Alpine Income Property Trust Provides Operational Update
05 Juin 2023 - 1:30PM
Alpine Income Property Trust, Inc. (NYSE: PINE) (the “Company”)
announced today that in connection with the Company’s participation
in NAREIT’s upcoming REITWeek Conference, the Company has published
its June 2023 Investor Presentation to its website and provided an
update on its year-to-date investment activity:
- During 2023, the
Company acquired nine net lease retail properties for total
acquisition volume of $60.5 million at a weighted average going-in
cash cap rate of 6.8%. The acquired properties are leased to
high-quality tenants including Lowe’s, Marshalls, Dollar
Tree/Family Dollar, Best Buy, Chick-Fil-A, Dick’s Sporting Goods,
Starbucks, HomeGoods, and Home Depot and 85% of the acquired
Annualized Base Rents are derived from Investment Grade-Rated
Tenants.
- The Company sold
13 net lease properties during 2023 for $68.8 million at a weighted
average exit cap rate of 6.2%, generating gains on sale of $5.0
million.
- The Company’s top five tenants
based on total Annualized Base Rent are Walgreens, Lowe’s, Dick’s
Sporting Goods, Dollar Tree/Family Dollar and Dollar General. All
top five tenants are Investment Grade-Rated Tenants and 62% of
total in-place Annualized Base Rent for the Company’s portfolio is
attributable to Investment Grade-Rated Tenants.
About Alpine Income Property Trust,
Inc.
Alpine Income Property Trust, Inc. (NYSE: PINE)
is a publicly traded real estate investment trust that seeks to
deliver attractive risk-adjusted returns and dependable cash
dividends by investing in, owning and operating a portfolio of
single tenant net leased commercial income properties that are
predominately leased to high-quality publicly traded and
credit-rated tenants.
We encourage you to review our most recent
investor presentation which is available on our website at
http://www.alpinereit.com.
Safe Harbor & Disclosures
This press release may contain “forward-looking
statements.” Forward-looking statements include statements that may
be identified by words such as “could,” “may,” “might,” “will,”
“likely,” “anticipates,” “intends,” “plans,” “seeks,” “believes,”
“estimates,” “expects,” “continues,” “projects” and similar
references to future periods, or by the inclusion of forecasts or
projections. Forward-looking statements are based on the Company’s
current expectations and assumptions regarding capital market
conditions, the Company’s business, the economy and other future
conditions. Because forward-looking statements relate to the
future, by their nature, they are subject to inherent
uncertainties, risks and changes in circumstances that are
difficult to predict. As a result, the Company’s actual results may
differ materially from those contemplated by the forward-looking
statements. Important factors that could cause actual results to
differ materially from those in the forward-looking statements
include general business and economic conditions, continued
volatility and uncertainty in the credit markets and broader
financial markets, risks inherent in the real estate business,
including tenant defaults, potential liability relating to
environmental matters, illiquidity of real estate investments and
potential damages from natural disasters, the impact of epidemics
or pandemics (such as the COVID-19 Pandemic and its variants) on
the Company’s business and the business of its tenants and the
impact of such epidemics or pandemics on the U.S. economy and
market conditions generally, other factors affecting the Company’s
business or the business of its tenants that are beyond the control
of the Company or its tenants, and the factors set forth under
“Risk Factors” in the Company’s Annual Report on Form 10-K for the
year ended December 31, 2022 and other risks and uncertainties
discussed from time to time in the Company’s filings with the U.S.
Securities and Exchange Commission. Any forward-looking statement
made in this press release speaks only as of the date on which it
is made. The Company undertakes no obligation to publicly update or
revise any forward-looking statement, whether as a result of new
information, future developments or otherwise.
Annualized Base Rent (“ABR”) represents the
annualized in-place straight-line base rent required by the
tenant’s lease. ABR is a non-GAAP financial measure. We believe
this non-GAAP financial measure is useful to investors because it
is a widely accepted industry measure used by analysts and
investors to compare the real estate portfolios and operating
performance of REITs.
The Company defines an Investment Grade-Rated
Tenant as a tenant, or the parent of a tenant, with a credit rating
from S&P Global Ratings, Moody’s Investors Service, Fitch
Ratings or the National Association of Insurance Commissioners of
Baa3, BBB-, or NAIC-2 or higher.
Contact: |
Matthew M. PartridgeSenior Vice President, Chief Financial Officer
& Treasurer(407) 904-3324mpartridge@alpinereit.com |
|
Alpine Income Property (NYSE:PINE)
Graphique Historique de l'Action
De Avr 2024 à Mai 2024
Alpine Income Property (NYSE:PINE)
Graphique Historique de l'Action
De Mai 2023 à Mai 2024