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Alpine Income Property Trust Reports Second Quarter 2021 Operating Results ir.alpinereit.com/news-events/news/news-details/2021/Alpine-Income-Property-Trust-Reports-Second-Quarter 2021 - Operating - Results / default.aspx Company Release - 07/22/2021 DAYTONA BEACH , Fla . , July 22 , 2021 ( GLOBE NEWSWIRE ) -- Alpine Income Property Trust , Inc. ( NYSE : PINE ) ( the “ Company " or " PINE " ) today announced its operating results and earnings for the quarter ended June 30 , 2021 . Select Highlights ■ Reported FFO per diluted share of $ 0.38 for the quarter ended June 30 , 2021 , an increase of 31.0 % from the comparable prior year period . ▪ Reported AFFO per diluted share of $ 0.39 for the quarter ended June 30 , 2021 , an increase of 143.8 % from the comparable prior year period . During the second quarter of 2021 , the Company acquired 18 net lease properties for total acquisition volume of $ 81.3 million , reflecting a weighted - average going - in cash cap rate of 7.3 % . ▪ Entered into a new 5 - year , $ 60.0 million unsecured term loan agreement with an initial fixed interest rate of 2.16 % and a maturity date of May 2026 . Completed inaugural follow - on underwritten public offering , issuing 3,220,000 shares of the Company's common stock at a price per share of $ 17.80 , generating net proceeds of $ 54.3 million . Reported Net Income per diluted share attributable to the Company of $ 0.03 for the quarter ended June 30 , 2021 . ■ ▪ Issued 424,951 operating partnership units ( " OP Units " ) at an $ 18.85 per OP Unit value for a total value of $ 8.0 million in connection with the acquisition of a diversified portfolio of retail net lease properties . ■ Paid a cash dividend for the second quarter of 2021 of $ 0.25 per share , an increase of 25.0 % from the comparable prior year period . ▪ The Company is revising its practice of declaring a quarterly cash common stock dividend concurrent with its quarterly earnings and instead anticipates announcing its quarterly cash common stock dividend for the third quarter of 2021 and for future periods at the end of the second month of the respective quarter . Quarterly Operating Results Highlights The table below provides a summary of the Company's operating results for the quarter ended June 30 , 2021 ( in thousands , except per share data ) : 1/17