Alpine Income Property Trust, Inc. reported its financial results for the first quarter of 2025, revealing total revenues of $14.2 million, a 14% increase from $12.5 million in the same period last year. The growth was primarily driven by a 3.2% rise in lease income, which reached $11.8 million, and a significant 154.8% increase in interest income from commercial loans and investments, totaling $2.3 million. However, the company experienced a net loss of $1.3 million, compared to a loss of $0.3 million in the prior year, largely due to a substantial increase in the provision for impairment, which rose to $2.0 million.
In terms of operational changes, Alpine Income Property Trust made notable strategic moves during the quarter. The company acquired three properties for a total cost of $39.9 million, while also selling three properties for $11.7 million, resulting in a gain of $1.2 million. As of March 31, 2025, the company owned 134 properties across 35 states, with a total gross leasable area of 4.1 million square feet and a portfolio occupancy rate of 99%. The company’s commercial loan investments portfolio also expanded, reaching a total carrying value of $110 million.
The company’s total assets increased to $647.4 million as of March 31, 2025, up from $605.0 million at the end of 2024. This growth was supported by a rise in long-term debt, which increased to $356.5 million from $301.5 million, reflecting the financing of property acquisitions and investments. The company’s cash and cash equivalents also improved, totaling $6.1 million, alongside $5.4 million in restricted cash.
Alpine Income Property Trust's operational metrics indicate a focus on growth and expansion, with a strategic emphasis on acquiring properties that align with favorable macroeconomic trends. The company’s management remains optimistic about future performance, citing a robust pipeline of potential acquisitions and a commitment to enhancing shareholder value through strategic investments and prudent financial management. The outlook for the remainder of 2025 suggests continued focus on expanding the portfolio while managing operational costs effectively.
About Alpine Income Property Trust, Inc.
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