Alpine Income Property Trust (PINE) Declares $0.28 Dividend
Alpine Income Property Trust said on May 22, 2023 that its board of directors declared a regular quarterly dividend of $0.28 per share ($1.10 annualized). Previously, the company paid $0.28 per share.
Shares must be purchased before the ex-div date of June 7, 2023 to qualify for the dividend. Shareholders of record as of June 8, 2023 will receive the payment on June 30, 2023.
At the current share price of $15.83 / share, the stock's dividend yield is 6.95%.
Looking back five years and taking a sample every week, the average dividend yield has been 5.71%, the lowest has been 4.15%, and the highest has been 9.08%. The standard deviation of yields is 0.72 (n=165).
The current dividend yield is 1.72 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.48. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.38%, demonstrating that it has increased its dividend over time.
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What is the Fund Sentiment?
There are 129 funds or institutions reporting positions in Alpine Income Property Trust. This is unchanged over the last quarter. Average portfolio weight of all funds dedicated to PINE is 0.27%, an increase of 4.39%. Total shares owned by institutions increased in the last three months by 11.93% to 10,117K shares. 
The put/call ratio of PINE is 1.55, indicating a bearish outlook.
Analyst Price Forecast Suggests 33.88% Upside
As of May 11, 2023, the average one-year price target for Alpine Income Property Trust is 21.19. The forecasts range from a low of 19.19 to a high of $25.20. The average price target represents an increase of 33.88% from its latest reported closing price of 15.83.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Alpine Income Property Trust is 51MM, an increase of 11.20%. The projected annual non-GAAP EPS is -0.30.
What are Other Shareholders Doing?
Goff John C holds 535K shares representing 3.80% ownership of the company. No change in the last quarter.
Sound Income Strategies holds 443K shares representing 3.15% ownership of the company.
Ancora Advisors holds 433K shares representing 3.08% ownership of the company. In it's prior filing, the firm reported owning 321K shares, representing an increase of 25.84%. The firm decreased its portfolio allocation in PINE by 24.86% over the last quarter.
Heartland Advisors holds 400K shares representing 2.84% ownership of the company. In it's prior filing, the firm reported owning 300K shares, representing an increase of 25.00%. The firm increased its portfolio allocation in PINE by 14.73% over the last quarter.
HRTVX - HEARTLAND VALUE FUND Investor Class holds 400K shares representing 2.84% ownership of the company. In it's prior filing, the firm reported owning 300K shares, representing an increase of 25.00%. The firm increased its portfolio allocation in PINE by 15.76% over the last quarter.
Alpine Income Property Trust Background Information
(This description is provided by the company.)
Alpine Income Property Trust, Inc. is a real estate investment trust that acquires, owns and operates a portfolio of high-quality single-tenant net leased commercial income properties.
Key filings for this company:
This story originally appeared on Fintel.