Alpine Income Property Trust, Inc. (NYSE:PINE) Plans Dividend Increase – $0.29 Per Share

Alpine Income Property Trust, Inc. (NYSE:PINE) declared a quarterly dividend on Friday, February 7th,Wall Street Journal reports. Stockholders of record on Thursday, March 13th will be given a dividend of 0.285 per share on Monday, March 31st. This represents a $1.14 annualized dividend and a dividend yield of 7.04%. The ex-dividend date is Thursday, March 13th. This is a positive change from Alpine Income Property Trust’s previous quarterly dividend of $0.28.

Alpine Income Property Trust has raised its dividend by an average of 5.5% annually over the last three years. Alpine Income Property Trust has a payout ratio of 933.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Alpine Income Property Trust to earn $1.78 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 62.9%.

Alpine Income Property Trust Stock Performance

NYSE PINE traded down $1.00 on Friday, hitting $16.20. 198,687 shares of the stock traded hands, compared to its average volume of 93,230. The business’s fifty day moving average is $16.90 and its two-hundred day moving average is $17.52. Alpine Income Property Trust has a 12 month low of $14.32 and a 12 month high of $19.42. The firm has a market capitalization of $231.17 million, a price-to-earnings ratio of 73.53, a PEG ratio of 1.58 and a beta of 0.80. The company has a debt-to-equity ratio of 1.03, a quick ratio of 3.85 and a current ratio of 3.85.

Alpine Income Property Trust (NYSE:PINE) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.40. Alpine Income Property Trust had a return on equity of 1.23% and a net margin of 6.72%. As a group, equities analysts anticipate that Alpine Income Property Trust will post 1.7 EPS for the current fiscal year.

Analyst Ratings Changes

PINE has been the subject of several research reports. Stifel Nicolaus increased their price objective on Alpine Income Property Trust from $19.75 to $20.25 and gave the company a “buy” rating in a report on Monday, October 21st. Robert W. Baird increased their price objective on Alpine Income Property Trust from $18.00 to $19.00 and gave the company an “outperform” rating in a report on Monday, October 21st. UBS Group assumed coverage on Alpine Income Property Trust in a report on Monday, October 14th. They issued a “neutral” rating and a $19.00 price target for the company. Finally, Alliance Global Partners raised their price target on Alpine Income Property Trust from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Alpine Income Property Trust presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.25.

Insider Transactions at Alpine Income Property Trust

In related news, Director Wein Rachel Elias sold 2,000 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $18.00, for a total value of $36,000.00. Following the sale, the director now owns 9,492 shares in the company, valued at approximately $170,856. This trade represents a 17.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.74% 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.