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

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.

Alpine Income Property Trust (NYSE: PINE) will release its first quarter 2021 results on April 22, 2021, after market close. A conference call to discuss these results is scheduled for April 23, 2021, at 9:00 AM ET. Interested parties can join the call via teleconference or webcast. The company focuses on acquiring and operating high-quality single-tenant net leased properties.

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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.