Alpine Income Property Trust, Inc. (NYSE:PINE) Expected to Earn FY2024 Earnings of $1.53 Per Share

Alpine Income Property Trust, Inc. (NYSE:PINE) – B. Riley dropped their FY2024 earnings per share (EPS) estimates for shares of Alpine Income Property Trust in a research report issued to clients and investors on Thursday, April 18th. B. Riley analyst J. Massocca now anticipates that the company will post earnings of $1.53 per share for the year, down from their previous forecast of $1.57. The consensus estimate for Alpine Income Property Trust’s current full-year earnings is $1.56 per share.

Several other research firms have also weighed in on PINE. Alliance Global Partners began coverage on Alpine Income Property Trust in a research note on Thursday, April 11th. They issued a “buy” rating and a $19.00 price objective on the stock. BTIG Research reduced their price objective on Alpine Income Property Trust from $23.00 to $19.00 and set a “buy” rating on the stock in a research note on Monday. Stifel Nicolaus reduced their price objective on Alpine Income Property Trust from $19.00 to $18.75 and set a “buy” rating on the stock in a research note on Friday. Finally, Jonestrading reduced their price objective on Alpine Income Property Trust from $19.00 to $18.00 and set a “buy” rating on the stock in a research note on Friday. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Alpine Income Property Trust has an average rating of “Buy” and a consensus price target of $18.35.

Alpine Income Property Trust Stock Performance

NYSE PINE opened at $15.29 on Monday. The firm has a market capitalization of $208.25 million, a P/E ratio of -382.25, a P/E/G ratio of 1.59 and a beta of 0.80. Alpine Income Property Trust has a 1-year low of $14.25 and a 1-year high of $17.72. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.31 and a quick ratio of 1.31. The business’s 50-day simple moving average is $15.43 and its 200-day simple moving average is $15.92.

Institutional Investors Weigh In On Alpine Income Property Trust

Several hedge funds have recently modified their holdings of the stock. Sound Income Strategies LLC increased its holdings in Alpine Income Property Trust by 13.9% during the 1st quarter. Sound Income Strategies LLC now owns 654,044 shares of the company’s stock worth $9,994,000 after purchasing an additional 79,969 shares during the last quarter. Exchange Traded Concepts LLC increased its holdings in Alpine Income Property Trust by 47.3% during the 4th quarter. Exchange Traded Concepts LLC now owns 73,452 shares of the company’s stock worth $1,242,000 after purchasing an additional 23,595 shares during the last quarter. State of New Jersey Common Pension Fund D increased its holdings in Alpine Income Property Trust by 4.9% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 213,000 shares of the company’s stock worth $3,485,000 after purchasing an additional 10,000 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Alpine Income Property Trust during the 4th quarter worth approximately $117,000. Finally, Bank of New York Mellon Corp increased its holdings in Alpine Income Property Trust by 6.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 111,337 shares of the company’s stock worth $1,821,000 after purchasing an additional 6,756 shares during the last quarter. 60.50% of the stock is currently owned by hedge funds and other institutional investors.

Alpine Income Property Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a dividend of $0.275 per share. The ex-dividend date was Wednesday, March 13th. This represents a $1.10 annualized dividend and a dividend yield of 7.19%. Alpine Income Property Trust’s payout ratio is currently -2,750.00%.

About Alpine Income Property Trust

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.