DAYTONA BEACH, Fla., Dec. 06, 2019 (GLOBE NEWSWIRE) -- Alpine Income Property Trust, Inc. (NYSE: PINE) (the “Company”) announced today that its Board of Directors has authorized and declared a cash dividend of $0.058 per share of common stock for the fourth quarter of 2019. The dividend is payable on December 31, 2019 to stockholders of record as of the close of business on December 20, 2019. The dividend is based on the nineteen day period from the closing of the Company’s initial public offering through the record date and equates to an annualized dividend of $0.80 per share of common stock.
About Alpine Income Property Trust, Inc.
Alpine Income Property Trust, Inc. is a publicly traded real estate investment trust that acquires, owns and operates a portfolio of high-quality single-tenant net lease commercial properties, all of which are leased on a long-term basis and located primarily in or in close proximity to major metropolitan statistical areas. The Company’s portfolio consists of freestanding net lease assets, occupied by tenants operating in 13 industries across 15 markets and in 10 states.
This press release may contain “forward-looking statements.” Forward-looking statements include statements that may be identified by words such as “could,” “may,” “might,” “will,” “likely,” “anticipates,” “intends,” “plans,” “seeks,” “believes,” “estimates,” “expects,” “continues,” “projects” and similar references to future periods, or by the inclusion of forecasts or projections. Forward-looking statements are based on the Company’s current expectations and assumptions regarding capital market conditions, the Company’s business, the economy and other future conditions. Because forward-looking statements relate to the future, by their nature, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. As a result, the Company’s actual results may differ materially from those contemplated by the forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include general business and economic conditions, continued volatility and uncertainty in the credit markets and broader financial markets, risks inherent in the real estate business, including tenant defaults, potential liability relating to environmental matters, illiquidity of real estate investments and potential damages from natural disasters, and other factors set forth under “Risk Factors” in the Company’s registration statement on Form S-11, as amended from time to time. Any forward-looking statement made in this press release speaks only as of the date on which it is made. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.
|Contact:||Mark E. Patten, Sr. Vice President & Chief Financial Officer |
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