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

Alpine Income Property Trust, Inc. (NYSE:PINE) declared a quarterly dividend on Thursday, February 6th, Wall Street Journal reports. Investors 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 dividend on an annualized basis and a yield of 6.96%. The ex-dividend date of this dividend is Thursday, March 13th. This is a 1.8% increase from Alpine Income Property Trust’s previous quarterly dividend of $0.28.

Alpine Income Property Trust has a dividend payout ratio of 950.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 Performance

NYSE PINE opened at $16.39 on Tuesday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.94 and a quick ratio of 0.94. The firm has a market capitalization of $240.80 million, a price-to-earnings ratio of 117.07, a P/E/G ratio of 1.58 and a beta of 0.82. The company’s fifty day moving average is $16.63 and its two-hundred day moving average is $17.41. Alpine Income Property Trust has a 52-week low of $14.33 and a 52-week high of $19.42.

Alpine Income Property Trust (NYSE:PINE) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates 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%. Equities research analysts forecast that Alpine Income Property Trust will post 1.74 EPS for the current year.

Insider Transactions at Alpine Income Property Trust

In related news, Director Andrew C. Richardson sold 2,000 shares of Alpine Income Property Trust stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $16.64, for a total transaction of $33,280.00. Following the completion of the transaction, the director now directly owns 17,143 shares of the company’s stock, valued at $285,259.52. This trade represents a 10.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.74% of the stock is owned by insiders.

Alpine Income Property Trust Company Profile

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.