Alpine Income Property Trust, Inc. (NYSE:PINE) Declares $0.29 Quarterly Dividend

Key Points

• Alpine Income Property Trust, Inc. declared a quarterly dividend of $0.29, with an annual yield of 7.7%, payable to investors of record on September 11th.
• The company has a significantly high payout ratio of 3,800.0%, indicating reliance on its balance sheet for dividend payments rather than earnings.
• As of the latest trading, NYSE:PINE increased by 2.8% to $14.8760, with a market cap of approximately $210.64 million.

Alpine Income Property Trust, Inc. (NYSE:PINE - Get Free Report) announced a quarterly dividend on Tuesday, August 19th, RTT News reports. Stockholders of record on Thursday, September 11th will be given a dividend of 0.285 per share on Tuesday, September 30th. This represents a c) annualized dividend and a dividend yield of 7.5%. The ex-dividend date of this dividend is Thursday, September 11th.

Alpine Income Property Trust has a dividend payout ratio of 3,800.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Alpine Income Property Trust to earn $1.73 per share next year, which means the company should continue to be able to cover its $1.14 annual dividend with an expected future payout ratio of 65.9%.

Alpine Income Property Trust Trading Up 1.4%

Shares of NYSE PINE traded up $0.2050 during trading hours on Friday, reaching $15.1950. The stock had a trading volume of 67,945 shares, compared to its average volume of 79,327. Alpine Income Property Trust has a 52-week low of $13.95 and a 52-week high of $19.42. The firm has a market cap of $215.16 million, a price-to-earnings ratio of -303.90, a P/E/G ratio of 1.44 and a beta of 0.63. The business's fifty day moving average price is $14.60 and its two-hundred day moving average price is $15.43. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.40.

Insider Transactions at Alpine Income Property Trust

In related news, CEO John P. Albright bought 3,500 shares of the business's stock in a transaction on Wednesday, August 6th. The shares were bought at an average price of $14.20 per share, for a total transaction of $49,700.00. Following the completion of the purchase, the chief executive officer directly owned 11,444 shares of the company's stock, valued at approximately $162,504.80. This trade represents a 44.06% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.46% of the stock is owned by company insiders.

Institutional Trading of Alpine Income Property Trust

A number of institutional investors have recently modified their holdings of PINE. Sound Income Strategies LLC grew its position in shares of Alpine Income Property Trust by 10.2% in the 2nd quarter. Sound Income Strategies LLC now owns 1,047,055 shares of the company's stock worth $15,402,000 after buying an additional 96,519 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in Alpine Income Property Trust by 3.7% in the second quarter. Russell Investments Group Ltd. now owns 332,426 shares of the company's stock valued at $4,890,000 after acquiring an additional 11,712 shares in the last quarter. Geode Capital Management LLC grew its holdings in Alpine Income Property Trust by 5.8% in the second quarter. Geode Capital Management LLC now owns 327,734 shares of the company's stock worth $4,822,000 after purchasing an additional 17,947 shares during the last quarter. Gabelli Funds LLC purchased a new position in Alpine Income Property Trust in the second quarter worth $3,621,000. Finally, State of New Jersey Common Pension Fund D increased its position in shares of Alpine Income Property Trust by 2.6% during the first quarter. State of New Jersey Common Pension Fund D now owns 193,703 shares of the company's stock worth $3,239,000 after purchasing an additional 5,000 shares in the last quarter. 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.