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 publicly traded real estate investment trust (REIT) that focuses on acquiring, owning, and managing a diversified portfolio of high-quality single-tenant net leased commercial income properties across the United States. As a REIT, Alpine Income Property Trust leverages its strategic investments in single-tenant retail and office properties to generate consistent rental revenue, primarily through long-term leases.
The company boasts an impressive portfolio encompassing 138 net leased properties situated in 104 markets across 35 states. These properties are strategically located in metropolitan statistical areas (MSAs), growth markets, and other high-demand regions, ensuring steady and robust income streams. Alpine Income Property Trust's portfolio provides a balanced mix of properties, contributing to its financial stability and growth.
Recent achievements include the company's announcement to report its financial and operating results for the fourth quarter and full year 2023 on February 8, 2024. Following this, a conference call is scheduled for February 9, 2024, to discuss these results in detail.
Alpine Income Property Trust's revenue model is largely driven by rental income derived from its ownership and leasing activities. The firm's disciplined acquisition strategy focuses on properties with long-term, net leases to high-quality tenants, contributing to a reliable and predictable revenue stream. The company also places emphasis on maintaining a diversified tenant base to mitigate risk.
The trust is committed to sustaining its growth through strategic property dispositions and acquisitions, ensuring that its portfolio remains aligned with market demands and opportunities. Additionally, Alpine Income Property Trust pays regular dividends to its shareholders, reflecting its solid financial health and commitment to return value.
For investors seeking a stable and income-generating real estate investment, Alpine Income Property Trust, Inc. represents a robust option. With a focus on high-quality, single-tenant properties and a strategic presence in key markets, the company continues to reinforce its position in the commercial real estate sector.
Alpine Income Property Trust (NYSE: PINE) has declared a quarterly cash dividend of $0.280 per share for Q4 2024. The dividend represents an annualized yield of approximately 6.3% based on the company's closing stock price on November 18, 2024. The dividend will be paid on December 31, 2024, to stockholders of record as of December 12, 2024, with the same ex-dividend date.
Alpine Income Property Trust (NYSE: PINE) announced changes to its Board of Directors effective November 8, 2024. Jeffrey S. Yarckin has resigned from the Board after five years of service. The company appointed Brenna A. Wadleigh as his replacement. Wadleigh, currently CEO of N3 Real Estate since 2015, brings extensive commercial real estate experience to PINE. She previously served at Crescent Real Estate Equities from 1998 to 2007 and holds a BBA in Finance from the University of Texas at Arlington.
Alpine Income Property Trust (NYSE: PINE) announced its Q4 and year-to-date 2024 investment activities. The company completed a $28 million acquisition of 5 single-tenant properties anchored by BJ's Wholesale Club in Charlotte, North Carolina. Year-to-date investment activity totals $112.2 million at a 9.3% weighted average initial yield. In October 2024, PINE sold two former Mountain Express convenience stores for $1.4 million. Total year-to-date dispositions reached $70.2 million at a 7.1% weighted average exit cash cap rate.
Alpine Income Property Trust (NYSE: PINE) reported its Q3 2024 results with a net income per diluted share of $0.21. Funds from Operations (FFO) rose by 21.6% to $0.45 per diluted share, and Adjusted Funds from Operations (AFFO) increased by 15.8% to $0.44 per diluted share. The company raised $11.1 million via its ATM stock offering and acquired four retail properties for $37.5 million at an 8.8% cap rate. PINE sold eight retail properties for $48.6 million, generating $3.4 million in gains. The weighted average lease term increased to 8.8 years. The quarterly dividend was increased to $0.28 per share. Full-year 2024 FFO guidance was raised to $1.67-$1.69 per share, and AFFO guidance to $1.69-$1.71 per share. Total revenues for Q3 2024 were $13.5 million, up 16.6% YoY. Net income attributable to PINE was $3.1 million, a 468% increase YoY. Year-to-date revenues were $38.4 million, up 12.8% YoY. Investment activities totaled $55.3 million in Q3 2024 at a 9.2% yield.
Alpine Income Property Trust (NYSE: PINE) announced the resignation of Mark O. Decker, Jr. from its Board of Directors, effective October 4, 2024. Andrew Richardson, Chairman of the Board, expressed gratitude for Decker's contributions over the past five years, highlighting his role in the company's growth and success. The company will immediately begin searching for a qualified replacement to fill the board vacancy.
