Investment Thesis
Alpine Income Property Trust (PINE) is a fast-growing net lease real estate investment trust that isn't even yet a year old as a publicly traded company. The IPO completed in November 2019 and, since then, has expanded its portfolio of steady-eddy income properties greatly.
In the first half of 2020, it acquired $75.4 million worth of assets - a hefty sum for a company now with an enterprise value of $196.6 million. These acquisitions have raised annualized base rent by 40% this year.
Having announced 100% rent collection for the month of August