PINE Q2 2022 net income $1.05/diluted share, FFO up 23.7% YoY to $0.47

Alpine Income Property Trust, Inc.

2022-Q2 EPS reported $1.12 revenue$22,079,000

Net income attributable to PINE of $14.3M ($1.05/diluted share) vs $0.3M ($0.03) in Q2 2021.
FFO per diluted share $0.47, up 23.7% YoY; AFFO per diluted share $0.47, up 20.5% YoY.
Acquired 19 retail properties for $43.6M at 7.0% cap rate; sold 5 properties for $72.8M.
Quarterly dividend increased 8% to $0.27/share, implying 6.0% annualized yield.
Company raised full-year 2022 earnings guidance, citing strong capital recycling.

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