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 June 25, 2020, Alpine Income Property Trust (NYSE: PINE) announced the results of its 2020 Annual Meeting held on June 24, 2020. Shareholders re-elected five board members, including John P. Albright and Mark O. Decker, Jr. The meeting also saw the ratification of Grant Thornton LLP as the independent accounting firm for 2020. Post-meeting, Andrew C. Richardson was re-elected Chairman of the Board, and key officers, including John P. Albright as CEO, were confirmed for continued leadership. The company focuses on acquiring and operating single-tenant net leased commercial properties.
Alpine Income Property Trust (NYSE: PINE) has announced the acquisition of a net-leased retail property for approximately $8 million, with a going-in cap rate of 6.68%. The 55,000 square foot building, leased to Hobby Lobby, is situated on over four acres in Asheville, North Carolina, and has around 11 years remaining on the lease, including rent escalations every five years. This acquisition expands the company's portfolio to 30 properties across 20 markets and 13 states, with a weighted average remaining lease term of 8.7 years.
Alpine Income Property Trust (NYSE: PINE) has declared a cash dividend of $0.20 per share for Q2 2020. This dividend will be payable on June 30, 2020, to shareholders on record as of June 15, 2020. The company operates a portfolio of high-quality single-tenant net leased commercial properties, reinforcing its commitment to returning value to shareholders through dividends.
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