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 sale of its single tenant office property in Hillsboro, Oregon for $38.8 million, realizing a gain of $7.0 million. This sale marks the final step in the company's strategy to transition its portfolio to 100% retail properties. The proceeds from this transaction will support like-kind reverse 1031 exchanges and enhance the portfolio's overall lease term and geographic diversity. The company generated combined gains on sale totaling $16.1 million from this segment exit.
Alpine Income Property Trust, Inc. (NYSE: PINE) will release its first quarter 2022 financial results after market close on April 21, 2022. A conference call to discuss the results is scheduled for April 22, 2022, at 9:00 AM ET. Investors can access the call via teleconference or webcast. For the teleconference, participants are advised to dial in 10 minutes early and use access code 8056588. A replay of the call will be available on the company's investor relations website.
Alpine Income Property Trust (NYSE: PINE) has declared a quarterly cash dividend of $0.27 per share for Q1 2022, reflecting a 12.5% increase from the previous year. The dividend is scheduled for payment on March 31, 2022, to shareholders on record as of March 10, 2022. The ex-dividend date is March 9, 2022, yielding approximately 5.8% based on shares' closing price as of February 22, 2022. This increase demonstrates the company's commitment to returning value to its shareholders.
Alpine Income Property Trust (NYSE: PINE) reported robust operating results for Q4 and the full year ended December 31, 2021. Key highlights include a net income per diluted share of $0.64 for Q4 and $0.89 for the year, with funds from operations (FFO) of $0.42 and $1.58, respectively. The company acquired 26 net lease properties in Q4 for $101.6 million, yielding a 6.2% cash cap rate. A cash dividend of $0.27 was declared for Q4, marking a 5.9% increase. The company projects 2022 acquisitions between $200 million to $250 million and FFO per diluted share of $1.53 to $1.58.
Alpine Income Property Trust (NYSE: PINE) will report its fourth quarter and full year 2021 financial results on February 10, 2022. Following this, an earnings call is scheduled for February 11, 2022 at 9:00 AM ET. Participants can access the call via teleconference or webcast, with details provided for both options. The company, a publicly traded real estate investment trust, focuses on acquiring and managing net leased properties. For further updates, the earnings call will be archived on their investor relations page.
Alpine Income Property Trust (NYSE: PINE) announced significant accomplishments for 2021, acquiring 68 net lease retail properties for $260.3 million, achieving a 6.8% cash cap rate. Q4 featured 26 acquisitions totaling $101.6 million at a 6.2% cash cap rate. The company also sold three properties for $28.3 million, generating $9.7 million in gains. By year-end, PINE owned 113 fully occupied properties, yielding $36.9 million in annualized base rent and demonstrating strong tenant credit ratings. The CEO expressed optimism about future growth and portfolio strength.
Alpine Income Property Trust (NYSE: PINE) has announced the sale of its Orlando office properties leased to Hilton Grand Vacations for $24.5 million, achieving a gain of $9.1 million and an exit cap rate of 7.5%. The sale, part of a 1031 exchange strategy, is aimed at enhancing the company's net lease portfolio by focusing entirely on retail. CEO John P. Albright emphasized that the proceeds will help improve the portfolio's diversity and quality, targeting sustainable earnings through investment in properties with strong demographics.
Alpine Income Property Trust (NYSE: PINE) announced a 5.9% increase in its quarterly cash dividend, raising it to $0.27 per share for Q4 2021, compared to $0.255 previously. The dividend, representing a 22.7% year-over-year increase, is payable on December 30, 2021, to stockholders of record as of December 9, 2021. The ex-dividend date is set for December 8, 2021, resulting in an annualized yield of approximately 6.0% based on its closing price on November 19, 2021.
Alpine Income Property Trust, Inc. (NYSE: PINE) reported Q3 2021 earnings with a net income of $1.056 million and earnings per diluted share of $0.07, marking a 67% increase from the previous year. Funds from Operations (FFO) rose 58% to $4.82 million, with FFO per share at $0.37. The company acquired 19 net lease properties for $55.4 million and raised its dividend by 27.5% to $0.255 per share. Total revenues surged 60.2% to $8.171 million. The firm also secured an $80 million unsecured term loan with an initial rate of 1.83%.
Alpine Income Property Trust (NYSE: PINE) has secured an $80 million unsecured term loan set to mature in January 2027. The loan features a fixed interest rate of 1.83% based on current leverage and includes an accordion option for up to $200 million in additional commitments. This capital will enable the company to reduce its revolving credit facility debt and is part of a broader strategy to address its future capital needs, particularly in conjunction with expected office property sales.
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