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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) reported its financial results for Q4 and full year 2022, revealing a net income per diluted share of $0.34 and $2.17, respectively. The company achieved a 50% increase in total revenues year-over-year, totaling $45.2 million. Funds From Operations (FFO) per diluted share rose to $1.73, a 9.5% increase. The company acquired 51 properties worth $187.4 million, with a weighted average cash cap rate of 7.1%. It also sold 16 properties generating gains of $33.8 million. The cash dividend was raised by 7.4%. The company aims to continue acquisitions in 2023 with an outlook of stable business trends.
Alpine Income Property Trust, Inc. (NYSE: PINE) will release its financial results for Q4 and the full year of 2022 on February 9, 2023, after market close. A conference call to discuss these results is scheduled for February 10, 2023, at 9:00 AM ET. Participants can access a live webcast through the company’s Investor Relations page. Alpine Income Property Trust focuses on acquiring and operating high-quality single-tenant net leased commercial income properties.
Alpine Income Property Trust, Inc. (NYSE: PINE) reported strong acquisition and disposition activities for 2022. The Company acquired 51 retail properties totaling $187.4 million, with a 7.1% cash cap rate, and sold 16 properties for $154.6 million, generating $33.8 million in gains. Notably, 76% of rental income comes from investment-grade tenants. The Company also strengthened its capital position by issuing shares under its ATM program, raising a total of $36 million in 2022. As of year-end, PINE owned 148 properties with a weighted average remaining lease term of 7.6 years, representing an annualized base rent of $40.4 million.
Alpine Income Property Trust (NYSE: PINE) has declared a quarterly cash dividend of $0.275 per share for Q4 2022, marking a 1.9% increase from the previous year. This dividend equates to an annualized yield of approximately 5.9%, based on the closing stock price on November 21, 2022. The payment is scheduled for December 30, 2022, to stockholders of record as of December 12, 2022, with an ex-dividend date of December 9, 2022.
Alpine Income Property Trust (NYSE: PINE) released its November 2022 Investor Presentation, announcing the acquisition of four net lease retail properties totaling $35.5 million, yielding a 7.4% cash cap rate. Key tenants include Home Depot and Dick’s Sporting Goods, all with investment-grade ratings. Additionally, the firm sold one property for $2 million, realizing a $1.6 million gain. Notably, PINE plans to defease a $30 million mortgage ahead of year-end, contingent on completing the sale of three properties valued at $22.1 million. The company emphasizes its focus on high-quality, single-tenant assets.
Alpine Income Property Trust (NYSE: PINE) announced strong Q3 2022 results, reporting net income per share of $0.72, FFO per share of $0.40, and AFFO per share of $0.42, reflecting increases of 8.1% and 13.5% year-over-year, respectively. The company acquired nine retail properties for $36.7 million at a 7.1% cap rate and sold six properties for $50.5 million, realizing gains of $11.6 million. A $0.275 dividend per share was declared, a 7.8% increase from the prior year. The expanded credit facility enhances liquidity, with no debt maturing until 2026.
On October 11, 2022, Alpine Income Property Trust (NYSE: PINE) reported no material damage to its properties from Hurricane Ian. The company sold six net lease properties for $50.5 million, generating gains of $11.6 million at a 5.5% exit cap rate. Additionally, it acquired nine retail properties for $36.7 million with a 7.1% cash cap rate. Their collection rate for contractual base rents was 100% in Q3 2022. The company also hedged portions of its term loans through interest rate swaps and relocated its headquarters to Winter Park, Florida.
Alpine Income Property Trust (NYSE: PINE) announced the successful amendment and restatement of its senior unsecured Credit Facility. The updated facility totals $350 million, split into a $250 million revolving credit line and a $100 million term loan, with an accordion option for up to $750 million. The new revolving facility, refinanced from $150 million, matures in January 2027. The company now has no debt maturing until 2026 and minimal floating interest rate exposure, enhancing its investment strategy. The facility includes sustainability-linked pricing to reduce interest rates based on performance.
Alpine Income Property Trust, Inc. (NYSE: PINE) will announce its Q3 2022 financial results on October 20, 2022, after market close. A conference call is scheduled for October 21, 2022, at 9:00 AM ET to discuss these results. Interested parties can access a live webcast via the company's Investor Relations page. The call will also include dial-in details for those registering in advance. Alpine Income Property Trust focuses on acquiring and operating a portfolio of high-quality single-tenant net leased commercial properties.
Alpine Income Property Trust (NYSE: PINE) has declared a quarterly cash dividend of $0.275 per share for Q3 2022, marking a 1.9% increase from the previous dividend of $0.27. This increase represents a 7.8% rise year-over-year compared to Q3 2021 dividend rates. The dividend is set to be paid on September 30, 2022 to stockholders of record by September 12, 2022, with an ex-dividend date of September 9, 2022. This translates to an annualized yield of approximately 6.0% based on the August 19, 2022 closing price.
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