Welcome to our dedicated page for Alpine Income Property Trust news (Ticker: PINE), a resource for investors and traders seeking the latest updates and insights on Alpine Income Property Trust stock.
Alpine Income Property Trust, Inc. (NYSE: PINE) is a publicly traded real estate investment trust (REIT) that focuses on acquiring, owning, and managing a diversified portfolio of high-quality single-tenant net leased commercial income properties across the United States. As a REIT, Alpine Income Property Trust leverages its strategic investments in single-tenant retail and office properties to generate consistent rental revenue, primarily through long-term leases.
The company boasts an impressive portfolio encompassing 138 net leased properties situated in 104 markets across 35 states. These properties are strategically located in metropolitan statistical areas (MSAs), growth markets, and other high-demand regions, ensuring steady and robust income streams. Alpine Income Property Trust's portfolio provides a balanced mix of properties, contributing to its financial stability and growth.
Recent achievements include the company's announcement to report its financial and operating results for the fourth quarter and full year 2023 on February 8, 2024. Following this, a conference call is scheduled for February 9, 2024, to discuss these results in detail.
Alpine Income Property Trust's revenue model is largely driven by rental income derived from its ownership and leasing activities. The firm's disciplined acquisition strategy focuses on properties with long-term, net leases to high-quality tenants, contributing to a reliable and predictable revenue stream. The company also places emphasis on maintaining a diversified tenant base to mitigate risk.
The trust is committed to sustaining its growth through strategic property dispositions and acquisitions, ensuring that its portfolio remains aligned with market demands and opportunities. Additionally, Alpine Income Property Trust pays regular dividends to its shareholders, reflecting its solid financial health and commitment to return value.
For investors seeking a stable and income-generating real estate investment, Alpine Income Property Trust, Inc. represents a robust option. With a focus on high-quality, single-tenant properties and a strategic presence in key markets, the company continues to reinforce its position in the commercial real estate sector.
Alpine Income Property Trust (NYSE: PINE) reported its Q2 2024 operating results, highlighting strong performance and growth. Key points include:
- Net Income per diluted share of $0.01
- FFO and AFFO per diluted share of $0.43, up 16.2% year-over-year
- Acquired a $14.6M net lease retail property with 100% investment-grade tenants
- Sold two properties for $6.6M, generating $0.9M in gains
- Originated a $6.1M first mortgage construction loan at 11.5% yield
- Increased full-year FFO guidance to $1.58-$1.62 per share and AFFO guidance to $1.60-$1.64 per share
The company's property portfolio consists of 137 properties across 34 states, with 67% of annualized base rent from investment-grade tenants. PINE's top tenants include Walgreens, Dick's Sporting Goods, and Lowe's.
Alpine Income Property Trust (NYSE: PINE) announced it will release its Q2 2024 financial and operating results after market close on July 18, 2024. A conference call to discuss these results will be held at 9:00 AM ET on July 19, 2024. The call will be webcast live and accessible through the Investor Relations page on the company's website. Participants are encouraged to register and dial in at least fifteen minutes before the start time. A replay will be available online post-call.
Alpine Income Property Trust is a real estate investment trust focusing on single-tenant net leased properties leased to high-quality, publicly traded, and credit-rated tenants.
Alpine Income Property Trust (NYSE: PINE) reported its 2024 year-to-date transaction activities. During Q2, the company acquired a two-tenant net leased retail property for $14.6 million, fully leased to Best Buy and Golf Galaxy, with an average lease term of 4.6 years. Additionally, Alpine originated a 15-month first mortgage investment of $6.1 million at an 11.5% initial yield. Cumulatively, year-to-date investment activity totaled $28.9 million at a 9.85% yield. On the disposition side, Alpine sold two properties for $6.6 million, realizing gains of $0.9 million. Including the previously disclosed $13.6 million sale of a portfolio loan participation, total sales amounted to $20.2 million at a 7.69% yield.
Alpine Income Property Trust (NYSE: PINE) announced the sale of a $13.6 million A-1 participation interest in its $23.4 million loan investment secured by 39 retail properties. The Portfolio Loan, originally $24 million at an 8.75% interest rate, was reduced following the sale of two properties. The Company retained approximately $9.8 million at an interest rate of 9.94%. Proceeds from the sale were used to reduce PINE’s revolving credit facility balance. The senior participation will be repaid first from the sale of any Loan Collateral properties. The Portfolio Loan was rated A- by an independent agency.
Alpine Income Property Trust (NYSE: PINE) announced the appointment of Philip R. Mays as Senior Vice President, Chief Financial Officer, and Treasurer, effective June 17, 2024. Mays brings extensive experience from his previous roles, including CFO at Shadowbox Studios and Cedar Realty Trust. His expertise in public REITs and relationships in the retail shopping center sector are expected to benefit PINE significantly. Mays will also serve in similar roles at CTO Realty Growth (NYSE: CTO), PINE's external manager. Current CFO Lisa M. Vorakoun will resume her role as Senior VP and Chief Accounting Officer.
Alpine Income Property Trust (NYSE: PINE) announced a correction to the ex-dividend date for their Q2 2024 cash dividend per share. The updated ex-dividend date is June 13, 2024, instead of June 12, 2024. All other details remain the same. Alpine Income Property Trust is a publicly traded REIT that focuses on single tenant net leased commercial properties leased to high-quality, publicly traded, and credit-rated tenants. The company aims to provide attractive risk-adjusted returns and dependable cash dividends.
On May 28, 2024, Alpine Income Property Trust (NYSE: PINE) announced a quarterly cash dividend of $0.275 per share of common stock for Q2 2024. This dividend results in an annualized yield of approximately 7.2%, based on the stock's closing price on May 24, 2024. The dividend will be paid on June 28, 2024, to shareholders on record as of June 13, 2024, with an ex-dividend date of June 12, 2024.
Alpine Income Property Trust is a real estate investment trust (REIT) that focuses on single-tenant net leased commercial properties, primarily leased to high-quality, publicly-traded, and credit-rated tenants.
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