Alpine Income Property Trust, Inc. to Post Q1 2024 Earnings of $0.38 Per Share, B. Riley Forecasts (NYSE:PINE)

Alpine Income Property Trust, Inc. (NYSE:PINE) – Research analysts at B. Riley reduced their Q1 2024 earnings per share (EPS) estimates for Alpine Income Property Trust in a report issued on Thursday, April 18th. B. Riley analyst J. Massocca now anticipates that the company will post earnings per share of $0.38 for the quarter, down from their previous estimate of $0.39. The consensus estimate for Alpine Income Property Trust’s current full-year earnings is $1.55 per share. B. Riley also issued estimates for Alpine Income Property Trust’s Q2 2024 earnings at $0.38 EPS, Q3 2024 earnings at $0.38 EPS, Q4 2024 earnings at $0.39 EPS, Q1 2025 earnings at $0.40 EPS, Q2 2025 earnings at $0.40 EPS, Q3 2025 earnings at $0.39 EPS, Q4 2025 earnings at $0.40 EPS and FY2025 earnings at $1.59 EPS.

PINE has been the topic of a number of other reports. 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 target price on the stock. Jonestrading cut their price objective on shares of Alpine Income Property Trust from $19.00 to $18.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Stifel Nicolaus reduced their price objective on shares of Alpine Income Property Trust from $19.00 to $18.75 and set a “buy” rating for the company in a research note on Friday. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Alpine Income Property Trust presently has an average rating of “Buy” and an average target price of $19.15.

Alpine Income Property Trust Stock Up 2.1 %

Shares of Alpine Income Property Trust stock opened at $14.85 on Friday. Alpine Income Property Trust has a 1 year low of $14.25 and a 1 year high of $17.72. The firm has a market cap of $202.26 million, a price-to-earnings ratio of 78.16, a PEG ratio of 1.57 and a beta of 0.80. The company has a 50-day moving average of $15.45 and a 200 day moving average of $15.93. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.64 and a quick ratio of 2.64.

Alpine Income Property Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 7.41%. The ex-dividend date of this dividend was Wednesday, March 13th. Alpine Income Property Trust’s payout ratio is currently 578.98%.

Institutional Investors Weigh In On Alpine Income Property Trust

Large investors have recently bought and sold shares of the business. Sound Income Strategies LLC grew its position in Alpine Income Property Trust by 7.6% in the 4th quarter. Sound Income Strategies LLC now owns 574,075 shares of the company’s stock worth $9,708,000 after purchasing an additional 40,536 shares during the period. Exchange Traded Concepts LLC grew its holdings in shares of Alpine Income Property Trust by 47.3% in the fourth quarter. Exchange Traded Concepts LLC now owns 73,452 shares of the company’s stock worth $1,242,000 after acquiring an additional 23,595 shares during the period. Penserra Capital Management LLC grew its holdings in shares of Alpine Income Property Trust by 14.4% in the third quarter. Penserra Capital Management LLC now owns 29,426 shares of the company’s stock worth $481,000 after acquiring an additional 3,710 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in Alpine Income Property Trust during the third quarter valued at $70,000. Finally, State of New Jersey Common Pension Fund D lifted its holdings in Alpine Income Property Trust by 4.9% in the third quarter. State of New Jersey Common Pension Fund D now owns 213,000 shares of the company’s stock valued at $3,485,000 after acquiring an additional 10,000 shares during the period. 60.50% of the stock is currently owned by institutional investors.

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.