Alpine Income Property Trust Q3 FFO $0.37, dividend up 27.5% to $0.255/share

Alpine Income Property Trust, Inc.

2021-Q3 EPS reported $0.16 revenue$20,658,000

Net income attributable to PINE per diluted share $0.07; FFO $0.37 (+5.7% YoY); AFFO $0.37 (+8.8% YoY).
Total revenues $8.17M, up 60.2% YoY; net income $1.06M, up 66% YoY.
Acquired 19 net-lease properties for $55.4M at 6.8% cap rate; sold one for $3.8M at 5.5% cap.
Entered new 5-year $80M unsecured term loan at 1.83% fixed, maturing Jan 2027.
Paid Q3 dividend $0.255/share, up 27.5% YoY; annualized yield 5.4% based on Oct 20 close.

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