Alpine Income Property Trust (NYSE:PINE) Issues Earnings Results, Beats Expectations By $0.03 EPS

Key Points

• Alpine Income Property Trust reported earnings of $0.46 per share, beating the consensus estimate of $0.43 by $0.03.
• The company declared a quarterly dividend of $0.285 per share, which represents an annualized yield of 8.2%.
• CEO John P. Albright increased his stake in the company by purchasing 3,500 shares, reflecting a 44.06% increase in his ownership.

Alpine Income Property Trust (NYSE:PINE - Get Free Report) announced its quarterly earnings results on Thursday. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.03, Zacks reports. Alpine Income Property Trust had a negative net margin of 1.24% and a negative return on equity of 0.26%.

Alpine Income Property Trust Stock Up 0.6%

PINE stock traded up $0.08 during trading on Thursday, hitting $13.91. 90,866 shares of the stock traded hands, compared to its average volume of 83,093. The stock has a market cap of $196.92 million, a price-to-earnings ratio of -278.14, a price-to-earnings-growth ratio of 1.30 and a beta of 0.67. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.85 and a quick ratio of 0.85. Alpine Income Property Trust has a 1 year low of $13.10 and a 1 year high of $18.57. The firm's 50 day moving average is $14.45 and its two-hundred day moving average is $14.84.

Alpine Income Property Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Thursday, September 11th were paid a $0.285 dividend. The ex-dividend date was Thursday, September 11th. This represents a $1.14 dividend on an annualized basis and a yield of 8.2%. Alpine Income Property Trust's payout ratio is presently -2,280.00%.

Insider Activity

In other Alpine Income Property Trust news, CEO John P. Albright acquired 3,500 shares of Alpine Income Property Trust stock in a transaction that occurred on Wednesday, August 6th. The stock was bought at an average cost of $14.20 per share, for a total transaction of $49,700.00. Following the acquisition, the chief executive officer owned 11,444 shares of the company's stock, valued at $162,504.80. This represents a 44.06% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.46% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC boosted 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. Qube Research & Technologies Ltd lifted its stake in shares of Alpine Income Property Trust by 43.4% in the 2nd quarter. Qube Research & Technologies Ltd now owns 39,848 shares of the company's stock worth $586,000 after purchasing an additional 12,063 shares during the period. Gamco Investors INC. ET AL purchased a new position in shares of Alpine Income Property Trust in the second quarter worth approximately $467,000. Rhumbline Advisers grew its position in Alpine Income Property Trust by 36.5% during the second quarter. Rhumbline Advisers now owns 28,181 shares of the company's stock valued at $415,000 after buying an additional 7,529 shares during the period. Finally, Hsbc Holdings PLC increased its holdings in Alpine Income Property Trust by 42.3% during the second quarter. Hsbc Holdings PLC now owns 27,866 shares of the company's stock valued at $412,000 after buying an additional 8,278 shares during the last quarter. 60.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Stifel Nicolaus reduced their price target on Alpine Income Property Trust from $18.50 to $17.50 and set a "buy" rating on the stock in a report on Friday, July 25th. UBS Group reduced their target price on Alpine Income Property Trust from $16.00 to $15.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 16th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Alpine Income Property Trust in a research note on Wednesday, October 8th. Jones Trading cut their price target on shares of Alpine Income Property Trust from $20.00 to $19.00 and set a "buy" rating on the stock in a report on Friday, July 25th. Finally, Alliance Global Partners restated a "buy" rating on shares of Alpine Income Property Trust in a report on Friday, July 25th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Alpine Income Property Trust currently has a consensus rating of "Hold" and a consensus price target of $17.63.

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.

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