Alpine Income Property Trust, Inc. Stock Price, News & Analysis

Alpine Income Property Trust (NYSE: PINE) announced the acquisition of a portfolio of nine retail net lease properties for $14.8 million. This includes a tenth property under agreement. Approximately 65% of the annualized base rent is from investment-grade tenants, including brands like Circle K and Burger King. The purchase was financed through 424,951 operating partnership units at $18.85 each and existing cash, alongside the assumption of $1.6 million in mortgage liabilities. The company expects the tenth property's acquisition to close in the next 30 days.

Alpine Income Property Trust (NYSE: PINE) will announce its second quarter 2021 financial results on July 22, 2021, after market close. The Earnings Call, scheduled for July 23, 2021, at 9:00 AM ET, will discuss these results. Participants can join via teleconference or webcast. The conference call access numbers are provided for the USA, international, and Canada. Alpine Income Property Trust specializes in acquiring and managing high-quality single-tenant net leased properties, enhancing its portfolio value.

On June 10, 2021, Alpine Income Property Trust (NYSE: PINE) announced the sale of an additional 420,000 shares, completing a total offering of 3,220,000 shares and raising approximately $57.3 million. The proceeds will be contributed to its operating partnership for repaying credit facility debts and funding general corporate purposes, including potential property acquisitions. The offering was managed by Raymond James, Baird, and Stifel. All shares were offered under the existing shelf registration with the SEC.

Alpine Income Property Trust, Inc. (NYSE: PINE) has announced a public offering of 2,800,000 shares of its common stock, priced at approximately $49.8 million. A 30-day option allows underwriters to purchase an additional 420,000 shares, potentially increasing gross proceeds to $57.3 million. Proceeds will go to Alpine Income Property OP, LP for debt repayment and general corporate purposes, aiding in property acquisitions. The offering is set to close on June 7, 2021, subject to standard closing conditions.

Alpine Income Property Trust (NYSE: PINE) announced a public offering of 2,500,000 shares of common stock, with a 30-day option for underwriters to purchase an additional 375,000 shares. The proceeds will support the Operating Partnership for debt repayment and general corporate purposes, including property acquisitions. Raymond James, Baird, and Stifel manage the offering, which is conducted under an existing shelf registration statement. This press release does not constitute an offer to sell or buy these securities without proper registration.

On May 24, 2021, Alpine Income Property Trust (NYSE: PINE) announced a new 5-year unsecured term loan totaling $60.0 million, set to mature in May 2026. The loan features a fixed interest rate of 2.16%, linked to the company’s leverage ratio, with an accordion option allowing for additional commitments up to $160 million. This financing will help the company manage future debt maturities and support its acquisition strategy, according to CEO John P. Albright. Truist Bank leads the loan arrangement.

Alpine Income Property Trust (NYSE: PINE) reported Q1 2021 results, showcasing a strong performance with net income of $0.05 per diluted share and substantial growth in funds from operations (FFO) and adjusted funds from operations (AFFO) per diluted share, increasing by 90.9% and 120%, respectively, compared to the previous year. The company collected 100% of its contractual base rent and expanded its portfolio with five acquisitions totaling $21.9 million. A quarterly dividend of $0.25 has been declared, reflecting a 4.2% increase. PINE maintains its 2021 guidance with FFO anticipated between $1.50-$1.70 per diluted share.

Alpine Income Property Trust (NYSE: PINE) has declared a quarterly cash dividend of $0.25 per share for Q2 2021, up from $0.24 per share, marking a 4.2% increase. This dividend is payable on June 30, 2021, to stockholders of record as of June 21, 2021. With this increase, the annualized yield is approximately 5.6% based on the closing price on April 20, 2021. The Company focuses on acquiring and managing high-quality commercial income properties.

Alpine Income Property Trust (NYSE: PINE) has announced agreements to acquire seven retail net lease properties from CTO Realty Growth (NYSE: CTO) for a total of $56.0 million. The acquisitions include a six-property portfolio leased to major national retailers like Lowe’s and Walgreens, along with one property net leased to Burlington. The portfolio is diversified and strategically located in metropolitan areas with populations over one million. The company will assume a $30.0 million mortgage for the Six-Property Acquisition, which has a fixed rate of 4.33% and matures in 2034.