Today, we return to the world of net lease REITs, the bread and butter of REITer’s Digest. Out of the diverse and wide industry of real estate investment trusts, the net lease sector has emerged as one of the most popular amongst retail investors. TheAnalyst’s Disclosure: I/we have a beneficial long position in the shares of ADC, O either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than f ...

Core Viewpoint - Alpine Income Property Trust, Inc. has announced a new common stock repurchase program with a total purchase price of up to $10,000,000, allowing the company flexibility in acquiring its shares in the open market [1] Company Overview - Alpine Income Property Trust, Inc. is a publicly traded real estate investment trust (REIT) focused on delivering attractive risk-adjusted returns and dependable cash dividends by investing in single tenant net leased commercial income properties, primarily leased to high-quality publicly traded and credit-rated tenants [2]

Alpine Income Property Trust, Inc. (NYSE:PINE) Q4 2024 Earnings Conference Call February 7, 2025 9:00 AM ET Company Participants John Albright - President, Chief Executive Officer, Director Philip Mays - Senior Vice President, Chief Financial Officer, Treasurer Conference Call Participants Kathryn Graves - UBS Gaurav Mehta - Alliance Global Partners Robert Stevenson - Janney Montgomery Scott Matthew Erdner - Jones Trading Alex Fagan - Baird John Massocca - B. Riley Securities Craig Kucera - Lucid Capital Ma ...

Fourth Quarter 2024 Investor Presentation Company Snapshot 134 Properties $564M Enterprise Value $144 TEV / SF 3.9M Total Portfolio Square Feet 8.1% Implied Cap Rate 100% Retail Net Lease Portfolio 51% of ABR From Investment Grade-Rated Tenants 6.7% Annualized Dividend Yield $267M Equity Market Capitalization Portfolio1 Value + Income 8.7 Years W.A. Lease Term2 As of December 31, 2024, unless otherwise noted. PINE stock price on 12/31/2024 was $16.79. 1. Three properties, which were acquired in the third qu ...

Core Viewpoint - Alpine Income (PINE) reported quarterly funds from operations (FFO) of $0.44 per share, exceeding the Zacks Consensus Estimate of $0.42 per share, and showing an increase from $0.37 per share a year ago [1][2] Group 1: Financial Performance - The company achieved an FFO surprise of 4.76% for the recent quarter, following a previous surprise of 12.50% when it reported $0.45 instead of the expected $0.40 [1] - Revenues for the quarter ended December 2024 were $13.79 million, surpassing the Zacks Consensus Estimate by 1.99%, and up from $11.58 million year-over-year [2] - Over the last four quarters, Alpine Income has consistently surpassed consensus FFO and revenue estimates [2] Group 2: Stock Performance and Outlook - Since the beginning of the year, Alpine Income shares have increased by approximately 3.2%, slightly outperforming the S&P 500's gain of 3.1% [3] - The future performance of the stock will largely depend on management's commentary during the earnings call and the company's FFO outlook [3][4] - The current consensus FFO estimate for the upcoming quarter is $0.44 on revenues of $13.93 million, and for the current fiscal year, it is $1.78 on revenues of $56.44 million [7] Group 3: Industry Context - The REIT and Equity Trust - Other industry, to which Alpine Income belongs, is currently ranked in the bottom 34% of over 250 Zacks industries, indicating potential challenges ahead [8] - The performance of Alpine Income may also be influenced by the overall outlook for the industry [8]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF For the transition period from to Commission File Number 001-39143 ALPINE INCOME PROPERTY TRUST, INC. (Exact name of registrant as specified in its charter) Maryland 84-2769895 (State or other juri ...

Press Release IMMEDIATE ALPINE INCOME PROPERTY TRUST REPORTS FOURTH QUARTER AND FULL YEAR 2024 OPERATING RESULTS - Fourth Quarter Net Loss of $0.06 per diluted share and FFO and AFFO of $0.44 per diluted share - - Closed Investments of $134.7 million at an 8.7% cash yield in 2024 – - Increases Dividend for Q1 2025 - - Provides 2025 Outlook - WINTER PARK, FL – February 6, 2025 – Alpine Income Property Trust, Inc. (NYSE: PINE) (the "Company" or "PINE"), an owner and operator of single tenant net leased commer ...

