Alpine Income Property Trust Lifts 2026 Investment Outlook to $170M–$200M
Alpine Income Property Trust invested $73.9 million at a 14.1% blended initial yield in Q1 and raised $36 million through ATM equity programs. It boosted full-year 2026 investment guidance to $170 million–$200 million and raised AFFO per diluted share outlook to $2.11–$2.15.
1. Q1 Financial Results
Total revenues for the quarter reached $18.4 million, up from $14.2 million a year earlier, driving net income of $2.2 million versus a $1.2 million loss. FFO attributable to common stockholders rose to $8.9 million, or $0.53 per diluted share, matching AFFO of $0.53 per share.
2. Investment and Yield Performance
The company deployed $73.9 million across four investments, achieving a weighted average initial yield of 14.1% (8.5% for property and 15.0% for loans). Management highlighted a robust acquisition pipeline that underpins the raised investment outlook.
3. Capital Raising and Updated Guidance
During the quarter, $36 million of common and preferred equity was raised via ATM programs alongside a recast of the credit facility. As a result, full-year 2026 investment guidance was increased to $170 million–$200 million and AFFO per diluted share guidance was raised to $2.11–$2.15.
4. Portfolio Composition
As of March 31 the portfolio comprised 125 single-tenant net lease properties totaling 4.3 million square feet with 99.5% occupancy and a 9.3-year weighted average lease term. The top tenants include Lowe’s (12% of ABR), Dick’s Sporting Goods (10%), and Beachside Hospitality Group (8%).