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. operates as a REIT focused on single-tenant net leased commercial income properties in the United States. News about PINE centers on acquisitions and dispositions of income properties, structured commercial loan investments, sale-leaseback properties, portfolio occupancy, tenant credit mix and lease terms.
Company updates also cover earnings, AFFO guidance, dividends, unsecured credit facility activity, at-the-market equity issuance, and the NYSE-listed common and 8.00% Series A Cumulative Redeemable Preferred Stock. The recurring business themes reflect a net lease platform that combines owned retail real estate with commercial loans and other real estate investment activity.
On February 10, 2021, Alpine Income Property Trust (NYSE: PINE) announced the appointment of Rachel Elias Wein to its Board of Directors. With nearly 20 years in the real estate sector, Wein is the CEO of WeinPlus, a consultancy for retailers and real estate firms. Her background includes roles at The Sembler Company and Ernst & Young. Wein's appointment expands the board to six directors, five of whom are independent. She will serve on the Compensation and Audit Committees, bringing valuable insights to support the company's growth.
Alpine Income Property Trust (NYSE: PINE) will announce its Q4 and full-year 2020 financial results on February 11, 2021, after market close. A conference call for discussing these results is scheduled for February 12, 2021, at 9:00 AM ET. Shareholders can access the call via teleconference or webcast. The company specializes in acquiring and operating high-quality single-tenant net leased properties, enhancing its investment portfolio.
Alpine Income Property Trust, Inc. (NYSE: PINE) has announced the acquisition of two single-tenant properties leased to Walgreens and Kohl’s for a total of $15.4 million. The acquisitions, with a weighted average cash cap rate of 7.1% and a remaining lease term of approximately 9.3 years, expand the company’s portfolio to 48 properties across 34 markets in 18 states. In 2020, the company exceeded its acquisition guidance, purchasing 29 properties for $116.6 million, achieving a weighted average cash cap rate of 6.9%.
Alpine Income Property Trust (NYSE: PINE) has announced the acquisition of a single-tenant net leased income property in Kermit, Texas, leased to Dollar General for approximately $1.9 million. The acquisition reflects a going-in cap rate consistent with the company’s guidance and has 14.8 years remaining on the lease. This addition increases the company's portfolio to 46 properties across 33 markets and 17 states, with a weighted average lease term of 8.5 years. Year-to-date, Alpine has acquired properties totaling $101.2 million at a 6.9% weighted average cap rate.
Alpine Income Property Trust (PINE) reported Q3 2020 earnings, achieving a net income per diluted share of $0.06 and 100% collection of contractual base rent. The company acquired 15 properties for approximately $23.9 million, with a weighted average cap rate of 6.8%. A cash dividend of $0.20 per share was paid, and a 10% increase to $0.22 was declared for Q4 2020. Full year acquisition guidance was raised to $110 million. Notably, total revenues reached $5.1 million for Q3 2020, while FFO per diluted share stood at $0.35. The portfolio remained fully occupied with a strong tenant credit profile.
Alpine Income Property Trust (NYSE: PINE) announced a quarterly cash dividend increase to $0.22 per share for Q4 2020, up from $0.20. This reflects a 10.0% increase and provides an annualized yield of approximately 6.1% based on the stock's closing price on October 20, 2020. The dividend will be paid on December 31, 2020 to stockholders of record as of December 15, 2020.
Alpine Income Property Trust (NYSE: PINE) has successfully amended its unsecured revolving credit facility, increasing its total capacity from $100 million to $150 million, with an accordion option that allows up to $200 million. The new facility includes participation from The Huntington National Bank and Truist Bank, and it matures in November 2023, with a possible extension to November 2024. This increase will provide the company with additional capital and operational flexibility to support its growth strategy and acquisition plans.
Alpine Income Property Trust, Inc. (NYSE: PINE) has acquired two retail income properties in Texas, leased to Dollar General, for approximately $3.2 million. The leases are backed by the investment-grade parent entity and have an average remaining term of 14.8 years with a cap rate of 6.48%. This acquisition brings the company's total portfolio to 45 properties across 32 markets and 18 states, with a weighted average lease term of 8.6 years. Year-to-date, the company has acquired $97.5 million in properties at a 6.90% cap rate.
Alpine Income Property Trust, Inc. (NYSE: PINE) announced the acquisition of a portfolio of three retail properties leased to Dollar General in Maine for approximately $4.6 million, reflecting a 6.85% cap rate. The leases, backed by Dollar General's investment-grade parent entity, have about 13.1 years remaining. This acquisition raises the Company's portfolio total to 43 properties across 30 markets. Year-to-date, Alpine has acquired $94.2 million in properties at an average cap rate of 6.9%.
Alpine Income Property Trust (NYSE: PINE) announced the acquisition of nine retail properties for $14.25 million, enhancing their portfolio to 40 properties across 27 markets. The acquired properties include eight net-leased locations to Dollar General and one to Advance Auto Parts, all guaranteed by investment-grade entities. This acquisition reflects a cap rate of 6.85% and a robust average lease term of 12.4 years. Year-to-date, PINE has invested $89.7 million in similar assets at a 6.92% cap rate, demonstrating strategic growth in their portfolio.