Alpine Income Property Trust (NYSE:PINE) Issues FY 2024 Earnings Guidance

Alpine Income Property Trust (NYSE:PINE - Get Free Report) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 1.530-1.580 for the period, compared to the consensus estimate of 1.540. The company issued revenue guidance of -.

Alpine Income Property Trust Stock Up 0.1 %

Shares of PINE traded up $0.01 during trading hours on Thursday, reaching $14.59. The stock had a trading volume of 73,184 shares, compared to its average volume of 53,259. The company has a market capitalization of $198.72 million, a price-to-earnings ratio of 76.74, a P/E/G ratio of 1.60 and a beta of 0.80. The firm has a 50-day simple moving average of $15.47 and a 200 day simple moving average of $15.95. Alpine Income Property Trust has a 12 month low of $14.25 and a 12 month high of $17.72. The company has a current ratio of 2.64, a quick ratio of 2.64 and a debt-to-equity ratio of 1.00.

Alpine Income Property Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were paid a dividend of $0.275 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.10 annualized dividend and a dividend yield of 7.54%. Alpine Income Property Trust's payout ratio is 578.98%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on PINE shares. Alliance Global Partners began coverage on Alpine Income Property Trust in a research report on Thursday, April 11th. They set a buy rating and a $19.00 price target for the company. Jonestrading dropped their target price on Alpine Income Property Trust from $20.00 to $19.00 and set a buy rating on the stock in a report on Monday, February 12th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Alpine Income Property Trust presently has an average rating of Buy and a consensus target price of $19.60.

Institutional Trading of Alpine Income Property Trust

Several large investors have recently added to or reduced their stakes in PINE. PNC Financial Services Group Inc. acquired a new position in shares of Alpine Income Property Trust in the 4th quarter valued at about $26,000. State of Wyoming purchased a new position in Alpine Income Property Trust in the second quarter worth approximately $29,000. JPMorgan Chase & Co. grew its position in Alpine Income Property Trust by 17.5% in the fourth quarter. JPMorgan Chase & Co. now owns 4,275 shares of the company's stock worth $82,000 after acquiring an additional 636 shares during the period. California State Teachers Retirement System purchased a new position in shares of Alpine Income Property Trust during the second quarter worth $70,000. Finally, Rockefeller Capital Management L.P. purchased a new position in shares of Alpine Income Property Trust during the second quarter worth $103,000. Hedge funds and other institutional investors own 60.50% of the company's stock.

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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