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Neutral View On Alpine Income Property Trust As There Are Better Alternatives (NYSE:PINE)

3D character walking on the road leading to many different paths with open doors. Decisions concept

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Investment Thesis

The ongoing market conditions significantly limited Alpine Income Property Trust’s (NYSE:PINE) ability to grow acquisition-wise during the 2023 – 2024 YTD period. The management presented a coherent investment strategy reflected in PINE’s business decisions that the Company intends

PINENTSTADCNNN
Number of properties1386282 1613 546

Entity20202021202220232024E (on midpoint)
PINE$ 1.04$ 1.59$ 1.77$ 1.49$ 1.555
NTST$ 0.69$ 0.94$ 1.16$ 1.22$ 1.265
ADC$ 3.20$ 3.51$ 3.83$ 3.95$ 4.12
NNN$ 2.51$ 3.06$ 3.21$ 3.26$ 3.32

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