Core Insights - The company reported a fourth quarter net loss of $0.06 per diluted share, with FFO and AFFO of $0.44 per diluted share [1][3] - Closed investments totaled $134.7 million at an 8.7% cash yield in 2024 [1][4] - The company increased its dividend for Q1 2025 [1][16] - A 2025 outlook was provided, indicating expected investments and dispositions [1][18] Financial Performance - Total revenues for Q4 2024 were $13.791 million, up from $11.581 million in Q4 2023 [3] - Net income attributable to the company for the year was $2.066 million, down from $2.917 million in 2023 [3] - FFO for the year was $26.098 million, an increase from $22.910 million in 2023 [3] - AFFO for the year was $26.185 million, compared to $23.211 million in 2023 [3] Investment Activity - The company completed 12 investments totaling $103.6 million for the year, with a weighted average initial cash cap rate of 8.2% [4] - Dispositions for the year amounted to $75.589 million, with a weighted average exit cash cap rate of 7.1% [6] - The company reduced its exposure to Walgreens and increased the weighted average remaining lease term to 8.7 years [2] Property Portfolio - As of December 31, 2024, the company owned 134 properties with a total of 3.9 million square feet and an annualized base rent of $44.3 million [7] - The occupancy rate of the portfolio was 98.0%, with 51% of ABR attributable to investment-grade rated tenants [7] - The top industries represented in the portfolio included Sporting Goods (16%), Home Improvement (13%), and Dollar Stores (12%) [9] Balance Sheet and Capital Markets - As of December 31, 2024, the company's net debt to total enterprise value was 52.6% [11] - Total liquidity was reported at $95.109 million, with $89.545 million available under the revolving credit facility [11] - The company had total long-term debt of $302 million with a weighted average interest rate of 4.10% [12] Dividend Information - The company declared a quarterly cash dividend of $0.285 per share for Q1 2025, representing a 1.8% increase from the previous quarter [16][17] - The FFO payout ratio for the year was 64.2% [17] 2025 Outlook - The company anticipates investments between $50 million and $80 million and dispositions between $20 million and $30 million in 2025 [18] - Expected FFO and AFFO per diluted share for 2025 are projected to be between $1.70 and $1.73 [18][19]

Core Insights - Investors are evaluating the value opportunities presented by Alpine Income (PINE) and SL Green (SLG) in the REIT and Equity Trust - Other sector [1] Valuation Metrics - Both PINE and SLG have a Zacks Rank of 2 (Buy), indicating positive earnings estimate revisions and improving earnings outlooks [3] - PINE has a forward P/E ratio of 9.57, while SLG has a forward P/E of 11.95 [5] - PINE's PEG ratio is 1.60, compared to SLG's PEG ratio of 5.33, suggesting PINE is more favorably valued in terms of expected EPS growth [5] - PINE has a P/B ratio of 0.89, indicating a lower market value relative to its book value, while SLG has a P/B of 1.18 [6] - Based on these valuation metrics, PINE earns a Value grade of B, whereas SLG receives a Value grade of D [6] Investment Conclusion - Despite both stocks having solid earnings outlooks, PINE is identified as the superior value option based on the discussed valuation figures [7]

Core Insights - The article emphasizes the importance of a long-term investment strategy focused on compounding wealth over generations through careful asset management and selection [1]. Investment Strategy - The investment approach combines a business education background with diverse industry experience to identify opportunities in sectors such as Media, Marketing, Public Relations, Travel, Tourism, Hospitality, Corporate Events, and Software as a Service [1]. - The strategy includes reinvesting dividends from well-managed organizations, balancing current income with sustainable growth, and seeking investments with a substantial margin of safety and a wide economic moat [1]. Asset Management - The focus is on holding dividend growth stocks in taxable brokerage accounts while utilizing Roth IRAs for investments in Real Estate Investment Trusts (REITs) and Business Development Companies (BDCs) [1]. - The investment philosophy is not aimed at quick wealth accumulation but rather at building lasting wealth through disciplined investment practices [1].