Alpine Income: Q4 Earnings Snapshot

Posted 2/8/24

WINTER PARK, Fla. (AP) — WINTER PARK, Fla. (AP) — Alpine Income Property Trust, Inc. (PINE) on Thursday reported a key measure of profitability in its fourth quarter. The results met Wall Street …

You must be a member to read this story.

Join our family of readers for as little as $5 per month and support local, unbiased journalism.


Already have an account? Log in to continue. Otherwise, follow the link below to join.

Please log in to continue

Log in
I am anchor

Alpine Income: Q4 Earnings Snapshot

Posted

WINTER PARK, Fla. (AP) — WINTER PARK, Fla. (AP) — Alpine Income Property Trust, Inc. (PINE) on Thursday reported a key measure of profitability in its fourth quarter. The results met Wall Street expectations.

The Winter Park, Florida-based real estate investment trust said it had funds from operations of $5.6 million, or 37 cents per share, in the period.

The average estimate of five analysts surveyed by Zacks Investment Research was for funds from operations of 37 cents per share.

Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.

The company said it had net income of $335,000, or 2 cents per share.

Alpine Income, based in Winter Park, Florida, posted revenue of $11.6 million in the period, missing Street forecasts. Four analysts surveyed by Zacks expected $11.7 million.

For the year, the company reported funds from operations of $22.9 million. Revenue was reported as $45.6 million.

Alpine Income expects full-year funds from operations to be $1.51 to $1.56 per share.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PINE at https://www.zacks.com/ap/PINE

Comments

x