Alpine Income Trust Q1 FFO down 26.5% to $0.36; net income up on property sales

Alpine Income Property Trust, Inc.

2023-Q1 EPS reported $0.21 revenue$11,166,000

Net income attributable to PINE of $3.3M ($0.21/diluted share), up 314% YoY due to $4.5M gains on property sales.
FFO per diluted share $0.36 (down 26.5% YoY); AFFO per share $0.36 (down 25% YoY).
Total revenues $11.2M, up 3.4% YoY.
Sold 10 net lease properties for $56.2M at 6.1% exit cap rate; investment-grade tenant exposure rose to 58%.
Dividend declared $0.275/share, up 1.9% YoY; no floating-rate debt and no maturities until 2026.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Alpine Income Property Trust, Inc. reported the quarter ended March 31, 2023 results: revenue $ 11,166, net income $ 3,745, EPS $ 0.21.

Period: the quarter ended March 31, 2023
Revenue: $ 11,166
Net income: $ 3,745
EPS: $ 0.21
Result: reported results

Exact text from the filing

(in thousands, except per share data): Three Months Ended March 31, 2023 Three Months Ended March 31, 2022 Variance to Comparable Period in the Prior Year Total Revenues $ 11,166 $ 10,799 $ 367 3.4% Net Income $ 3,745 $ 924 $ 2,821 305.3% Net Income Attributable to PINE $ 3,339 $ 806 $ 2,533 314.3% Net Income per Diluted Share

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Source: SEC EDGAR

accession 0001558370-23-006329

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