Alpine Income Property Trust Reports Third Quarter 2025 Operating and Financial Results

Core Insights - Alpine Income Property Trust, Inc. has raised its full-year 2025 outlook, increasing its investment guidance to a range of $200 million to $230 million [1][19]. Financial Performance - For the third quarter ended September 30, 2025, total revenues increased to $14.563 million from $13.480 million in the same period of 2024, representing a year-over-year growth of 8% [3]. - The net income attributable to Alpine Income Property Trust was a loss of $1.310 million for the third quarter of 2025, compared to a profit of $3.080 million in the third quarter of 2024 [3]. - Funds from Operations (FFO) for the third quarter were $7.135 million, up from $6.690 million in the prior year, while Adjusted Funds from Operations (AFFO) also increased to $7.128 million from $6.649 million [3][45]. Investment Activity - The company made total investments of $49.720 million in the third quarter of 2025, with 5 investments completed, and year-to-date investments reached $136 million at a weighted-average initial cash yield of 8.9% [4][2]. - The company disposed of 3 properties for a total of $6.152 million in the third quarter, with total dispositions for the nine months ended September 30, 2025, amounting to $34.338 million [5][4]. Property Portfolio - As of September 30, 2025, the company owned 128 properties with a total of 4.1 million square feet and an annualized base rent (ABR) of $46.3 million, achieving an occupancy rate of 99.4% [7]. - 48% of the ABR is derived from investment-grade rated tenants, with Lowe's and Dick's Sporting Goods being the top two tenants [2][9]. Debt and Liquidity - The company's net debt to total enterprise value stands at 62.1%, with a fixed charge coverage ratio of 3.1x [13]. - As of September 30, 2025, total liquidity was $61.355 million, including $60.172 million available under the revolving credit facility [13]. Dividends - The company declared dividends of $0.285 per share for the third quarter of 2025, with a payout ratio of 62.0% for both FFO and AFFO [18]. 2025 Outlook - The revised guidance for 2025 FFO and AFFO per share is now set between $1.82 and $1.85, up from the previous range of $1.74 to $1.77 [19][20].