Alpine Income Property Trust, Inc. (NYSE:PINE) Plans Quarterly Dividend of $0.28

Alpine Income Property Trust, Inc. (NYSE:PINEGet Rating) announced a quarterly dividend on Tuesday, November 22nd, Zacks reports. Stockholders of record on Monday, December 12th will be paid a dividend of 0.275 per share on Friday, December 30th. This represents a $1.10 annualized dividend and a dividend yield of 5.90%. The ex-dividend date is Friday, December 9th.

Alpine Income Property Trust has a dividend payout ratio of 720.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Alpine Income Property Trust to earn $1.64 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 65.9%.

Alpine Income Property Trust Price Performance

Shares of PINE opened at $18.65 on Wednesday. The company has a current ratio of 3.39, a quick ratio of 3.39 and a debt-to-equity ratio of 1.07. The stock’s 50 day moving average is $17.45 and its two-hundred day moving average is $17.93. The firm has a market capitalization of $222.12 million, a PE ratio of 7.55, a P/E/G ratio of 1.78 and a beta of 0.83. Alpine Income Property Trust has a twelve month low of $15.41 and a twelve month high of $21.07.

Insider Transactions at Alpine Income Property Trust

In related news, major shareholder Cto Realty Growth, Inc. acquired 1,580 shares of the firm’s stock in a transaction that occurred on Monday, October 24th. The shares were acquired at an average price of $17.74 per share, with a total value of $28,029.20. Following the completion of the purchase, the insider now directly owns 43,840 shares in the company, valued at $777,721.60. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders purchased a total of 29,600 shares of company stock valued at $494,426 over the last three months. 0.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Royal Bank of Canada boosted its position in shares of Alpine Income Property Trust by 5.2% in the third quarter. Royal Bank of Canada now owns 11,396 shares of the company’s stock worth $185,000 after acquiring an additional 565 shares during the last quarter. UBS Group AG boosted its holdings in shares of Alpine Income Property Trust by 3.0% in the 1st quarter. UBS Group AG now owns 24,253 shares of the company’s stock valued at $455,000 after purchasing an additional 703 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Alpine Income Property Trust by 1.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 61,910 shares of the company’s stock valued at $1,005,000 after buying an additional 738 shares during the period. Guardian Wealth Management Inc. increased its holdings in shares of Alpine Income Property Trust by 12.4% during the 1st quarter. Guardian Wealth Management Inc. now owns 9,537 shares of the company’s stock worth $179,000 after buying an additional 1,051 shares during the last quarter. Finally, State Street Corp raised its position in shares of Alpine Income Property Trust by 3.7% in the 1st quarter. State Street Corp now owns 38,466 shares of the company’s stock worth $723,000 after buying an additional 1,379 shares during the period. 55.57% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PINE. Raymond James reduced their price objective on shares of Alpine Income Property Trust from $21.00 to $20.00 and set an “outperform” rating for the company in a research note on Tuesday, October 4th. Jonestrading reduced their price objective on Alpine Income Property Trust from $23.00 to $22.00 and set a “buy” rating for the company in a report on Tuesday, October 25th. TheStreet raised Alpine Income Property Trust from a “c-” rating to a “b-” rating in a report on Monday. Finally, B. Riley dropped their price target on Alpine Income Property Trust from $23.00 to $21.00 and set a “buy” rating for the company in a research report on Tuesday, October 25th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Alpine Income Property Trust currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.75.

About Alpine Income Property Trust

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Alpine Income Property Trust, Inc (NYSE: PINE) is a publicly traded real estate investment trust that acquires, owns and operates a portfolio of high-quality single-tenant net leased commercial income properties.

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Dividend History for Alpine Income Property Trust (NYSE:PINE)

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