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) delivers curated updates on this REIT's commercial real estate activities through our comprehensive news hub. Access official press releases and market analysis covering strategic acquisitions, earnings reports, and portfolio developments for this single-tenant net lease specialist.
This resource provides investors with essential updates on PINE's high-quality income properties and capital market activities. Track critical announcements including lease renewals, dividend declarations, and management changes while staying informed about the company's position in metropolitan retail markets.
All content undergoes strict verification to ensure accuracy and relevance. Our centralized format eliminates the need to search multiple sources, with updates ranging from quarterly financial results to property portfolio expansions. Bookmark this page for streamlined access to PINE's evolving market strategy and operational milestones.
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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