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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.
Revenue by Geographic Location
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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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