Last Updated: 19 Sep 2024
Executive Summary
Alpine Income Property Trust Inc. (PINE) is a real estate investment trust (REIT) that invests in single-tenant net lease properties. The company's portfolio consists of over 120 properties located in the United States and Canada. PINE has a market capitalization of $274.1 million and trades on the NYSE.
The company's financial performance has been mixed in recent quarters. Revenue has grown slightly, but earnings per share have declined. PINE's dividend yield is currently 6.07%, which is attractive compared to the yield on the 10-year Treasury note.
Analysts are generally positive on PINE. The consensus analyst rating is "Buy" and the average analyst target price is $19.10.
Company Overview
Alpine Income Property Trust Inc. was founded in 2004 and is headquartered in Daytona Beach, Florida. The company invests in single-tenant net lease properties, which are properties that are leased to a single tenant for a long period of time. PINE's tenants are typically creditworthy companies with strong financial performance.
The company's portfolio is diversified across a variety of property types, including retail, office, industrial, and healthcare. PINE's properties are located in 30 states and Canada.
Fundamental Analysis
PINE's financial performance has been mixed in recent quarters. Revenue has grown slightly, but earnings per share have declined. The company's revenue for the first six months of 2024 was $48.1 million, up from $48.0 million in the same period last year. However, the company's net income for the first six months of 2024 was $1.6 million, down from $2.1 million in the same period last year.
PINE's dividend yield is currently 6.07%, which is attractive compared to the yield on the 10-year Treasury note. The company has a history of paying dividends, and has increased its dividend payout in each of the past five years.
Technical Analysis
PINE's stock price has been trading in a range between $13.33 and $19.13 over the past 52 weeks. The stock is currently trading at $18.45, which is near the middle of its 52-week range.
The stock's technical indicators are mixed. The relative strength index (RSI) is currently at 50, which is neutral. The moving average convergence divergence (MACD) is currently below the signal line, which is a bearish sign.
Short Term Outlook
PINE's stock price is likely to continue to trade in a range in the near term. The stock's technical indicators are mixed, and the company's financial performance has been mixed in recent quarters.
Long Term Outlook
PINE's long-term outlook is positive. The company's portfolio is diversified across a variety of property types and locations. The company also has a history of paying dividends and increasing its dividend payout.
Analyst Recommendations
Analysts are generally positive on PINE. The consensus analyst rating is "Buy" and the average analyst target price is $19.10.
