Alpine Income: Fourth Quarter Earnings Overview
Alpine Income Property Trust Surpasses Earnings Expectations in Q4
Alpine Income Property Trust, Inc. (PINE), headquartered in Winter Park, Florida, announced its fourth-quarter financial results on Thursday, revealing stronger-than-anticipated profitability.
During the quarter, the real estate investment trust reported funds from operations totaling $8.5 million, which translates to 54 cents per share.
This performance exceeded the consensus forecast of four analysts polled by Zacks Investment Research, who had predicted funds from operations of 49 cents per share.
Funds from operations is a key metric for REITs, as it adjusts net income by adding back non-cash expenses like depreciation and amortization.
Alpine Income also reported a net income of $921,000, or 6 cents per share, for the quarter.
The company’s revenue reached $16.9 million, outpacing the $15.9 million estimate from analysts surveyed by Zacks.
For the full year, Alpine Income reported $29.3 million in funds from operations and total revenue of $60.5 million.
Looking ahead, the company projects its annual funds from operations to fall between $2.07 and $2.11 per share.
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