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) announced the collection of 100% of its contractual base rents for September 2020. Previously, PINE agreed to defer or abate 4.9% of these rents in exchange for additional lease terms or enhancements. The company also reported that its portfolio remains fully occupied, ensuring stable income from its properties.
Alpine Income Property Trust, Inc. (NYSE: PINE) has announced the appointment of Matthew M. Partridge as Senior Vice President, Chief Financial Officer, and Treasurer, effective October 1, 2020. Partridge has significant experience in the finance sector, previously serving in leadership roles at Hutton, Agree Realty Corporation, and Pebblebrook Hotel Trust. CEO John P. Albright expressed excitement about Partridge's addition, emphasizing his public REIT CFO experience. In addition to his role at PINE, Partridge will also serve as CFO of CTO Realty Growth, Inc.
Alpine Income Property Trust, Inc. (NYSE: PINE) announced the collection of 100% of its contractual base rents for August 2020. This follows a prior agreement allowing specific deferrals or abatements equating to 4.9% of these rents in exchange for lease enhancements. The company also reported that its property portfolio remains entirely occupied, indicating strong occupancy levels amidst ongoing market challenges.
Alpine Income Property Trust (NYSE: PINE) reported Q2 2020 earnings, net income of $0.03 per diluted share, FFO of $0.29, and AFFO of $0.16. The company collected 94% of July rent and reintroduced its 2020 guidance. It acquired two properties totaling $28.6 million, with a 6.7% cap rate. Share buybacks totaled 398,000 shares for $4.4 million. Total revenues reached $4.59 million for Q2. Despite challenges from COVID-19, the company has engaged tenants regarding rent relief options, resulting in an 81% collection rate for Q2 2020.
Alpine Income Property Trust, Inc. (NYSE: PINE) plans to announce its second quarter 2020 operating results on July 22, 2020, after market close. An Earnings Call is scheduled for July 23, 2020, at 9:00 a.m. ET. Investors can access the call through teleconference or via a webcast. Details include a toll-free number for U.S. callers and a link to the webcast. The company operates a portfolio of single-tenant net leased commercial properties. For more information, visit their website.
Alpine Income Property Trust (NYSE: PINE) announced the acquisition of a net-leased retail property in Howell, Michigan, for approximately $20.6 million. The property, leased to Wal-Mart Real Estate Business Trust, has a going-in cap rate of 6.65% and a lease term of around 6.6 years. The acquisition was funded through cash on hand and a draw of about $13 million from a line of credit. This purchase expands the Company’s portfolio to 31 properties across 21 markets and strengthens its position with a weighted average lease term of 8.5 years.
On June 25, 2020, Alpine Income Property Trust (NYSE: PINE) announced the results of its 2020 Annual Meeting held on June 24, 2020. Shareholders re-elected five board members, including John P. Albright and Mark O. Decker, Jr. The meeting also saw the ratification of Grant Thornton LLP as the independent accounting firm for 2020. Post-meeting, Andrew C. Richardson was re-elected Chairman of the Board, and key officers, including John P. Albright as CEO, were confirmed for continued leadership. The company focuses on acquiring and operating single-tenant net leased commercial properties.
Alpine Income Property Trust (NYSE: PINE) has announced the acquisition of a net-leased retail property for approximately $8 million, with a going-in cap rate of 6.68%. The 55,000 square foot building, leased to Hobby Lobby, is situated on over four acres in Asheville, North Carolina, and has around 11 years remaining on the lease, including rent escalations every five years. This acquisition expands the company's portfolio to 30 properties across 20 markets and 13 states, with a weighted average remaining lease term of 8.7 years.
Alpine Income Property Trust (NYSE: PINE) has declared a cash dividend of $0.20 per share for Q2 2020. This dividend will be payable on June 30, 2020, to shareholders on record as of June 15, 2020. The company operates a portfolio of high-quality single-tenant net leased commercial properties, reinforcing its commitment to returning value to shareholders through dividends.
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