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Sep 30, 2024
Alpine Income Property Trust Q3 2024 Earnings Report
Alpine Income Property Trust reported robust growth in earnings and investments, while selectively pruning the portfolio by selling lower yielding assets and recycling the proceeds into higher yield assets.
Key Takeaways
Alpine Income Property Trust reported strong Q3 2024 results, marked by significant growth in earnings and strategic investments. The company's net income per diluted share was $0.21, with FFO and AFFO per diluted share increasing by 21.6% and 15.8% year-over-year, respectively. The company raised both FFO and AFFO guidance for the year.
Net Income per diluted share attributable to the Company of $0.21.
Funds from Operations (“FFO”) of $0.45 per diluted share, an increase of 21.6% from the comparable prior year period.
Adjusted Funds from Operations (“AFFO”) of $0.44 per diluted share, an increase of 15.8% from the comparable prior year period.
Increased quarterly dividend from $0.275 per share to $0.28 per share.
Revenue by Geographic Location
Forward Guidance
The Company is increasing its FFO, AFFO, and investments outlook for 2024 to take into account its year-to-date performance.
Positive Outlook
- Investments: $100 million to $110 million
- Dispositions: $70 million to $75 million
- FFO per Diluted Share: $1.67 to $1.69
- AFFO per Diluted Share: $1.69 to $1.71
- Weighted Average Diluted Shares Outstanding: 15.1 million to 15.1 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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