GICS Sector : Real Estate
Alpine Income Property Trust, Inc.(NYSE: PINE) is a publicly traded real estate investment trust that acquires, owns and operates a portfolio of high-quality single-tenant net leased commercial income properties. Show Full description
Alpine Income Property Trust reported a robust Q3 with AFFO per share growth of 4.5% compared to the same quarter last year. FFO and AFFO for the quarter were both $0.46 per diluted share, representing 2.2% and 4.5% growth, respectively. The company's dividend represents an annualized yield of approximately 8.25% and has an approximate AFFO payout ratio of 62%. The actual EPS came out at -$0.09 relative to estimates at $0.43, indicating a significant deviation from expectations.
Publication Date: Nov -02
The company acquired 2 properties ground leased to Lowe's for $21.1 million at a weighted average initial cap rate of 6% and a weighted average lease term of 11.6 years. Year-to-date, property acquisition volume totaled $60.8 million at a weighted average initial cap rate of 7.7% and a WALT of 13.6 years. The company also sold 3 assets for $6.2 million, indicating a continued effort to optimize its portfolio. As John Albright mentioned, "they still have some Walgreens and dollar stores to move through, and other assets like Advance Auto Parts and Tractor Supply will continue to be sold," highlighting the company's ongoing disposition strategy.
The company originated $28.6 million of loans at a weighted average initial yield of 10.6%. The loan portfolio is approximately $94 million at a weighted average interest rate of 11.5%, with $21 million scheduled to mature in 2026. The company expects to utilize proceeds from these 2026 maturities, selling a senior tranche of one or more loan investments, property dispositions, and existing capacity on its revolving credit facility to fund loan commitments. Philip Mays added that an A note sale could occur before year-end, further reducing the funding load.
Alpine Income Property Trust increased its FFO and AFFO outlook for 2025 to a new range of $1.82 to $1.85 per diluted share. The company's net debt to pro forma adjusted EBITDA stands at 7.7x, and $61 million of liquidity. With a dividend yield of 7.73% and a P/B Ratio of 0.93, the stock appears to be reasonably valued. Analysts estimate next year's revenue growth at 1.8%. The EV/EBITDA ratio is 14.18, indicating a moderate valuation. As the company continues to execute its strategy, investors will be watching for further progress in optimizing its portfolio and growing its loan book.
The company is monitoring the situation with tenants like At Home, which has seen a decline in credit rating. Philip Mays explained that the decrease in credit-rated tenants was due to tenants like Walgreens and At Home dropping their credit ratings. John Albright mentioned that future property acquisitions will target higher credit quality and investment-grade tenants, indicating a focus on improving the overall credit profile of the portfolio.
Is Your Retirement Income Enough? How I Leveled Up Mine With Covered Call ETFs
Dec -03
Financial Review: CTO Realty Growth (NYSE:CTO) vs. Plymouth Industrial REIT (NYSE:PLYM)
Dec -03
PINE or OHI: Which Is the Better Value Stock Right Now?
Dec -02
Alpine Income Property Trust Announces Year-To-Date 2025 Transaction Activity & Preferred Equity Offering
Dec -01
Alpine: This Is Why After ~30% Rally I'm Still Holding It
Dec -01
2 Top Stocks to Invest $50,000 in Right Now
Nov -25
PINE.PR.A: An 8.00% Preferred Stock IPO From Alpine Income Property
Nov -24
Steven Cress' 6 Picks: 3 Dividend Income, 3 AI Growth Stocks
Nov -23
Alpine Income Property Trust's 2.0% growth in Retail Real Estate is driven by increasing demand for essential retail services, e-commerce resistant tenants, and strategic acquisitions. Additionally, the company's focus on high-quality, necessity-based retail properties with long-term leases and strong credit tenants contributes to its stable growth.
Alpine Income Property Trust, Inc. invests in and manages a diversified portfolio of net leased properties, providing a steady income stream to its investors.
The company acquires and manages industrial properties, including warehouses, distribution centers, and manufacturing facilities, leased to creditworthy tenants.
Alpine Income Property Trust, Inc. invests in and manages a portfolio of office properties, including suburban and urban office buildings, leased to a diverse range of tenants.
The company acquires and manages a diversified portfolio of retail properties, including shopping centers, strip centers, and single-tenant retail properties.
Alpine Income Property Trust, Inc. operates in a niche market, providing a unique combination of real estate investment and management services. While there are substitutes available, the company's specialized offerings and strong brand reputation mitigate the threat of substitutes.
Alpine Income Property Trust, Inc.'s customers are primarily institutional investors and high-net-worth individuals, who have limited bargaining power due to the company's specialized services and strong market position.
Alpine Income Property Trust, Inc. relies on a network of suppliers, including property managers, contractors, and service providers. While the company has some bargaining power, suppliers can still exert some influence due to the specialized nature of their services.
The barriers to entry in the real estate investment and management industry are relatively high, requiring significant capital and expertise. This limits the threat of new entrants and allows Alpine Income Property Trust, Inc. to maintain its market position.
The real estate investment and management industry is highly competitive, with several established players competing for market share. Alpine Income Property Trust, Inc. must continually innovate and improve its services to maintain its competitive edge.
| Value | |
|---|---|
| Debt Weight | 52.95% |
| Debt Cost | 3.95% |
| Equity Weight | 47.05% |
| Equity Cost | 8.01% |
| WACC | 5.86% |
| Leverage | 112.53% |
Value: 6.7
Growth: 8.4
Quality: 7.8
Yield: 10.0
Momentum: 7.0
Volatility: 8.3
1-Year Total Return ->
Value: 3.1
Growth: 2.9
Quality: 7.6
Yield: 10.0
Momentum: 6.0
Volatility: 7.7
1-Year Total Return ->
Value: 3.1
Growth: 4.6
Quality: 6.5
Yield: 10.0
Momentum: 3.0
Volatility: 10.0
1-Year Total Return ->
Value: 5.7
Growth: 3.6
Quality: 6.1
Yield: 10.0
Momentum: 2.0
Volatility: 9.3
1-Year Total Return ->
Value: 4.8
Growth: 5.1
Quality: 3.2
Yield: 10.0
Momentum: 1.5
Volatility: 9.3
1-Year Total Return ->
Value: 2.6
Growth: 2.9
Quality: 4.9
Yield: 8.0
Momentum: 3.0
Volatility: 9.0
1-Year Total Return ->