Mr. Decker thanked the PINE team for their support and expressed pride in the company's accomplishments, stating his belief in PINE's positioning for continued success. Alpine Income Property Trust is a publicly traded REIT focused on delivering attractive risk-adjusted returns and dependable cash dividends through investments in single tenant net leased commercial income properties leased to high-quality tenants.
Alpine Income Property Trust (NYSE: PINE) has announced its schedule for reporting third quarter 2024 financial and operating results. The company will release its results after market close on Thursday, October 17, 2024, followed by a conference call at 9:00 AM ET on Friday, October 18, 2024. Investors can access the live webcast through the company's website or via the provided link. A dial-in option is also available through pre-registration.
Alpine Income Property Trust is a publicly traded REIT focused on delivering attractive returns and dependable cash dividends. It achieves this by investing in, owning, and operating a portfolio of single tenant net leased properties, predominantly leased to high-quality publicly traded and credit-rated tenants.
Alpine Income Property Trust (NYSE: PINE) has announced updated third quarter and year-to-date 2024 investment and disposition activities. The company's Q3 total investment activity, including acquisitions and structured investments, now totals $55.3 million at a weighted average initial investment yield of 9.2%. Year-to-date investment activity totals $84.2 million at a 9.4% yield.
In September, PINE purchased and amended a first mortgage construction loan for $17.8 million secured by a Publix-anchored shopping center in Charlotte, NC. The company also sold five net leased retail properties for $28.5 million. Q3 total disposition volume is now $44.1 million at a 6.7% exit cash cap rate, while year-to-date dispositions total $64.3 million at a 7.0% rate.
Alpine Income Property Trust (NYSE: PINE) has declared a quarterly cash dividend of $0.280 per share for the third quarter of 2024. This represents a 1.8% increase from the previous dividend of $0.275 per share. The dividend will be payable on September 30, 2024, to stockholders of record as of September 12, 2024. Based on the closing price of PINE's common stock on August 19, 2024, this dividend reflects an annualized yield of approximately 6.4%.
Alpine Income Property Trust is a publicly traded REIT that focuses on investing in, owning, and operating a portfolio of single-tenant net leased commercial income properties. These properties are predominantly leased to high-quality publicly traded and credit-rated tenants.
Alpine Income Property Trust (NYSE: PINE) has announced updated transaction activities for 2024. The company acquired four net leased retail properties for $37.5 million at a weighted average initial cap rate of 8.8%. Three properties in Tampa Bay, FL were purchased for $31.4 million as a sale-leaseback transaction with a 9.0% initial cap rate and 30-year lease terms. The fourth property in Richmond, VA was bought for $6.1 million, leased to Golf Galaxy and guaranteed by Dick's Sporting Goods.
Year-to-date investment activity totaled $66.4 million at a 9.2% weighted average initial yield. The company's weighted average remaining lease term increased from 6.6 years to 8.35 years. Additionally, PINE sold two properties for $15.6 million at a 5.7% exit cap rate, bringing total dispositions to $35.8 million at a 6.8% yield.
Alpine Income Property Trust (NYSE: PINE) reported its Q2 2024 operating results, highlighting strong performance and growth. Key points include:
- Net Income per diluted share of $0.01
- FFO and AFFO per diluted share of $0.43, up 16.2% year-over-year
- Acquired a $14.6M net lease retail property with 100% investment-grade tenants
- Sold two properties for $6.6M, generating $0.9M in gains
- Originated a $6.1M first mortgage construction loan at 11.5% yield
- Increased full-year FFO guidance to $1.58-$1.62 per share and AFFO guidance to $1.60-$1.64 per share
The company's property portfolio consists of 137 properties across 34 states, with 67% of annualized base rent from investment-grade tenants. PINE's top tenants include Walgreens, Dick's Sporting Goods, and Lowe's.
FAQ
What is the current stock price of Alpine Income Property Trust (PINE)?
What is the market cap of Alpine Income Property Trust (PINE)?
What is Alpine Income Property Trust, Inc.?
What types of properties does Alpine Income Property Trust own?
How many properties are in Alpine Income Property Trust’s portfolio?
When will Alpine Income Property Trust report its Q4 and full year 2023 financial results?
How does Alpine Income Property Trust generate revenue?
What is a net lease?
Does Alpine Income Property Trust pay dividends?
Who are the typical tenants of Alpine Income Property Trust’s properties?
What is the significance of the company's property locations?
What are some recent achievements of Alpine Income Property Trust?
