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Jun 30, 2022
Alpine Income Property Trust Q2 2022 Earnings Report
Reported strong capital recycling and earnings growth
Key Takeaways
Alpine Income Property Trust reported a strong second quarter in 2022, marked by strategic capital recycling, attractive asset pricing, and improved earnings growth. The company reinvested proceeds from dispositions into well-performing properties, enhancing overall portfolio quality and deleveraging the balance sheet.
Net Income per diluted share attributable to the Company was $1.05.
FFO per diluted share was $0.47, an increase of 23.7% from the prior year period.
AFFO per diluted share was $0.47, an increase of 20.5% from the prior year period.
Acquired 19 net lease retail properties for $43.6 million with a weighted average going-in cash cap rate of 7.0%.
Forward Guidance
The Company has increased its per share earnings outlook for 2022 to take into account the Company’s year-to-date performance and revised expectations regarding the Company’s investment activities, forecasted capital markets transactions, and other significant assumptions.
Positive Outlook
- Acquisitions between $215 million and $235 million.
- Dispositions between $125 million and $175 million.
- FFO per Diluted Share between $1.60 and $1.65.
- AFFO per Diluted Share between $1.58 and $1.63.
- Weighted Average Diluted Shares Outstanding between 14.0 million and 14.5 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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