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.
On April 20, 2023, Alpine Income Property Trust (NYSE: PINE) announced its operating results for Q1 2023. The Company reported a net income per diluted share of $0.21, a significant increase from $0.06 in Q1 2022. However, funds from operations (FFO) per diluted share decreased by 26.5% to $0.36, while adjusted funds from operations (AFFO) also dropped by 25.0%, both compared to the previous year. The Company sold 10 net lease properties for $56.2 million, generating gains of $4.5 million. Investment grade-rated tenant exposure rose to 58%, up from 50% in Q1 2022. A cash dividend of $0.275 per share was declared, reflecting a 1.9% increase year-over-year. The revised outlook for 2023 anticipates acquisitions of $100-$150 million and FFO per diluted share of $1.50-$1.55. The Company emphasizes a strong balance sheet with no floating interest rate exposure.
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