Alpine Income Property Trust Announces Second Quarter and Year-to-Date 2025 Transaction Activity

Rhea-AI Summary

Alpine Income Property Trust (NYSE:PINE) has reported significant transaction activity for Q2 and YTD 2025. The company completed $85.9 million in acquisitions and structured investments with a weighted average initial yield of 9.1%, while executing $28.2 million in dispositions at an 8.4% exit cap rate.

Key Q2 highlights include the sale of five properties for $16.5 million, origination of $6.6 million in structured investments, and completion of Bass Pro Shops renovation. The company actively managed its portfolio by repurchasing 272,565 shares at $15.81 per share in Q2, bringing YTD buybacks to 546,390 shares at $16.07 per share. Post-quarter, PINE received full repayment of a $25.5 million Publix construction loan.

Positive

• Strong investment yield of 9.1% on $85.9M of acquisitions and structured investments
• Successful completion of Bass Pro Shops renovation with 20-year lease term secured
• Full repayment received on $25.5M construction loan at 9.5% yield
• Active share repurchase program demonstrating confidence in stock value
• No debt maturities until May 2026, indicating strong balance sheet position

Negative

• Disposition of five properties including reduction in Walgreens exposure
• Lower exit cap rate (8.4%) on dispositions compared to acquisition yield (9.1%)
• Limited remaining capacity ($1.2M) in share buyback program

News Market Reaction

+1.58%

1 alert

+1.58% News Effect

On the day this news was published, PINE gained 1.58%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

WINTER PARK, Fla., July 07, 2025 (GLOBE NEWSWIRE) -- Alpine Income Property Trust, Inc. (NYSE: PINE) (the “Company”) today announced its second quarter and year-to-date 2025 portfolio and transaction activities and provides a balance sheet update.

Portfolio and Transaction Activity

The Company’s total investment activity year-to-date in 2025 includes $85.9 million of acquisition and structured investment transactions representing a weighted average initial investment yield of 9.1%. The Company’s year-to-date total disposition activity includes $28.2 million of asset sales representing a weighted average exit cash cap rate of 8.4%. The Company’s weighted average lease term is 8.9 years as of June 30, 2025.

Second quarter 2025 details are as follows:

• Sold five net lease properties, two leased to Walgreens, and one each to Dollar Tree, Verizon and Old Time Pottery, for total disposition volume of $16.5 million at a weighted average exit cap rate of 7.9%. Walgreens has now decreased to the Company’s 5^th largest tenant based on ABR, with eight properties remaining.
• Originated one seller financing structured investment in conjunction with the disposition of a property leased to Old Time Pottery and originated a new first mortgage loan for a combined total of $6.6 million in principal fully funded at closing with a weighted average initial yield of 9.8%.
• Bass Pro Shops completed its full renovation on schedule with its grand opening on May 21, 2025. The 66,033-square foot property in Hermantown, MN, was re-leased to Bass Pro Shops in Q3 2025 under a 20-year initial lease term commencing upon opening. There was no interruption to the required rental payments during the renovation.
• Subsequent to quarter end, on July 2, 2025, the $25.5 million construction loan for the Publix land development in Charlotte, NC with a current yield of 9.5% was fully repaid.

Balance Sheet Update

• During the quarter ended June 30, 2025, the Company repurchased 272,565 shares of common stock at a weighted average gross price of $15.81 per share, for a total cost of $4.3 million. Year-to-date 2025, the Company repurchased 546,390 shares of common stock at a weighted average gross price of $16.07, for a total cost of $8.8 million.
• As of June 30, 2025, the Company had approximately $1.2 million remaining on its current common stock buyback program.
• As of June 30, 2025, there were 15,375,768 shares of common stock and operating partnership units outstanding.
• The Company currently has no debt maturities until May 2026.

About Alpine Income Property Trust, Inc. 

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 commercial income properties that are predominantly leased to high-quality publicly traded and credit-rated tenants.

We encourage you to review our most recent investor presentation which is available on our website at http://www.alpinereit.com.  

Safe Harbor 

This press release may contain “forward-looking statements.” Forward-looking statements include statements that may be identified by words such as “could,” “may,” “might,” “will,” “likely,” “anticipates,” “intends,” “plans,” “seeks,” “believes,” “estimates,” “expects,” “continues,” “projects” and similar references to future periods, or by the inclusion of forecasts or projections. Forward-looking statements are based on the Company’s current expectations and assumptions regarding capital market conditions, the Company’s business, the economy and other future conditions. Because forward-looking statements relate to the future, by their nature, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. As a result, the Company’s actual results may differ materially from those contemplated by the forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include general business and economic conditions, continued volatility and uncertainty in the credit markets and broader financial markets, risks inherent in the real estate business, including tenant defaults, potential liability relating to environmental matters, credit risk associated with the Company investing in first mortgage investments, illiquidity of real estate investments and potential damages from natural disasters, the impact of epidemics or pandemics on the Company’s business and the business of its tenants and the impact of such epidemics or pandemics on the U.S. economy and market conditions generally, other factors affecting the Company’s business or the business of its tenants that are beyond the control of the Company or its tenants, and the factors set forth under “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024 and other risks and uncertainties discussed from time to time in the Company’s filings with the U.S. Securities and Exchange Commission. Any forward-looking statement made in this press release speaks only as of the date on which it is made. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.

Contact:
Investor Relations
ir@alpinereit.com

FAQ

What is Alpine Income Property Trust's (PINE) total acquisition volume for 2025 YTD?

PINE completed $85.9 million in acquisitions and structured investments year-to-date 2025, achieving a weighted average initial yield of 9.1%.

How many shares did PINE repurchase in Q2 2025?

In Q2 2025, PINE repurchased 272,565 shares at a weighted average price of $15.81 per share, totaling $4.3 million.

What was the value of PINE's property dispositions in Q2 2025?

PINE sold five net lease properties in Q2 2025 for a total of $16.5 million at a weighted average exit cap rate of 7.9%.

What is the status of PINE's Bass Pro Shops property renovation?

The Bass Pro Shops renovation was completed on schedule with a grand opening on May 21, 2025. The 66,033-square foot property was re-leased under a 20-year term with no interruption to rental payments.

When is Alpine Income Property Trust's next debt maturity?

PINE has no debt maturities until May 2026, indicating a stable near-term debt position.