Alpine Income Property reports Q4 AFFO 44c, consensus 42c

Reports Q4 revenue $13.79M, consensus $13.52M. “We completed a robust year growing AFFO per share by 17%, permitting us to once again increase our dividend while maintaining a well-covered payout ratio,” said John Albright, president and CEO of Alpine Income Property (PINE) Trust. “Our growth was driven by accretive recycling as we closed over $130 million in investments at an 8.7% yield, while selectively pruning our portfolio with over $75 million in dispositions at a 7.1% cap rate. Further, we reduced exposure to Walgreens and increased our weighted average remaining lease term to 8.7 years.”