpine Income Property Trust from $18.00 to $19.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. Alliance Global Partners raised their price target on Alpine Income Property Trust from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. UBS Group initiated coverage on Alpine Income Property Trust in a report on Monday, October 14th. They set a “neutral” rating and a $19.00 price objective for the company. Finally, Stifel Nicolaus increased their target price on Alpine Income Property Trust from $19.75 to $20.25 and gave the stock a “buy” rating in a research note on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.