$Alpine Income Property Trust (PINE.US)$After listing in 201...
$Alpine Income Property Trust(PINE.US$After listing in 2019, revenue continued to grow for 4 years after listing, with an average growth rate of 40%. Operating profit shrank in the first two years, then increased sharply in the next two years, with an average growth rate of 27% and an average net profit growth rate of 65%.
Revenue increased by 2.4% in the first two quarters of 2023, operating profit shrank sharply by 32.4%, mainly due to rapid increase in expenses, and net profit shrank sharply by 77.5%.
Of the total assets of 570 million, 460 million are real estate, and 50 million are intangible assets. Total debt was 260 million. Total assets excluding intangible assets and total liabilities are 260 million dollars. The current market value is 230 million yuan, which is slightly discounted.
Currently, the price-earnings ratio is 7.6, the price-earnings ratio TTM is 12.9, and the dividend rate is 6.7%. Considering that revenue growth in the past 4 quarters has clearly shown signs of slowing and stagnation, expenses have increased too fast, we will observe for now.
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