Alpine Income Property TrustNYSE: PINE

Although the revenue and EPS for Alpine Income (PINE) give a sense of how its business performed in the quarter ended September 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

Initiated a Strong Spec Buy on Alpine Income Property, with shares trading at $10.64 and a P/FFO of 9.5x. PINE has grown from 24 properties to 133, with ABR increasing from $13.3 million to $41.5 million, and 52% from IG-rated tenants. PINE's cost of capital is 150 bps higher than peers, yet it has grown AFFO through high cap rate acquisitions and asset recycling.

Alpine Income Property Trust, Inc.'s Q3 earnings beat estimates, leading to upgraded guidance for 2024. The REIT's portfolio occupancy has decreased, but the average rent per square foot has increased, and the weighted average lease terms have been extended. Alpine's income from its loan book surged, diversifying and smoothing its revenue, while operating expenses dropped due to lower impairment provisions.

Alpine Income Property Trust, Inc. (NYSE:PINE ) Q3 2024 Earnings Conference Call October 18, 2024 9:00 AM ET Company Participants John Albright - President, Chief Executive Officer, Director Phil Mays - Senior Vice President, Chief Financial Officer, Treasurer Conference Call Participants Michael Goldsmith - UBS RJ Milligan - Raymond James Wesley Golladay - Baird Rob Stevenson - Janney Montgomery Scott Matthew Erdner - Jones Trading John Massocca - B. Riley Securities Craig Kucera - Lucid Capital Markets Operator Good day!

Alpine Income (PINE) came out with quarterly funds from operations (FFO) of $0.45 per share, beating the Zacks Consensus Estimate of $0.40 per share. This compares to FFO of $0.37 per share a year ago.

Investors with an interest in REIT and Equity Trust - Other stocks have likely encountered both Alpine Income (PINE) and EastGroup Properties (EGP). But which of these two stocks is more attractive to value investors?

Alpine Income Property Trust, Inc. offers a well-covered 6.5% dividend yield, backed by a sub-70% payout ratio and a near-perfect 99% occupancy rate. Alpine's tenant base is strong, with 67% of rent from investment-grade tenants and long-term leases extending beyond 2032, ensuring stable cash flows. Despite elevated leverage at 7.4x EBITDA, PINE's liquidity, strategic asset locations, and growth opportunities mitigate financial risks.

WINTER PARK, Fla., Oct. 04, 2024 (GLOBE NEWSWIRE) -- Alpine Income Property Trust, Inc. (NYSE: PINE) (the “Company” or “PINE”) today announced that Mark O. Decker, Jr., has notified the Company of his resignation from the Company's Board of Directors, effective October 4, 2024.

Alpine Income (PINE) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #1 (Strong Buy).