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.
Alpine Income Property Trust (NYSE: PINE) reported its financial results for Q4 and full year 2022, revealing a net income per diluted share of $0.34 and $2.17, respectively. The company achieved a 50% increase in total revenues year-over-year, totaling $45.2 million. Funds From Operations (FFO) per diluted share rose to $1.73, a 9.5% increase. The company acquired 51 properties worth $187.4 million, with a weighted average cash cap rate of 7.1%. It also sold 16 properties generating gains of $33.8 million. The cash dividend was raised by 7.4%. The company aims to continue acquisitions in 2023 with an outlook of stable business trends.
Alpine Income Property Trust, Inc. (NYSE: PINE) will release its financial results for Q4 and the full year of 2022 on February 9, 2023, after market close. A conference call to discuss these results is scheduled for February 10, 2023, at 9:00 AM ET. Participants can access a live webcast through the company’s Investor Relations page. Alpine Income Property Trust focuses on acquiring and operating high-quality single-tenant net leased commercial income properties.
Alpine Income Property Trust, Inc. (NYSE: PINE) reported strong acquisition and disposition activities for 2022. The Company acquired 51 retail properties totaling $187.4 million, with a 7.1% cash cap rate, and sold 16 properties for $154.6 million, generating $33.8 million in gains. Notably, 76% of rental income comes from investment-grade tenants. The Company also strengthened its capital position by issuing shares under its ATM program, raising a total of $36 million in 2022. As of year-end, PINE owned 148 properties with a weighted average remaining lease term of 7.6 years, representing an annualized base rent of $40.4 million.
Alpine Income Property Trust (NYSE: PINE) has declared a quarterly cash dividend of $0.275 per share for Q4 2022, marking a 1.9% increase from the previous year. This dividend equates to an annualized yield of approximately 5.9%, based on the closing stock price on November 21, 2022. The payment is scheduled for December 30, 2022, to stockholders of record as of December 12, 2022, with an ex-dividend date of December 9, 2022.
Alpine Income Property Trust (NYSE: PINE) released its November 2022 Investor Presentation, announcing the acquisition of four net lease retail properties totaling $35.5 million, yielding a 7.4% cash cap rate. Key tenants include Home Depot and Dick’s Sporting Goods, all with investment-grade ratings. Additionally, the firm sold one property for $2 million, realizing a $1.6 million gain. Notably, PINE plans to defease a $30 million mortgage ahead of year-end, contingent on completing the sale of three properties valued at $22.1 million. The company emphasizes its focus on high-quality, single-tenant assets.
Alpine Income Property Trust (NYSE: PINE) announced strong Q3 2022 results, reporting net income per share of $0.72, FFO per share of $0.40, and AFFO per share of $0.42, reflecting increases of 8.1% and 13.5% year-over-year, respectively. The company acquired nine retail properties for $36.7 million at a 7.1% cap rate and sold six properties for $50.5 million, realizing gains of $11.6 million. A $0.275 dividend per share was declared, a 7.8% increase from the prior year. The expanded credit facility enhances liquidity, with no debt maturing until 2026.
On October 11, 2022, Alpine Income Property Trust (NYSE: PINE) reported no material damage to its properties from Hurricane Ian. The company sold six net lease properties for $50.5 million, generating gains of $11.6 million at a 5.5% exit cap rate. Additionally, it acquired nine retail properties for $36.7 million with a 7.1% cash cap rate. Their collection rate for contractual base rents was 100% in Q3 2022. The company also hedged portions of its term loans through interest rate swaps and relocated its headquarters to Winter Park, Florida.
Alpine Income Property Trust (NYSE: PINE) announced the successful amendment and restatement of its senior unsecured Credit Facility. The updated facility totals $350 million, split into a $250 million revolving credit line and a $100 million term loan, with an accordion option for up to $750 million. The new revolving facility, refinanced from $150 million, matures in January 2027. The company now has no debt maturing until 2026 and minimal floating interest rate exposure, enhancing its investment strategy. The facility includes sustainability-linked pricing to reduce interest rates based on performance.
Alpine Income Property Trust, Inc. (NYSE: PINE) will announce its Q3 2022 financial results on October 20, 2022, after market close. A conference call is scheduled for October 21, 2022, at 9:00 AM ET to discuss these results. Interested parties can access a live webcast via the company's Investor Relations page. The call will also include dial-in details for those registering in advance. Alpine Income Property Trust focuses on acquiring and operating a portfolio of high-quality single-tenant net leased commercial properties.
Alpine Income Property Trust (NYSE: PINE) has declared a quarterly cash dividend of $0.275 per share for Q3 2022, marking a 1.9% increase from the previous dividend of $0.27. This increase represents a 7.8% rise year-over-year compared to Q3 2021 dividend rates. The dividend is set to be paid on September 30, 2022 to stockholders of record by September 12, 2022, with an ex-dividend date of September 9, 2022. This translates to an annualized yield of approximately 6.0% based on the August 19, 2022 closing price.