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Sep 30, 2021
Alpine Income Property Trust Q3 2021 Earnings Report
Alpine Income Property Trust reported its third quarter results, demonstrating growth through strategic acquisitions and portfolio management.
Key Takeaways
Alpine Income Property Trust reported a solid third quarter with increased revenue and net income. The company strategically acquired 19 net lease properties and sold one property, enhancing its portfolio. They also managed to raise the dividend and are expecting to raise the AFFO guidance by 5%.
Net Income per diluted share attributable to the Company was $0.07.
FFO per diluted share was $0.37, an increase of 5.7% from the prior year period.
AFFO per diluted share was $0.37, an increase of 8.8% from the prior year period.
Acquired 19 net lease properties for $55.4 million with a weighted-average going-in cash cap rate of 6.8%.
Alpine Income Property Trust
Alpine Income Property Trust
Forward Guidance
The Company is increasing its outlook for 2021 to take into account the Company’s third quarter performance and the anticipated impact of the Company’s fourth quarter investment activities and capital markets transactions, including the timing related to the sale of the office properties leased to Hilton Grand Vacations and Wells Fargo.