NYSE$PINE
Alpine Income Property Trust Inc · Q1 2020 earnings
Q1 2020 earnings · · Investor relations
Briefing
Alpine Income Property Trust reported operating results for the quarter ended March 31, 2020.
Alpine Income Property Trust reported total revenues of $4,171,311 and net income attributable to Alpine Income Property Trust, Inc. of $12,669 for the quarter ended March 31, 2020. The company acquired nine single-tenant income properties for approximately $47.0 million.
- Acquired nine single-tenant income properties for approximately $47.0 million with a weighted average investment cap rate of 7.1%.
- Repurchased approximately 352,000 shares for approximately $3.8 million under the new $5 million buyback program.
- Paid a First Quarter 2020 Dividend of $0.20 per share on March 31, 2020.
- Drew $20 million on credit facility as a precautionary measure due to COVID-19.
Headline financials
Revenue & EPS history
Alpine Income Property Trust · Revenue · Quarterly
$4.17M
Revenue by segment
Alpine Income Property Trust · $30.8M total across 11 segments · Q2 2023
- Home Improvement$4.96M—16.1%
- Dollar Stores$4.96M—16.1%
- Pharmacy$4.96M—16.1%
- Sporting Goods$4.6M—14.9%
- Home Furnishings$2.62M—8.5%
- Consumer Electronics$2.3M—7.5%
- Grocery$1.99M—6.5%
- Entertainment$1.99M—6.5%
- Off-Price Retail$1.59M—5.2%
- Casual Dining$399K—1.3%
- Other$399K—1.3%
Forward guidance
Due to the uncertainties created by the COVID-19 Pandemic, the Company temporarily suspended its activities directed at identifying additional acquisition opportunities and withdrew its previously provided guidance for the full year of 2020, including its targeted level of acquisitions totaling up to $120 million.
Tailwinds
- The Company believes certain of the programs available under the Coronavirus Aid, Relief, and Economic Security Act may provide tenants with the ability to obtain proceeds from loans provided by the federal government which could provide liquidity that would allow the tenant to pay its near-term rent.
- 24 properties have remained open since the onset of the COVID-19 Pandemic, with 11 of those properties operating on a limited basis.
- As of March 31, 2020, has approximately $22 million in cash on hand with approximately $57 million outstanding on the credit facility.
- The total borrowing capacity on the credit facility, based on the assets currently in the borrowing base, is approximately $87 million, and as such the Company has the ability to draw an additional $30 million on the credit facility.
- Subsequent to March 31, 2020, as a result of adding the first quarter 2020 acquisitions to the borrowing base, we anticipate the borrowing base will increase the borrowing capacity to the $100 million commitment on the facility.
Headwinds
- The spread of the COVID-19 Pandemic has caused significant volatility in the U.S. and international markets and, in many industries, business activity has virtually shut down entirely.
- There is significant uncertainty around the duration and severity of business disruptions related to the COVID-19 Pandemic, as well as its impact on the U.S. economy and international economies.
- The Company is not yet able to determine the full impact on its operations and therefore the potential that such impact will be material.
- The Company temporarily suspended its activities directed at identifying additional acquisition opportunities.
- The Company withdrew its previously provided guidance for the full year of 2020, including its targeted level of acquisitions totaling up to $120 million.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2020
+1.4%
Avg return
Earnings day
+1.0%
Avg return
5 days after
+0.4%
Avg return
30 days after
60%
15 / 25 earnings
Positive
+13.8%
Q1 2020
Best reaction
-12.7%
Q3 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.2% | -2.9% | -2.8% | |
| Q4 2025 | +6.3% | +5.7% | +5.7% | |
| Q3 2025 | -0.4% | +4.0% | +20.0% | |
| Q2 2025 | -0.4% | +1.6% | +0.1% | |
| Q1 2025 | -4.9% | -5.1% | -8.5% | |
| Q4 2024 | -6.4% | -7.1% | -4.3% | |
| Q3 2024 | +3.2% | +1.5% | -1.5% | |
| Q2 2024 | -0.8% | +2.1% | +2.2% | |
| Q1 2024 | +2.0% | +6.1% | +8.6% | |
| Q4 2023 | +2.0% | +1.6% | +3.7% | |
| Q3 2023 | -12.7% | -11.1% | -3.1% | |
| Q2 2023 | +2.2% | +2.5% | +2.3% | |
| Q1 2023 | +1.0% | -0.4% | -1.8% | |
| Q4 2022 | +2.1% | -3.8% | -17.7% | |
| Q3 2022 | +2.1% | +7.1% | +10.4% | |
| Q2 2022 | +3.2% | +5.0% | +1.7% | |
| Q1 2022 | -0.4% | -0.6% | -6.5% | |
| Q4 2021 | -0.3% | -3.4% | -1.5% | |
| Q2 2021 | -0.3% | -3.7% | -9.8% | |
| Q1 2021 | +2.1% | +0.0% | -0.1% | |
| Q4 2020 | +8.0% | +7.8% | +3.4% | |
| Q3 2020 | +10.1% | +4.2% | +7.3% | |
| Q2 2020 | +3.6% | +1.2% | +0.9% | |
| Q1 2020 | +13.8% | +11.7% | +8.5% | |
| Q4 2019 | +0.4% | +0.3% | -7.7% | |
| Q3 2019 | — | — | — | |
| Q2 2019 | — | — | — | |
| Q1 2019 | — | — | — | |
| Q4 2018 | — | — | — | |
| Q3 2018 | — | — | — | |
| Q2 2018 | — | — | — | |
| Q1 2018 | — | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro