Alpine Income Property Trust Reports Strong Q4 Results
Winter Park, Fla.
Alpine Income Property Trust, Inc. (PINE) reported favorable fourth-quarter earnings, surpassing Wall Street expectations. The real estate investment trust (REIT) announced funds from operations (FFO) of $7 million, or 44 cents per share, exceeding the consensus analyst estimate of 42 cents per share.
FFO, a crucial metric in the REIT industry, reflects net income plus non-cash items like depreciation and amortization. Despite a loss of $958,000 (or 6 cents per share), Alpine Income generated revenue of $13.8 million, outperforming the forecasted $13.5 million.
For the full year, the company reported FFO of $26.1 million and revenue of $52.2 million. Alpine Income projects full-year FFO in the range of $1.70 to $1.73 per share.