Alpine Income Property Trust (NYSE:PINE) Issues Earnings Results

Alpine Income Property Trust (NYSE:PINE) issued its quarterly earnings data on Thursday. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.02), FiscalAI reports. The company had revenue of $18.41 million for the quarter, compared to the consensus estimate of $17.62 million. Alpine Income Property Trust had a negative return on equity of 1.00% and a negative net margin of 4.39%.

Alpine Income Property Trust Price Performance

Shares of NYSE PINE traded up $0.38 during midday trading on Thursday, hitting $19.61. 141,265 shares of the company’s stock were exchanged, compared to its average volume of 175,728. The company has a market cap of $321.28 million, a price-to-earnings ratio of -85.27, a PEG ratio of 1.33 and a beta of 0.58. The business’s fifty day moving average price is $19.22 and its two-hundred day moving average price is $17.37. The company has a current ratio of 4.95, a quick ratio of 4.95 and a debt-to-equity ratio of 1.25. Alpine Income Property Trust has a 12-month low of $13.10 and a 12-month high of $20.80.

Alpine Income Property Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Thursday, March 12th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, March 12th. This is a positive change from Alpine Income Property Trust’s previous quarterly dividend of $0.29. This represents a $1.20 annualized dividend and a dividend yield of 6.1%. Alpine Income Property Trust’s payout ratio is presently -521.74%.

Analyst Ratings Changes

PINE has been the topic of several research analyst reports. Wall Street Zen upgraded shares of Alpine Income Property Trust from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Truist Financial boosted their target price on shares of Alpine Income Property Trust from $18.00 to $21.00 and gave the stock a “hold” rating in a report on Wednesday, February 18th. Raymond James Financial upgraded shares of Alpine Income Property Trust from an “outperform” rating to a “strong-buy” rating and set a $22.00 price objective on the stock in a report on Tuesday, March 17th. iA Financial set a $21.00 price target on shares of Alpine Income Property Trust in a research note on Friday, February 6th. Finally, B. Riley Financial reaffirmed a “buy” rating on shares of Alpine Income Property Trust in a research report on Thursday, February 5th. Three equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Alpine Income Property Trust has a consensus rating of “Buy” and a consensus price target of $20.21.

Insider Transactions at Alpine Income Property Trust

In other news, Director Andrew C. Richardson sold 2,750 shares of the stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $18.14, for a total transaction of $49,885.00. Following the completion of the sale, the director owned 16,444 shares of the company’s stock, valued at approximately $298,294.16. This represents a 14.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Alpine Income Property Trust

Hedge funds and other institutional investors have recently made changes to their positions in the business. Wells Fargo & Company MN raised its holdings in Alpine Income Property Trust by 70.1% in the fourth quarter. Wells Fargo & Company MN now owns 16,491 shares of the company’s stock worth $276,000 after purchasing an additional 6,796 shares in the last quarter. Martingale Asset Management L P grew its stake in shares of Alpine Income Property Trust by 3.2% in the fourth quarter. Martingale Asset Management L P now owns 16,217 shares of the company’s stock worth $271,000 after acquiring an additional 500 shares during the last quarter. Jump Financial LLC purchased a new stake in shares of Alpine Income Property Trust in the fourth quarter worth $241,000. Ameriprise Financial Inc. grew its stake in shares of Alpine Income Property Trust by 13.1% in the second quarter. Ameriprise Financial Inc. now owns 15,620 shares of the company’s stock worth $230,000 after acquiring an additional 1,810 shares during the last quarter. Finally, Osaic Holdings Inc. grew its stake in shares of Alpine Income Property Trust by 3,481.5% in the fourth quarter. Osaic Holdings Inc. now owns 13,001 shares of the company’s stock worth $217,000 after acquiring an additional 12,638 shares during the last quarter. Institutional investors own 60.50% of the company’s stock.

Alpine Income Property Trust Company Profile

Alpine Income Property Trust, Inc is a publicly traded real estate investment trust that specializes in acquiring, owning and managing single-tenant net lease properties. The company focuses on sale-leaseback and build-to-suit transactions with food and beverage companies, targeting facilities that support production, distribution and processing operations. By structuring long-term, triple-net leases, Alpine Income Property Trust seeks to deliver stable, predictable cash flow while allowing tenants to unlock capital from real estate assets and reinvest in their core businesses.

The company’s portfolio is diversified across multiple U.S.