Alpine Income Property Trust, Inc. (NYSE:PINE) Announces $0.28 Quarterly Dividend

Alpine Income Property Trust, Inc. (NYSE:PINE) declared a quarterly dividend on Wednesday, November 20th,Wall Street Journal reports. Stockholders of record on Thursday, December 12th will be paid a dividend of 0.28 per share on Tuesday, December 31st. This represents a $1.12 dividend on an annualized basis and a dividend yield of 6.39%. The ex-dividend date is Thursday, December 12th.

Alpine Income Property Trust has raised its dividend by an average of 17.1% annually over the last three years. Alpine Income Property Trust has a dividend payout ratio of 800.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Alpine Income Property Trust to earn $1.70 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 65.9%.

Alpine Income Property Trust Trading Down 0.9 %

PINE stock traded down $0.16 during mid-day trading on Wednesday, reaching $17.54. The company’s stock had a trading volume of 28,893 shares, compared to its average volume of 59,510. The company has a market cap of $250.30 million, a price-to-earnings ratio of 80.46, a price-to-earnings-growth ratio of 1.73 and a beta of 0.80. Alpine Income Property Trust has a 12 month low of $14.32 and a 12 month high of $19.42. The business’s 50 day moving average price is $17.91 and its 200 day moving average price is $16.95. 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 (NYSE:PINE) last posted its quarterly earnings results on Thursday, October 17th. The company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.19). The firm had revenue of $13.48 million for the quarter, compared to analyst estimates of $12.08 million. Alpine Income Property Trust had a return on equity of 1.23% and a net margin of 6.72%. During the same period last year, the company posted $0.37 earnings per share. On average, equities research analysts predict that Alpine Income Property Trust will post 1.7 EPS for the current year.

Analyst Ratings Changes

PINE has been the topic of several recent analyst reports. Alliance Global Partners lifted their target price on shares of Alpine Income Property Trust from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Robert W. Baird upped their price objective on Alpine Income Property Trust from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Stifel Nicolaus raised their target price on Alpine Income Property Trust from $19.75 to $20.25 and gave the company a “buy” rating in a research report on Monday, October 21st. Raymond James increased their price target 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 Wednesday, August 21st. Finally, UBS Group started coverage on shares of Alpine Income Property Trust in a research report on Monday, October 14th. They issued a “neutral” rating and a $19.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $19.25.

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.