2023-04-20 16:15:15 ET
- Alpine Income Property Trust press release ( NYSE: PINE ): Q1 FFO of $0.36 misses by $0.01 .
- Revenue of $11.17M (+3.4% Y/Y) misses by $0.63M .
- Sold 10 net lease properties during the first quarter of 2023 for total disposition volume of $56.2 million at a weighted average exit cash cap rate of 6.1%, generating total gains of $4.5 million.
- Increased investment grade-rated tenant exposure to 58% as of March 31, 2023, up from 50% as of March 31, 2022.
- Paid a cash dividend for the first quarter of 2023 of $0.275 per share, a 1.9% increase from the comparable prior year period quarterly dividend, representing an annualized yield of 6.9% based on the closing price of the Company’s common stock on April 19, 2023.
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Alpine Income Property Trust FFO of $0.36 misses by $0.01, revenue of $11.17M misses by $0.63M