Alpine Income Property Trust (NYSE:PINE) Posts Quarterly Earnings Results, Misses Estimates By $0.19 EPS

Alpine Income Property Trust (NYSE:PINE) posted its earnings results on Thursday. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.19), Yahoo Finance reports. Alpine Income Property Trust had a negative net margin of 1.16% and a negative return on equity of 0.20%. The firm had revenue of $13.48 million during the quarter, compared to analyst estimates of $12.08 million. During the same period in the previous year, the company posted $0.37 EPS. Alpine Income Property Trust updated its FY 2024 guidance to 1.670-1.690 EPS.

Alpine Income Property Trust Stock Up 4.5 %

NYSE PINE opened at $18.47 on Friday. The business has a fifty day moving average price of $18.04 and a two-hundred day moving average price of $16.50. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.88 and a quick ratio of 0.88. Alpine Income Property Trust has a fifty-two week low of $14.25 and a fifty-two week high of $19.42. The stock has a market capitalization of $251.75 million, a PE ratio of -461.75, a PEG ratio of 1.74 and a beta of 0.80.

Alpine Income Property Trust Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 12th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, September 12th. This is a boost from Alpine Income Property Trust’s previous quarterly dividend of $0.28. This represents a $1.12 annualized dividend and a yield of 6.06%. Alpine Income Property Trust’s dividend payout ratio is presently -2,800.00%.

Analysts Set New Price Targets

Several equities analysts have recently commented on PINE shares. Stifel Nicolaus upped their target price on Alpine Income Property Trust from $18.00 to $19.25 and gave the company a “buy” rating in a research report on Friday, July 19th. B. Riley reaffirmed a “buy” rating and issued a $20.00 target price (up previously from $19.50) on shares of Alpine Income Property Trust in a research report on Wednesday, July 24th. Raymond James upped their target price on Alpine Income Property Trust from $18.00 to $19.00 and gave the company an “outperform” rating in a research report on Wednesday, August 21st. Alliance Global Partners upped their target price on Alpine Income Property Trust from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Friday. Finally, UBS Group began coverage on Alpine Income Property Trust in a research report on Monday, October 14th. They issued a “neutral” rating and a $19.00 target price on the stock. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Alpine Income Property Trust presently has a consensus rating of “Moderate Buy” and an average price target of $19.16.

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.