PINE Q4 AFFO $0.44/share; dividend raised to $0.285 quarterly; 17% AFFO growth in 2024

Alpine Income Property Trust, Inc.

2024-FY EPS reported $0.14 revenue$52,227,000

Q4 net loss $0.06/diluted share; FFO $0.44, AFFO $0.44 per share.
Full-year 2024 AFFO per share $1.74 (up 16.8% YoY); total revenues $52.2M (14% increase).
Closed $134.7M in investments at 8.7% cash yield; sold $75.6M at 7.1% cap rate.
Q1 2025 dividend increased to $0.285/share (annualized $1.14); AFFO payout ratio 64%.
Reduced Walgreens exposure; weighted average lease term extended to 8.7 years; net debt/EBITDA 7.4x.

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