PINE Q3 net loss ($0.05)/share; FFO -7.5%; guidance lowered on tenant bankruptcy, higher borrowing costs

Alpine Income Property Trust, Inc.

2023-Q3 EPS reported $0.16 revenue$34,063,000

Net loss per diluted share ($0.05) vs prior-year income $0.72; revenue flat at $11.6M.
FFO per share $0.37 (-7.5% YoY); AFFO $0.38 (-9.5% YoY).
Acquired 3 retail properties at 9.0% cap; sold 8 at 6.3% cap, generating $2.6M gains.
Repurchased 280K shares for $4.7M at avg $16.78; dividend unchanged at $0.275/sh.
Guidance reduced citing slower investment timing, a tenant bankruptcy, and increased borrowing costs.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Alpine Income Property Trust, Inc. reported the quarter ended September 30, 2023 results: revenue $11,559, net income $(939), EPS $(0.05). Guidance reaffirmed.

Period: the quarter ended September 30, 2023
Revenue: $11,559
Net income: $(939)
EPS: $(0.05)
Guidance: reaffirmed
Result: reported results

Exact text from the filing

thousands, except per share data): Three Months Ended September 30, 2023 Three Months Ended September 30, 2022 Variance to Comparable Period in the Prior Year Total Revenues $ 11,559 $ 11,520 $ 39 0.3% Net Income (Loss) $ (939) $ 11,170 $ (12,109) (108.4%) Net Income (Loss) Attributable to PINE $ (837) $ 9,770 $ (10,607) (108.6%) Net

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Source: SEC EDGAR

accession 0001558370-23-016545

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