Alpine Income's 2024 Investment Activity Reaches $134.7 Million

Core Insights - Alpine Income Property Trust (PINE) has acquired a property leased to Lowe's Home Improvement for $22.5 million, emphasizing its strategy of securing long-term leases with financially stable tenants [2] - In 2024, PINE completed $134.7 million in investments with a weighted average initial investment yield of 8.7%, showcasing effective asset acquisition strategies [3] - The company executed $75.6 million in property sales, improving its portfolio by reallocating resources from lower-growth properties to higher-performing assets [4] Investment Strategy - The acquisition of the Lowe's property, which has a lease term of approximately 13 years and an investment-grade tenant rating of BBB+, enhances PINE's cash flow stability [2] - PINE's portfolio now derives approximately 51% of its annual base rent (ABR) from investment-grade tenants, increasing cash flow reliability [5] - The weighted average remaining lease term has increased from 7.0 years to 8.8 years, extending income visibility and reducing renewal risk [5] Market Performance - PINE's shares have increased by 9.8% over the past six months, outperforming the real estate market's growth of 7.3% [6] - Analysts have revised upward the consensus estimate for funds from operations (FFO) per share for both 2024 and 2025, indicating a positive outlook [7]