Brokers Set Expectations for Alpine Income Property Trust, Inc.’s Q1 2024 Earnings (NYSE:PINE)

Alpine Income Property Trust, Inc. (NYSE:PINE) – Research analysts at B. Riley lowered their Q1 2024 earnings per share estimates for Alpine Income Property Trust in a note issued to investors on Thursday, April 18th. B. Riley analyst J. Massocca now forecasts that the company will post earnings per share of $0.38 for the quarter, down from their prior 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.

Other analysts have also issued research reports about the stock. Stifel Nicolaus cut their price objective on shares of Alpine Income Property Trust from $19.00 to $18.75 and set a “buy” rating on the stock in a research report on Friday. Jonestrading cut their price target 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, Alliance Global Partners began coverage on Alpine Income Property Trust in a report on Thursday, April 11th. They issued a “buy” rating and a $19.00 price objective for the company. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $19.15.

Alpine Income Property Trust Trading Up 2.1 %

NYSE:PINE opened at $14.85 on Friday. The company has a market cap of $202.26 million, a P/E ratio of 78.16, a price-to-earnings-growth ratio of 1.57 and a beta of 0.80. Alpine Income Property Trust has a twelve month low of $14.25 and a twelve month high of $17.72. The business has a 50 day moving average price of $15.45 and a two-hundred day moving average price of $15.93. The company has a quick ratio of 2.64, a current ratio of 2.64 and a debt-to-equity ratio of 1.00.

Alpine Income Property Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were paid 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 7.41%. Alpine Income Property Trust’s dividend payout ratio is presently 578.98%.

Hedge Funds Weigh In On Alpine Income Property Trust

A number of institutional investors have recently bought and sold shares of PINE. PNC Financial Services Group Inc. bought a new position in shares of Alpine Income Property Trust during the 4th quarter worth approximately $26,000. State of Wyoming bought a new position in Alpine Income Property Trust during the second quarter worth $29,000. Tower Research Capital LLC TRC increased its holdings in shares of Alpine Income Property Trust by 312.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,910 shares of the company’s stock valued at $49,000 after purchasing an additional 2,205 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Alpine Income Property Trust by 17.5% in the fourth quarter. JPMorgan Chase & Co. now owns 4,275 shares of the company’s stock valued at $82,000 after purchasing an additional 636 shares during the period. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of Alpine Income Property Trust during the 3rd quarter worth about $70,000. Institutional investors and hedge funds own 60.50% of the company’s stock.

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.