Alpine Income Property Trust, Inc. (NYSE:PINE) to Issue Dividend Increase – $0.29 Per Share

Alpine Income Property Trust, Inc. (NYSE:PINE) announced a quarterly dividend on Friday, February 7th,Wall Street Journal reports. Investors 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 dividend on an annualized basis and a yield of 7.03%. The ex-dividend date is Thursday, March 13th. This is a boost from Alpine Income Property Trust’s previous quarterly dividend of $0.28.

Alpine Income Property Trust has increased its dividend payment by an average of 5.5% annually over the last three years. Alpine Income Property Trust has a dividend payout ratio of 933.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research 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 Price Performance

NYSE PINE opened at $16.22 on Friday. The firm’s fifty day simple moving average is $16.87 and its two-hundred day simple moving average is $17.51. The firm has a market capitalization 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 current ratio of 3.85, a quick ratio of 3.85 and a debt-to-equity ratio of 1.03. Alpine Income Property Trust has a 12-month low of $14.32 and a 12-month high of $19.42.

Alpine Income Property Trust (NYSE:PINE) last announced its earnings results on Thursday, February 6th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.40. Alpine Income Property Trust had a return on equity of 0.76% and a net margin of 3.96%. Analysts forecast that Alpine Income Property Trust will post 1.78 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently commented on PINE. Robert W. Baird increased their price objective on shares of Alpine Income Property Trust from $18.00 to $19.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. UBS Group initiated coverage on shares of Alpine Income Property Trust in a report on Monday, October 14th. They issued a “neutral” rating and a $19.00 price target for the company. Stifel Nicolaus boosted their price objective on shares of Alpine Income Property Trust from $19.75 to $20.25 and gave the company a “buy” rating in a report on Monday, October 21st. Finally, Alliance Global Partners raised their target price 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. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $19.25.

Insider Activity at Alpine Income Property Trust

In other Alpine Income Property Trust news, Director Wein Rachel Elias sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $18.00, for a total value of $36,000.00. Following the completion of the transaction, the director now directly owns 9,492 shares of the company’s stock, valued at approximately $170,856. The trade was a 17.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.74% of the stock is currently owned by insiders.

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.