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 real estate investment trust that regularly reports on its activity as an owner and operator of single tenant net leased commercial income properties. The news flow around the company often highlights acquisitions and dispositions of properties, structured investment activity and updates on its tenant base and portfolio metrics.
Recent press releases describe transactions such as the acquisition of portfolios of net leased properties, including assets leased to tenants like Sam’s Club, Hardee’s, Jiffy Lube, Burger King, Walmart and TJ Maxx. The company also reports on the origination of first mortgage loans and other structured investments secured by luxury residential developments and mixed-use developments in markets such as the Austin, Texas metropolitan area, Fairfax County, Virginia, Denver, Colorado, Lake Toxaway, North Carolina and other locations.
Investors following PINE’s news can see regular updates on quarterly and year-to-date investment volumes, initial cash yields, exit cash cap rates on dispositions, occupancy levels and the share of annualized base rent attributable to investment grade rated tenants. The company’s press releases also cover capital markets activity, including the launch and pricing of its 8.00% Series A Cumulative Redeemable Preferred Stock and related at-the-market preferred equity program, as well as dividend declarations on both common and preferred shares.
This news page is useful for tracking Alpine Income Property Trust’s ongoing portfolio management, including property acquisitions, sales of income-producing assets and vacant properties, and sales of participation interests in structured investments. Readers can also monitor periodic earnings announcements, updated guidance ranges and changes in tenant or industry concentrations as disclosed in the company’s operating results. For those interested in REITs focused on net leased commercial properties and related lending activity, the PINE news feed provides a detailed view of how the company is deploying and recycling capital over time.
Alpine Income Property Trust (NYSE: PINE) announced the resignation of Mark O. Decker, Jr. from its Board of Directors, effective October 4, 2024. Andrew Richardson, Chairman of the Board, expressed gratitude for Decker's contributions over the past five years, highlighting his role in the company's growth and success. The company will immediately begin searching for a qualified replacement to fill the board vacancy.
Mr. Decker thanked the PINE team for their support and expressed pride in the company's accomplishments, stating his belief in PINE's positioning for continued success. Alpine Income Property Trust is a publicly traded REIT focused on delivering attractive risk-adjusted returns and dependable cash dividends through investments in single tenant net leased commercial income properties leased to high-quality tenants.
Alpine Income Property Trust (NYSE: PINE) has announced its schedule for reporting third quarter 2024 financial and operating results. The company will release its results after market close on Thursday, October 17, 2024, followed by a conference call at 9:00 AM ET on Friday, October 18, 2024. Investors can access the live webcast through the company's website or via the provided link. A dial-in option is also available through pre-registration.
Alpine Income Property Trust is a publicly traded REIT focused on delivering attractive returns and dependable cash dividends. It achieves this by investing in, owning, and operating a portfolio of single tenant net leased properties, predominantly leased to high-quality publicly traded and credit-rated tenants.
Alpine Income Property Trust (NYSE: PINE) has announced updated third quarter and year-to-date 2024 investment and disposition activities. The company's Q3 total investment activity, including acquisitions and structured investments, now totals $55.3 million at a weighted average initial investment yield of 9.2%. Year-to-date investment activity totals $84.2 million at a 9.4% yield.
In September, PINE purchased and amended a first mortgage construction loan for $17.8 million secured by a Publix-anchored shopping center in Charlotte, NC. The company also sold five net leased retail properties for $28.5 million. Q3 total disposition volume is now $44.1 million at a 6.7% exit cash cap rate, while year-to-date dispositions total $64.3 million at a 7.0% rate.
Alpine Income Property Trust (NYSE: PINE) has declared a quarterly cash dividend of $0.280 per share for the third quarter of 2024. This represents a 1.8% increase from the previous dividend of $0.275 per share. The dividend will be payable on September 30, 2024, to stockholders of record as of September 12, 2024. Based on the closing price of PINE's common stock on August 19, 2024, this dividend reflects an annualized yield of approximately 6.4%.
Alpine Income Property Trust is a publicly traded REIT that focuses on investing in, owning, and operating a portfolio of single-tenant net leased commercial income properties. These properties are predominantly leased to high-quality publicly traded and credit-rated tenants.
Alpine Income Property Trust (NYSE: PINE) has announced updated transaction activities for 2024. The company acquired four net leased retail properties for $37.5 million at a weighted average initial cap rate of 8.8%. Three properties in Tampa Bay, FL were purchased for $31.4 million as a sale-leaseback transaction with a 9.0% initial cap rate and 30-year lease terms. The fourth property in Richmond, VA was bought for $6.1 million, leased to Golf Galaxy and guaranteed by Dick's Sporting Goods.
Year-to-date investment activity totaled $66.4 million at a 9.2% weighted average initial yield. The company's weighted average remaining lease term increased from 6.6 years to 8.35 years. Additionally, PINE sold two properties for $15.6 million at a 5.7% exit cap rate, bringing total dispositions to $35.8 million at a 6.8% yield.
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.
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