Alpine Income Property Trust, Inc. (NYSE:PINE) Increases Dividend to $0.29 Per Share

Alpine Income Property Trust, Inc. (NYSE:PINE - Get Free Report) declared a quarterly dividend on Thursday, February 6th,Wall Street Journal reports. Shareholders of record on Thursday, March 13th will be paid a dividend of 0.285 per share on Monday, March 31st. This represents a $1.14 annualized dividend and a yield of 7.09%. 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 payment by an average of 1.2% annually over the last three years. Alpine Income Property Trust has a dividend payout ratio of 1,140.0% 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 $1.76 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 64.8%.

Alpine Income Property Trust Price Performance

NYSE:PINE traded up $0.04 during trading hours on Tuesday, hitting $16.07. 102,419 shares of the stock traded hands, compared to its average volume of 98,097. The company has a quick ratio of 3.85, a current ratio of 3.85 and a debt-to-equity ratio of 1.03. Alpine Income Property Trust has a 1 year low of $14.32 and a 1 year high of $19.42. The company has a market cap of $229.30 million, a price-to-earnings ratio of 114.78, a price-to-earnings-growth ratio of 1.61 and a beta of 0.80. The stock has a 50 day moving average price of $16.84 and a 200 day moving average price of $17.51.

Alpine Income Property Trust (NYSE:PINE - Get Free Report) last issued its quarterly earnings results 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 net margin of 3.96% and a return on equity of 0.76%. Sell-side analysts forecast that Alpine Income Property Trust will post 1.78 EPS for the current fiscal year.

Insider Buying and Selling at Alpine Income Property Trust

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

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Robert W. Baird boosted their target price on shares of Alpine Income Property Trust from $18.00 to $19.00 and gave the stock an "outperform" rating in a report on Monday, October 21st. UBS Group assumed coverage on shares of Alpine Income Property Trust in a research note on Monday, October 14th. They set a "neutral" rating and a $19.00 price target on the stock. Stifel Nicolaus upped their price target on shares of Alpine Income Property Trust from $19.75 to $20.25 and gave the company a "buy" rating in a research note on Monday, October 21st. Finally, Alliance Global Partners upped their price target on shares of Alpine Income Property Trust from $20.00 to $21.00 and gave the company a "buy" rating in a research note on Friday, October 18th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $19.25.

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.