Alpine Income's 2024 Investment Activity Reaches $134.7 Million

Zacks01-03

Alpine Income Property Trust PINE announced the acquisition of a property leased to Lowe’s Home Improvement LOW in Knoxville, TN, alongside a strong year-end summary of its investment and disposition ...

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PINE’s portfolio metrics at year-end 2024 reflect a stronger, more resilient foundation. Approximately 51% of ABR now comes from investment-grade tenants, providing greater cash flow stability. Additionally, the weighted average remaining lease term increased from 7.0 years at the start of the year to 8.8 years, extending income visibility and reducing near-term renewal risk.Shares of this Zacks Rank #1  company have rallied 9.8% in the past six months, outperforming the real estate market’s upside of 7.3%. You can see the complete list of today’s Zacks #1 Rank stocks here.The recent estimate revision trends also mark a bullish view of analysts, with the consensus estimate for funds from operations  per share being revised upward over the past month for both 2024 and 2025.Want the latest recom","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4588":"碎股","DKS":"迪克体育用品","PINE":"Alpine Income Property Trust, Inc.","LU2237443382.USD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A MIncA USD","LU0942090050.USD":"UBS (LUX) EQUITY SICAV - US TOTAL YIELD SUSTAINABLE \"P\" (USD)  INC","LU0312595415.SGD":"Schroder ISF Global Climate Change Equity A Acc SGD","LU2237443549.SGD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A MIncA SGD-H","WBA":"沃尔格林联合博姿","LU2237443465.HKD":"abrdn SICAV I -  GLOBAL DYNAMIC DIVIDEND \"A\" (HKD) INC","BK4083":"家庭装潢零售","LU2237443622.USD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A Acc USD","LU0868494708.USD":"UBS (LUX) EQUITY SICAV - US TOTAL YIELD SUSTAINABLE \"P\" (USD) INC","LU2237443978.SGD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A Acc SGD-H","LU0321505868.SGD":"Schroder ISF Global Dividend Maximiser A Dis SGD","LU0321505439.SGD":"Schroder ISF Global Dividend Maximiser A Acc SGD","BK4581":"高盛持仓","LU2275660780.HKD":"SCHRODER ISF GLOBAL CLIMATE CHANGE EQUITY \"A\" (HKD) ACC","BK4504":"桥水持仓","BK4110":"抵押房地产投资信托","LOW":"劳氏","BK4200":"专卖店","BK4597":"股息贵族","LU0868494617.USD":"UBS (LUX) EQUITY SICAV - US TOTAL YIELD SUSTAINABLE \"P\" (USD) ACC","LU0302445910.USD":"SCHRODER ISF GLOBAL CLIMATE CHANGE EQUITY \"A\" ACC","BK4532":"文艺复兴科技持仓","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC","IE0034235188.USD":"PINEBRIDGE GLOBAL FOCUS EQUITY \"A\" (USD) ACC","BK4160":"多样化房地产投资信托v","LU1074936037.SGD":"JPMorgan Funds - US Value A (acc) SGD","ABR":"阿伯房地产信托","BK4585":"ETF&股票定投概念","BK4534":"瑞士信贷持仓","BK4128":"药品零售","BK4533":"AQR资本管理(全球第二大对冲基金)","LU2237443895.HKD":"abrdn SICAV I -  GLOBAL DYNAMIC DIVIDEND \"A\" (HKD) ACC"},"translate_title":"Alpine Income 2024年投资活动达到1.347亿美元","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"WBA":1,"ABR":1,"LOW":1,"DKS":1,"PINE":0.9},"content_text":"Alpine Income Property Trust PINE announced the acquisition of a property leased to Lowe’s Home Improvement LOW in Knoxville, TN, alongside a strong year-end summary of its investment and disposition activities.PINE’s $22.5 million purchase of the Lowe’s property in December 2024 reflects the company’s focus on acquiring properties with long lease terms and strong tenant creditworthiness. The lease, which extends for approximately 13 years, ensures stable cash flow from an investment-grade tenant with an S&P rating of BBB+. With this acquisition, Lowe’s becomes PINE’s second-largest tenant based on annual base rent (ABR), further bolstering its tenant roster alongside Dick’s Sporting Goods DKS, the largest tenant with BBB rating from S&P.For the full year 2024, PINE completed $134.7 million in investments, achieving a weighted average initial investment yield of 8.7%. This performance underscores management’s ability to identify and secure high-quality assets at attractive valuations, driving long-term shareholder value.PINE’s active portfolio management strategy was equally evident on the disposition side, where the company executed $75.6 million in property and structured investment sales at a weighted average exit cash cap rate of 6.6%. Particularly in December, the company sold a Walgreens WBA property, a former Mountain Express convenience store, and an AutoZone location. These sales not only freed up capital for reinvestment but also reduced Walgreens’ contribution to ABR, from the largest tenant at the start of 2024 to the fourth-largest by year-end.\nWrapping Up\nBy reallocating resources from lower-growth properties to stronger-performing assets, PINE continues to align its portfolio with tenants offering greater financial stability and growth potential. PINE’s portfolio metrics at year-end 2024 reflect a stronger, more resilient foundation. Approximately 51% of ABR now comes from investment-grade tenants, providing greater cash flow stability. Additionally, the weighted average remaining lease term increased from 7.0 years at the start of the year to 8.8 years, extending income visibility and reducing near-term renewal risk.Shares of this Zacks Rank #1 (Strong Buy) company have rallied 9.8% in the past six months, outperforming the real estate market’s upside of 7.3%. You can see the complete list of today’s Zacks #1 Rank stocks here.\nImage Source: Zacks Investment Research\nThe recent estimate revision trends also mark a bullish view of analysts, with the consensus estimate for funds from operations (FFO) per share being revised upward over the past month for both 2024 and 2025.\nNote: Anything related to earnings presented in this write-up represents FFO, a widely used metric to gauge the performance of REITs.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nLowe's Companies, Inc. (LOW) : Free Stock Analysis Report\nDICK'S Sporting Goods, Inc. (DKS) : Free Stock Analysis Report\nWalgreens Boots Alliance, Inc. (WBA) : Free Stock Analysis Report\nAlpine Income Property Trust, Inc. (PINE) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.4","shortVersion":"4.29.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2500514110"}