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

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

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Stifel Nicolaus lowered their price target on shares of Alpine Income Property Trust from $19.00 to $18.75 and set a buy rating for the company in a report on Friday. Alliance Global Partners assumed coverage on shares of Alpine Income Property Trust in a report on Thursday, April 11th. They set a buy rating and a $19.00 price target for the company. Finally, Jonestrading lowered their price target on shares of Alpine Income Property Trust from $19.00 to $18.00 and set a buy rating for the company in a report on Friday. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of Buy and an average price target of $19.15.

Alpine Income Property Trust Price Performance

PINE opened at $14.85 on Friday. The company’s 50 day simple moving average is $15.45 and its 200 day simple moving average is $15.93. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.64 and a quick ratio of 2.64. Alpine Income Property Trust has a 1 year low of $14.25 and a 1 year high of $17.72.

Alpine Income Property Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were given a $0.275 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $1.10 annualized dividend and a dividend yield of 7.41%. Alpine Income Property Trust’s dividend payout ratio is presently -2,750.00%.

Institutional Investors Weigh In On Alpine Income Property Trust

Several hedge funds have recently modified their holdings of the stock. BlackRock Inc. boosted its position in shares of Alpine Income Property Trust by 359.8% in the second quarter. BlackRock Inc. now owns 830,771 shares of the company’s stock worth $13,500,000 after acquiring an additional 650,088 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Alpine Income Property Trust by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 749,041 shares of the company’s stock worth $12,666,000 after acquiring an additional 17,659 shares during the last quarter. Ancora Advisors LLC lifted its position in Alpine Income Property Trust by 34.9% during the first quarter. Ancora Advisors LLC now owns 433,370 shares of the company’s stock valued at $7,294,000 after buying an additional 112,000 shares in the last quarter. Geode Capital Management LLC lifted its position in Alpine Income Property Trust by 143.2% during the second quarter. Geode Capital Management LLC now owns 287,583 shares of the company’s stock valued at $4,673,000 after buying an additional 169,341 shares in the last quarter. Finally, Two Sigma Investments LP lifted its position in Alpine Income Property Trust by 338.0% during the fourth quarter. Two Sigma Investments LP now owns 193,711 shares of the company’s stock valued at $3,696,000 after buying an additional 149,482 shares in the last quarter. 60.50% of the stock is owned by institutional investors and hedge funds.

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.