Alpine Income Property: A Strong Case For M&A [Seeking Alpha]
Alpine Income Property Trust, Inc. (PINE)
Last alpine income property trust, inc. earnings: 4/27 04:22 pm
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Source: Seeking Alpha
Follow Play 11min Summary Initiated a Strong Spec Buy on Alpine Income Property (PINE) 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. Given PINE's smaller size and external management, M&A with larger REITs or private equity is a solid possibility for enhanced upside. Richard Drury/DigitalVision via Getty Images I've been covering Alpine Income Property ( NYSE: PINE ) since the company spun its freestanding properties from CTO Realty ( CTO ). In my first article (on PINE) I explained. “We are initiating a Strong Spec Buy rating Introducing iREIT® Join iREIT® on Alpha today to get the most in-depth research that includes REITs, mREIT, Preferreds, BDCs, MLPs, ETFs, Builders, and Asset Managers. Our iRE
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PINE
News
- What Makes Alpine Income (PINE) a New Strong Buy Stock [Yahoo! Finance]Yahoo! Finance
- Best Income Stocks to Buy for November 21st [Yahoo! Finance]Yahoo! Finance
- Best Value Stocks to Buy for November 21st [Yahoo! Finance]Yahoo! Finance
- Alpine Income Property Trust Declares Dividend For the Fourth Quarter 2024GlobeNewswire
- Alpine Income Property Trust Announces Changes to Board of DirectorsGlobeNewswire
PINE
Earnings
- 10/17/24 - Beat
PINE
Sec Filings
- 11/18/24 - Form 4
- 11/14/24 - Form 3
- 11/14/24 - Form 144
- PINE's page on the SEC website