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

Alpine Income Property Trust, Inc. (NYSE:PINE - Get Free Report) declared a quarterly dividend on Wednesday, May 28th, Wall Street Journal reports. Investors of record on Thursday, June 12th will be given a dividend of 0.285 per share on Monday, June 30th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 7.40%. The ex-dividend date of this dividend is Thursday, June 12th.

Alpine Income Property Trust has increased its dividend by an average of 1.2% per year over the last three years and has raised its dividend annually for the last 3 consecutive years. Alpine Income Property Trust has a payout ratio of 3,800.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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 Stock Performance

Alpine Income Property Trust stock traded up $0.08 during trading hours on Monday, reaching $15.40. 211,853 shares of the stock were exchanged, compared to its average volume of 77,674. Alpine Income Property Trust has a 52-week low of $14.51 and a 52-week high of $19.42. The stock has a market cap of $219.71 million, a P/E ratio of 110.00, a P/E/G ratio of 1.58 and a beta of 0.60. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.94 and a current ratio of 0.94. The firm's 50 day moving average is $15.66 and its 200 day moving average is $16.41.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PINE. Industrial Alliance Securities set a $19.00 price objective on shares of Alpine Income Property Trust in a research note on Friday, April 25th. UBS Group dropped their price target on Alpine Income Property Trust from $17.00 to $16.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. Alliance Global Partners reissued a "buy" rating on shares of Alpine Income Property Trust in a report on Friday, April 25th. Jones Trading decreased their price objective on Alpine Income Property Trust from $22.00 to $20.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Finally, Stifel Nicolaus dropped their price objective on Alpine Income Property Trust from $19.25 to $18.75 and set a "buy" rating for the company in a research report on Friday, April 25th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $18.97.

Institutional Investors Weigh In On Alpine Income Property Trust

A hedge fund recently bought a new stake in Alpine Income Property Trust stock. Strs Ohio acquired a new stake in Alpine Income Property Trust, Inc. (NYSE:PINE - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,500 shares of the company's stock, valued at approximately $42,000. Hedge funds and other institutional investors own 60.50% 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.