Alpine Income Property Trust, Inc. (NYSE:PINE) to Issue Quarterly Dividend of $0.29

Alpine Income Property Trust, Inc. (NYSE:PINE) announced a quarterly dividend on Wednesday, May 28th, Wall Street Journal reports. Investors of record on Thursday, June 12th will be given a dividend of 0.285 per share on Monday, June 30th. This represents a $1.14 annualized dividend and a dividend yield of 7.44%. The ex-dividend date is Thursday, June 12th.

Alpine Income Property Trust has increased its dividend payment by an average of 1.2% per year over the last three years and has increased 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. Research 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 Stock Up 0.9%

PINE stock opened at $15.32 on Friday. Alpine Income Property Trust has a twelve month low of $14.51 and a twelve month high of $19.42. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.09. The company has a market cap of $218.57 million, a PE ratio of 109.43, a price-to-earnings-growth ratio of 1.58 and a beta of 0.60. The business’s 50-day simple moving average is $15.68 and its 200 day simple moving average is $16.45.

Institutional Trading of Alpine Income Property Trust

A hedge fund recently raised its stake in Alpine Income Property Trust stock. Jane Street Group LLC boosted its stake in shares of Alpine Income Property Trust, Inc. (NYSE:PINE) by 55.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,479 shares of the company’s stock after acquiring an additional 8,061 shares during the quarter. Jane Street Group LLC owned 0.16% of Alpine Income Property Trust worth $376,000 as of its most recent SEC filing. Institutional investors own 60.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on PINE shares. UBS Group reduced their price objective on Alpine Income Property Trust from $17.00 to $16.00 and set a “neutral” rating for the company in a research report on Tuesday, May 13th. Alliance Global Partners reaffirmed a “buy” rating on shares of Alpine Income Property Trust in a research report on Friday, April 25th. Stifel Nicolaus decreased their price target on shares of Alpine Income Property Trust from $19.25 to $18.75 and set a “buy” rating on the stock in a research note on Friday, April 25th. Jones Trading dropped their price objective on shares of Alpine Income Property Trust from $22.00 to $20.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Finally, Industrial Alliance Securities set a $19.00 price objective on shares of Alpine Income Property Trust in a report on Friday, April 25th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently 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.