Alpine Income Property Trust Inc (PINE) News & EventsPINEAlpine Income Property Trust Inc

Alpine Income Property Trust Acquires 13-Property Industrial Portfolio for $117.3M

Alpine Income Property Trust announced that it has entered into an agreement to acquire a 13-property industrial portfolio for $117.3M, or $63 per square foot. The portfolio totals approximately 1.9M square feet on approximately 209 acres across 11 states. The properties are 100% leased to nine tenants under absolute triple-net leases with a weighted average remaining lease term of 10.2 years, and no lease expires before late 2031. The tenants have operated at their respective sites for an average of approximately 40 years, and many have made significant investments in their facilities. Approximately 19% of in-place cash rent is attributable to tenants that are rated investment grade or are subsidiaries of investment grade rated parents. "This acquisition will add a portfolio of mission-critical manufacturing and distribution facilities, at a low basis with 10 years of weighted average lease term remaining," said John P. Albright, President and Chief Executive Officer of Alpine Income Property Trust. "We believe that the investment will deliver an attractive initial yield, and that the annual rent escalators built into the leases will support future cash flow growth." The acquisition is expected to close in the fourth quarter of 2026, subject to the satisfaction of customary closing conditions. The Company expects to fund the acquisition with borrowings under its revolving credit facility, proceeds from select dispositions, and commercial loan repayments.

Alpine Income Property Trust Q2 Revenue $20M, Beats Expectations

Reports Q2 revenue $20M, consensus $18.36M. "We continued to execute on our growth strategy in the second quarter, completing approximately $77 million of investments at an attractive blended yield of nearly 9%," said John P. Albright, President and Chief Executive Officer of Alpine Income Property Trust. "With this activity, our property portfolio ABR grew to $50 million at quarter end, with 55% attributable to investment grade rated tenants. Further, we opportunistically utilized our ATM program to source capital and further support our liquidity position."

Company Revises 2026 Outlook, Forecasts $2.13 Earnings

Consensus $2.13. The company said, "The Company is revising its 2026 outlook. The Company's 2026 guidance is based on current plans and a number of assumptions and is subject to risks and uncertainties, many of which are outside the Company's control, and are more fully described in this press release and the Company's reports filed with the U.S. Securities and Exchange Commission. Further, the Company's 2026 outlook does not reflect the impact of any incentive management fee that may be due to our manager based on stockholder return for the calendar year."