Alpine Income Property reports Q1 AFFO 42c, consensus 38c

Reports Q1 revenue $12.47M, consensus $11.71M. “We are pleased that our earnings and portfolio will benefit from our origination of a high yielding $7.2 million first mortgage, Chick-fil-A anchored pad site development, which we closed in the first quarter of 2024,” said John Albright, president and CEO of Alpine Income Property Trust. “While we were actively pursuing traditional acquisitions, we have found sellers reluctant to transact at prices that reflect the current interest rate environment. We are anticipating that the market for traditional acquisitions will become more attractive as the markets continue to adjust to higher for longer rates.”