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

Alpine Income Property Trust (NYSE: PINE) reported its Q4 and full-year 2020 earnings, showing net income of $0.02 per diluted share for Q4 and $0.11 for the full year. The company collected 100% of rent due during Q4 and continued strong rent collection in early 2021. PINE increased its quarterly cash dividend by 10% to $0.22 per share and declared a Q1 2021 dividend of $0.24, reflecting a 9.1% increase. The firm acquired 29 properties in 2020 for $116.6 million, with a weighted-average cap rate of 6.9%, enhancing its high-quality portfolio.

Alpine Income Property Trust (NYSE: PINE) announced a quarterly cash dividend increase to $0.24 per share from $0.22, effective for Q1 2021. This represents a 9.1% increase and provides an annualized yield of approximately 5.5% based on the February 10, 2021 closing price. The dividend will be paid on March 31, 2021 to stockholders of record by March 22, 2021.

On February 10, 2021, Alpine Income Property Trust (NYSE: PINE) announced the appointment of Rachel Elias Wein to its Board of Directors. With nearly 20 years in the real estate sector, Wein is the CEO of WeinPlus, a consultancy for retailers and real estate firms. Her background includes roles at The Sembler Company and Ernst & Young. Wein's appointment expands the board to six directors, five of whom are independent. She will serve on the Compensation and Audit Committees, bringing valuable insights to support the company's growth.

Alpine Income Property Trust (NYSE: PINE) will announce its Q4 and full-year 2020 financial results on February 11, 2021, after market close. A conference call for discussing these results is scheduled for February 12, 2021, at 9:00 AM ET. Shareholders can access the call via teleconference or webcast. The company specializes in acquiring and operating high-quality single-tenant net leased properties, enhancing its investment portfolio.

Alpine Income Property Trust, Inc. (NYSE: PINE) has announced the acquisition of two single-tenant properties leased to Walgreens and Kohl’s for a total of $15.4 million. The acquisitions, with a weighted average cash cap rate of 7.1% and a remaining lease term of approximately 9.3 years, expand the company’s portfolio to 48 properties across 34 markets in 18 states. In 2020, the company exceeded its acquisition guidance, purchasing 29 properties for $116.6 million, achieving a weighted average cash cap rate of 6.9%.

Alpine Income Property Trust (NYSE: PINE) has announced the acquisition of a single-tenant net leased income property in Kermit, Texas, leased to Dollar General for approximately $1.9 million. The acquisition reflects a going-in cap rate consistent with the company’s guidance and has 14.8 years remaining on the lease. This addition increases the company's portfolio to 46 properties across 33 markets and 17 states, with a weighted average lease term of 8.5 years. Year-to-date, Alpine has acquired properties totaling $101.2 million at a 6.9% weighted average cap rate.

Alpine Income Property Trust (PINE) reported Q3 2020 earnings, achieving a net income per diluted share of $0.06 and 100% collection of contractual base rent. The company acquired 15 properties for approximately $23.9 million, with a weighted average cap rate of 6.8%. A cash dividend of $0.20 per share was paid, and a 10% increase to $0.22 was declared for Q4 2020. Full year acquisition guidance was raised to $110 million. Notably, total revenues reached $5.1 million for Q3 2020, while FFO per diluted share stood at $0.35. The portfolio remained fully occupied with a strong tenant credit profile.

Alpine Income Property Trust (NYSE: PINE) announced a quarterly cash dividend increase to $0.22 per share for Q4 2020, up from $0.20. This reflects a 10.0% increase and provides an annualized yield of approximately 6.1% based on the stock's closing price on October 20, 2020. The dividend will be paid on December 31, 2020 to stockholders of record as of December 15, 2020.

Alpine Income Property Trust (NYSE: PINE) has successfully amended its unsecured revolving credit facility, increasing its total capacity from $100 million to $150 million, with an accordion option that allows up to $200 million. The new facility includes participation from The Huntington National Bank and Truist Bank, and it matures in November 2023, with a possible extension to November 2024. This increase will provide the company with additional capital and operational flexibility to support its growth strategy and acquisition plans.