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home / news releases / WBA - Alpine Income Property Trust: Climbing The Mountain (Rating Upgrade)

WBA - Alpine Income Property Trust: Climbing The Mountain (Rating Upgrade)

Walgreens Boots Alliance Inc.

2024-02-14 23:39:25 ET

Summary

  • Alpine's Q4 earnings looked a bit light, as anticipated, following the bankruptcy of a tenant, Mountain Express.
  • Management has made good progress backfilling Mountain Express' space and is now focused on high-grading its tenant base.
  • Significant share buybacks in Q4 have boosted our NAV per share estimate, which we now believe provides an attractive margin of safety.
  • With no debt maturities until 2026, we see limited capital markets risk for Alpine and feel comfortable upgrading it to a Buy.

Summary

For further details see:

Alpine Income Property Trust: Climbing The Mountain (Rating Upgrade)
Stock Information
Company Name: Walgreens Boots Alliance Inc.
Stock Symbol: WBA
Market: NASDAQ
Website: walgreens.com
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