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Jun 30, 2024
Alpine Income Property Trust Q2 2024 Earnings Report
Announced second quarter 2024 operating results.
Key Takeaways
Alpine Income Property Trust reported a positive second quarter with net income attributable to the Company of $0.01 per diluted share and FFO and AFFO per diluted share of $0.43, a 16.2% increase year-over-year. The company increased its full-year FFO and AFFO guidance, driven by net investment spreads.
Net Income per diluted share attributable to the Company of $0.01.
FFO and AFFO per diluted share of $0.43, a 16.2% increase from the comparable prior year period.
Acquired a net lease retail property which is 100% leased to two investment grade tenants for $14.6 million.
Increased full year FFO guidance to $1.58 to $1.62 per diluted share and full year 2024 AFFO guidance to $1.60 to $1.64 per diluted share.
Alpine Income Property Trust
Alpine Income Property Trust
Alpine Income Property Trust Revenue by Geographic Location
Revenue by Geographic Location
Florida Revenue
CapyFin.comNew Jersey Revenue
CapyFin.comNew York Revenue
CapyFin.comIllinois Revenue
CapyFin.comMichigan Revenue
CapyFin.comTexas Revenue
CapyFin.comGeorgia Revenue
CapyFin.comOhio Revenue
CapyFin.comMinnesota Revenue
CapyFin.comWest Virginia Revenue
CapyFin.comKansas Revenue
CapyFin.com Forward Guidance
The Company has increased its FFO and AFFO outlook for 2024 to take into account the Company’s year-to-date performance. The Company’s outlook for 2024 assumes continued stability in economic activity, stable or positive business trends related to each of our tenants, and other significant assumptions.
Positive Outlook
- Investments between $50 million and $80 million.
- Dispositions between $50 million and $80 million.
- FFO per Diluted Share between $1.58 and $1.62.
- AFFO per Diluted Share between $1.60 and $1.64.
- Weighted Average Diluted Shares Outstanding of 14.9 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income