Alpine Income Property Trust (NYSE:PINE) First Quarter 2024 Results
Key Financial Results
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Revenue: US$12.5m (up 12% from 1Q 2023).
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Funds from operations (FFO): US$6.13m (up 8.9% from 1Q 2023).
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FFO margin: 49% (down from 50% in 1Q 2023).
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FFO per share: US$0.4.
All figures shown in the chart above are for the trailing 12 month (TTM) period
Alpine Income Property Trust Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 7.0%. Earnings per share (EPS) also surpassed analyst estimates.
Looking ahead, revenue is forecast to grow 1.7% p.a. on average during the next 3 years, compared to a 3.3% growth forecast for the REITs industry in the US.
Performance of the American REITs industry.
The company’s shares are down 2.4% from a week ago.
Risk Analysis
Before we wrap up, we’ve discovered 3 warning signs for Alpine Income Property Trust (2 are a bit concerning!) that you should be aware of.
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