Alpine Income Property Trust (NYSE:PINE) Releases Earnings Results, Misses Estimates By $0.02 EPS

Key Points

• Alpine Income Property Trust reported Q earnings of $0.06 EPS, missing estimates by $0.02 while revenue beat at $18.41M; the company posted a negative return on equity (−1.00%) and net margin (−4.39%).
• The firm raised its quarterly dividend to $0.30 (annualized $1.20), implying a ~6.1% yield despite an unusually negative dividend payout ratio (−521.74%).
• Analysts are largely bullish with a consensus "Buy" rating and a $20.21 price target; the stock traded up ~2% to $19.61, valuing the company at about $321M.

Alpine Income Property Trust (NYSE:PINE - Get Free Report) announced its earnings results on Thursday. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.08 by ($0.02), FiscalAI reports. Alpine Income Property Trust had a negative return on equity of 1.00% and a negative net margin of 4.39%.The firm had revenue of $18.41 million for the quarter, compared to analyst estimates of $17.62 million.

Alpine Income Property Trust Stock Up 2.0%

Alpine Income Property Trust stock traded up $0.38 during trading hours on Thursday, hitting $19.61. The company had a trading volume of 141,265 shares, compared to its average volume of 175,728. The firm has a market capitalization of $321.28 million, a P/E ratio of -85.27, a price-to-earnings-growth ratio of 1.33 and a beta of 0.58. The company has a debt-to-equity ratio of 1.25, a current ratio of 4.95 and a quick ratio of 4.95. The firm's fifty day moving average is $19.22 and its 200-day moving average is $17.37. Alpine Income Property Trust has a fifty-two week low of $13.10 and a fifty-two week high of $20.80.

Alpine Income Property Trust Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Thursday, March 12th were issued a dividend of $0.30 per share. This is an increase from Alpine Income Property Trust's previous quarterly dividend of $0.29. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.1%. The ex-dividend date was Thursday, March 12th. Alpine Income Property Trust's dividend payout ratio (DPR) is presently -521.74%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PINE. Stifel Nicolaus lifted their target price on shares of Alpine Income Property Trust from $19.00 to $20.50 and gave the company a "buy" rating in a report on Friday, February 6th. Zacks Research upgraded shares of Alpine Income Property Trust from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 20th. B. Riley Financial restated a "buy" rating on shares of Alpine Income Property Trust in a report on Thursday, February 5th. Truist Financial lifted their target price on shares of Alpine Income Property Trust from $18.00 to $21.00 and gave the company a "hold" rating in a report on Wednesday, February 18th. Finally, Raymond James Financial upgraded shares of Alpine Income Property Trust from an "outperform" rating to a "strong-buy" rating and set a $22.00 target price on the stock in a report on Tuesday, March 17th. Three research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $20.21.

Insiders Place Their Bets

In other Alpine Income Property Trust news, Director Andrew C. Richardson sold 2,750 shares of the business's stock in a transaction that occurred on Tuesday, March 31st. The shares were sold at an average price of $18.14, for a total value of $49,885.00. Following the completion of the sale, the director directly owned 16,444 shares of the company's stock, valued at $298,294.16. The trade was a 14.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.60% of the company's stock.

Institutional Trading of Alpine Income Property Trust

Several large investors have recently modified their holdings of the company. Jane Street Group LLC raised its stake in shares of Alpine Income Property Trust by 55.9% in the 1st quarter. Jane Street Group LLC now owns 22,479 shares of the company's stock valued at $376,000 after buying an additional 8,061 shares in the last quarter. Strs Ohio acquired a new stake in shares of Alpine Income Property Trust during the 1st quarter worth about $42,000. Geode Capital Management LLC increased its position in shares of Alpine Income Property Trust by 5.8% during the 2nd 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 in the last quarter. Rhumbline Advisers increased its position in shares of Alpine Income Property Trust by 36.5% during the 2nd quarter. Rhumbline Advisers now owns 28,181 shares of the company's stock worth $415,000 after purchasing an additional 7,529 shares in the last quarter. Finally, Hsbc Holdings PLC increased its position in shares of Alpine Income Property Trust by 42.3% during the 2nd quarter. Hsbc Holdings PLC now owns 27,866 shares of the company's stock worth $412,000 after purchasing an additional 8,278 shares in the last quarter. 60.50% of the stock is owned by institutional investors.

Alpine Income Property Trust Company Profile

Alpine Income Property Trust, Inc is a publicly traded real estate investment trust that specializes in acquiring, owning and managing single-tenant net lease properties. The company focuses on sale-leaseback and build-to-suit transactions with food and beverage companies, targeting facilities that support production, distribution and processing operations. By structuring long-term, triple-net leases, Alpine Income Property Trust seeks to deliver stable, predictable cash flow while allowing tenants to unlock capital from real estate assets and reinvest in their core businesses.

The company’s portfolio is diversified across multiple U.S.

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