Alpine Income Property Trust, Inc. (PINE) To Go Ex-Dividend on June 13th

Alpine Income Property Trust, Inc. (NYSE:PINEGet Free Report) announced a quarterly dividend on Tuesday, May 28th, Zacks reports. Shareholders of record on Thursday, June 13th will be paid a dividend of 0.275 per share on Friday, June 28th. This represents a $1.10 annualized dividend and a yield of 7.15%. The ex-dividend date of this dividend is Thursday, June 13th.

Alpine Income Property Trust has increased its dividend payment by an average of 17.1% annually over the last three years and has raised its dividend annually for the last 1 consecutive years. Alpine Income Property Trust has a payout ratio of -916.7% 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 $1.60 per share next year, which means the company should continue to be able to cover its $1.10 annual dividend with an expected future payout ratio of 68.8%.

Alpine Income Property Trust Price Performance

Shares of NYSE:PINE opened at $15.39 on Tuesday. Alpine Income Property Trust has a 1-year low of $14.25 and a 1-year high of $17.72. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.31 and a quick ratio of 1.31. The business has a 50-day moving average price of $15.30 and a two-hundred day moving average price of $15.81.

Analysts Set New Price Targets

Several brokerages have weighed in on PINE. BTIG Research dropped their price objective on Alpine Income Property Trust from $23.00 to $19.00 and set a “buy” rating for the company in a report on Monday, April 22nd. Stifel Nicolaus dropped their price objective on Alpine Income Property Trust from $19.00 to $18.75 and set a “buy” rating for the company in a report on Friday, April 19th. Jonestrading lowered their price target on Alpine Income Property Trust from $19.00 to $18.00 and set a “buy” rating for the company in a research note on Friday, April 19th. Finally, Alliance Global Partners started coverage on Alpine Income Property Trust in a research note on Thursday, April 11th. They issued a “buy” rating and a $19.00 price target for the company. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Alpine Income Property Trust has a consensus rating of “Buy” and an average price target of $18.69.

Read Our Latest Report on PINE

Alpine Income Property Trust Company Profile

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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.

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

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