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) will report its fourth quarter and full year 2021 financial results on February 10, 2022. Following this, an earnings call is scheduled for February 11, 2022 at 9:00 AM ET. Participants can access the call via teleconference or webcast, with details provided for both options. The company, a publicly traded real estate investment trust, focuses on acquiring and managing net leased properties. For further updates, the earnings call will be archived on their investor relations page.
Alpine Income Property Trust (NYSE: PINE) announced significant accomplishments for 2021, acquiring 68 net lease retail properties for $260.3 million, achieving a 6.8% cash cap rate. Q4 featured 26 acquisitions totaling $101.6 million at a 6.2% cash cap rate. The company also sold three properties for $28.3 million, generating $9.7 million in gains. By year-end, PINE owned 113 fully occupied properties, yielding $36.9 million in annualized base rent and demonstrating strong tenant credit ratings. The CEO expressed optimism about future growth and portfolio strength.
Alpine Income Property Trust (NYSE: PINE) has announced the sale of its Orlando office properties leased to Hilton Grand Vacations for $24.5 million, achieving a gain of $9.1 million and an exit cap rate of 7.5%. The sale, part of a 1031 exchange strategy, is aimed at enhancing the company's net lease portfolio by focusing entirely on retail. CEO John P. Albright emphasized that the proceeds will help improve the portfolio's diversity and quality, targeting sustainable earnings through investment in properties with strong demographics.
Alpine Income Property Trust (NYSE: PINE) announced a 5.9% increase in its quarterly cash dividend, raising it to $0.27 per share for Q4 2021, compared to $0.255 previously. The dividend, representing a 22.7% year-over-year increase, is payable on December 30, 2021, to stockholders of record as of December 9, 2021. The ex-dividend date is set for December 8, 2021, resulting in an annualized yield of approximately 6.0% based on its closing price on November 19, 2021.
Alpine Income Property Trust, Inc. (NYSE: PINE) reported Q3 2021 earnings with a net income of $1.056 million and earnings per diluted share of $0.07, marking a 67% increase from the previous year. Funds from Operations (FFO) rose 58% to $4.82 million, with FFO per share at $0.37. The company acquired 19 net lease properties for $55.4 million and raised its dividend by 27.5% to $0.255 per share. Total revenues surged 60.2% to $8.171 million. The firm also secured an $80 million unsecured term loan with an initial rate of 1.83%.
Alpine Income Property Trust (NYSE: PINE) has secured an $80 million unsecured term loan set to mature in January 2027. The loan features a fixed interest rate of 1.83% based on current leverage and includes an accordion option for up to $200 million in additional commitments. This capital will enable the company to reduce its revolving credit facility debt and is part of a broader strategy to address its future capital needs, particularly in conjunction with expected office property sales.
Alpine Income Property Trust (NYSE: PINE) will announce its Q3 2021 financial results after market close on October 21, 2021. A conference call is scheduled for October 22, 2021, at 9:00 AM ET to discuss these results. Interested parties can join the call via teleconference or webcast, with dial-in numbers provided for the USA, Canada, and international participants. A replay of the call will be available online afterward. Alpine is a real estate investment trust focusing on high-quality single-tenant net leased properties.
Alpine Income Property Trust (NYSE: PINE) has announced a quarterly cash dividend increase to $0.255 per share for Q3 2021, up from $0.25. This 2.0% increase represents an annualized yield of approximately 5.5% based on the stock's closing price on August 20, 2021. The dividend is payable on September 30, 2021, to shareholders of record by September 9, 2021. The announcement reflects the company's commitment to returning value to shareholders while navigating ongoing economic challenges.
On July 22, 2021, Alpine Income Property Trust (NYSE: PINE) reported its Q2 2021 results, showcasing a net income per diluted share of $0.03 and a 31% increase in FFO per diluted share to $0.38. The company acquired 18 net lease properties for $81.3 million, achieving a cash cap rate of 7.3%. The firm also completed a $60 million unsecured term loan at 2.16% interest and raised $54.3 million through a follow-on equity offering. A dividend of $0.25 per share was declared, reflecting a 25% increase from the previous year. Performance trends indicate strong growth momentum for future quarters.
Alpine Income Property Trust (NYSE: PINE) has successfully acquired six net lease retail properties for $44.5 million from CTO Realty Growth (NYSE: CTO), finalized on June 30, 2021. This portfolio includes leases from major retailers like Lowe’s and Walgreens, with over 60% of rent derived from investment-grade entities. The properties are strategically located in metropolitan areas with populations exceeding one million. Notably, the acquisition involved assuming a $30 million mortgage at a 4.33% fixed interest rate, maturing in October 2034.
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