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) 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.
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.
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