Alpine Income Property Trust (NYSE:PINE – Get Free Report) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 1.600-1.640 for the period, compared to the consensus earnings per share estimate of 1.570. The company issued revenue guidance of -.
Wall Street Analysts Forecast Growth
Several brokerages have recently weighed in on PINE. Alliance Global Partners began coverage on Alpine Income Property Trust in a research report on Thursday, April 11th. They issued a buy rating and a $19.00 price target for the company. BTIG Research reduced their price target on Alpine Income Property Trust from $23.00 to $19.00 and set a buy rating for the company in a research report on Monday, April 22nd. Jonestrading reduced their price target on Alpine Income Property Trust from $19.00 to $18.00 and set a buy rating for the company in a research report on Friday, April 19th. Finally, Stifel Nicolaus lifted their price target on Alpine Income Property Trust from $18.00 to $19.25 and gave the company a buy rating in a research report on Friday. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of Buy and a consensus target price of $18.81.
Check Out Our Latest Research Report on Alpine Income Property Trust
Alpine Income Property Trust Price Performance
Alpine Income Property Trust stock opened at $16.80 on Friday. Alpine Income Property Trust has a 52 week low of $14.25 and a 52 week high of $17.72. The business has a 50-day simple moving average of $15.53 and a 200 day simple moving average of $15.55. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 1.00. The stock has a market cap of $228.82 million, a price-to-earnings ratio of -420.00, a PEG ratio of 1.78 and a beta of 0.79.
Alpine Income Property Trust (NYSE:PINE – Get Free Report) last posted its earnings results on Thursday, July 18th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.38). Alpine Income Property Trust had a negative return on equity of 0.20% and a negative net margin of 1.16%. The business had revenue of $12.49 million for the quarter, compared to analysts’ expectations of $12.10 million. During the same quarter in the previous year, the firm earned $0.37 earnings per share. On average, research analysts forecast that Alpine Income Property Trust will post 1.59 earnings per share for the current fiscal year.
Alpine Income Property Trust Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Thursday, June 13th were paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 6.55%. The ex-dividend date of this dividend was Thursday, June 13th. Alpine Income Property Trust’s dividend payout ratio (DPR) is currently -2,750.00%.
Insiders Place Their Bets
In other news, major shareholder Cto Realty Growth, Inc. purchased 6,262 shares of the company’s stock in a transaction on Friday, July 5th. The stock was purchased at an average price of $15.00 per share, with a total value of $93,930.00. Following the completion of the purchase, the insider now directly owns 196,356 shares in the company, valued at approximately $2,945,340. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders bought a total of 21,804 shares of company stock valued at $326,747 over the last 90 days. Insiders own 0.74% of the company’s stock.
Alpine Income Property Trust Company Profile
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.
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