Alpine Income Property Trust ( NYSE: PINE ) on Thursday has boosted its full-year outlook in adjusted FFO after the REIT's Q2 earnings came in above Wall Street expectations.
Going forward, "we anticipate continued capital recycling in the third quarter that should deliver attractive net investment spreads and improved earnings growth, all while incrementally deleveraging our balance sheet and enhancing our overall portfolio quality," said CEO and President John P. Albright.
For 2022, the REIT is expecting adjusted funds from operations of $1.58-1.63 per share, compared with $1.53-1.58 in the prior view.
Acquisitions for 2022 are anticipated to be $215M-235M vs. $215M-250M in the previous outlook.
And the company sees dispositions of $125M-175M this year, up from $75M-100M in the previous guidance.
Looking at the second quarter, adjusted FFO of $0.47 breezed past the average analyst estimate of $0.32 and climbed from $0.39 in Q2 2021.
Revenue/lease income of $11.3M also topped the consensus of $10.98M and rose from $6.6M in the year-ago period.
Operating expenses of $8.46M at June 30 gained from $5.6M at June 30, 2021.
Conference call on July 22 at 9:00 a.m. ET.
Towards the end of May, Alpine Income Property Trust declared a quarterly dividend of $0.27 per share .
For further details see:
Alpine Income Property raises 2022 AFFO guidance after robust Q2 earnings