Alpine Income Property Trust, Inc. Declares 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. Stockholders of record on Thursday, June 12th will be paid a dividend of 0.285 per share on Monday, June 30th. This represents a $1.14 annualized dividend and a dividend yield of 7.43%. The ex-dividend date of this dividend is Thursday, June 12th.

Alpine Income Property Trust has increased its dividend payment by an average of 1.2% annually 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. 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 Price Performance

Shares of Alpine Income Property Trust stock traded down $0.01 during trading hours on Friday, hitting $15.34. The company's stock had a trading volume of 57,288 shares, compared to its average volume of 77,135. The business has a 50 day moving average price of $15.66 and a two-hundred day moving average price of $16.42. Alpine Income Property Trust has a 12-month low of $14.51 and a 12-month high of $19.42. The company has a market cap of $218.81 million, a PE ratio of 109.55, a PEG 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.

Institutional Investors Weigh In On Alpine Income Property Trust

An institutional investor recently raised its position in Alpine Income Property Trust stock. Jane Street Group LLC increased its position in Alpine Income Property Trust, Inc. (NYSE:PINE - Free Report) by 55.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,479 shares of the company's stock after buying an additional 8,061 shares during the period. Jane Street Group LLC owned 0.16% of Alpine Income Property Trust worth $376,000 at the end of the most recent quarter. 60.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Industrial Alliance Securities set a $19.00 price objective on Alpine Income Property Trust in a research report on Friday, April 25th. Stifel Nicolaus lowered their price objective on Alpine Income Property Trust from $19.25 to $18.75 and set a "buy" rating on the stock in a research report on Friday, April 25th. UBS Group lowered their price objective on Alpine Income Property Trust from $17.00 to $16.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. Alliance Global Partners restated a "buy" rating on shares of Alpine Income Property Trust in a research report on Friday, April 25th. Finally, Jones Trading lowered 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 report on Friday, April 25th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $18.97.

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.