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 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.
Alpine Income Property Trust (NYSE: PINE) will announce its Q3 2021 financial results after market close on October 21, 2021. A conference call is scheduled for October 22, 2021, at 9:00 AM ET to discuss these results. Interested parties can join the call via teleconference or webcast, with dial-in numbers provided for the USA, Canada, and international participants. A replay of the call will be available online afterward. Alpine is a real estate investment trust focusing on high-quality single-tenant net leased properties.
Alpine Income Property Trust (NYSE: PINE) has announced a quarterly cash dividend increase to $0.255 per share for Q3 2021, up from $0.25. This 2.0% increase represents an annualized yield of approximately 5.5% based on the stock's closing price on August 20, 2021. The dividend is payable on September 30, 2021, to shareholders of record by September 9, 2021. The announcement reflects the company's commitment to returning value to shareholders while navigating ongoing economic challenges.
On July 22, 2021, Alpine Income Property Trust (NYSE: PINE) reported its Q2 2021 results, showcasing a net income per diluted share of $0.03 and a 31% increase in FFO per diluted share to $0.38. The company acquired 18 net lease properties for $81.3 million, achieving a cash cap rate of 7.3%. The firm also completed a $60 million unsecured term loan at 2.16% interest and raised $54.3 million through a follow-on equity offering. A dividend of $0.25 per share was declared, reflecting a 25% increase from the previous year. Performance trends indicate strong growth momentum for future quarters.
Alpine Income Property Trust (NYSE: PINE) has successfully acquired six net lease retail properties for $44.5 million from CTO Realty Growth (NYSE: CTO), finalized on June 30, 2021. This portfolio includes leases from major retailers like Lowe’s and Walgreens, with over 60% of rent derived from investment-grade entities. The properties are strategically located in metropolitan areas with populations exceeding one million. Notably, the acquisition involved assuming a $30 million mortgage at a 4.33% fixed interest rate, maturing in October 2034.
Alpine Income Property Trust (NYSE: PINE) announced the acquisition of a portfolio of nine retail net lease properties for $14.8 million. This includes a tenth property under agreement. Approximately 65% of the annualized base rent is from investment-grade tenants, including brands like Circle K and Burger King. The purchase was financed through 424,951 operating partnership units at $18.85 each and existing cash, alongside the assumption of $1.6 million in mortgage liabilities. The company expects the tenth property's acquisition to close in the next 30 days.
Alpine Income Property Trust (NYSE: PINE) will announce its second quarter 2021 financial results on July 22, 2021, after market close. The Earnings Call, scheduled for July 23, 2021, at 9:00 AM ET, will discuss these results. Participants can join via teleconference or webcast. The conference call access numbers are provided for the USA, international, and Canada. Alpine Income Property Trust specializes in acquiring and managing high-quality single-tenant net leased properties, enhancing its portfolio value.
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