This Fast-Growing Net Lease REIT Is Ready for Prime Time
Alpine Income Property Trust (NYSE: PINE) was spun out of CTO Realty Growth (NYSE: CTO) in late 2019. That was just in time for the the real estate investment trust (REIT) to deal with the headwinds of the coronavirus pandemic, muddying the long-term picture for a small, brand-new REIT. As the world learns to live with the coronavirus, however, Alpine has materially changed its business for the better. Here's why this REIT is now ready for prime time.
Holding an initial public offering (IPO) just a few months before the coronavirus started its march across the globe wasn't something for which Alpine could have prepared. But it had to deal with the headwind just the same. What's interesting is that the REIT didn't skip a beat, increasing its dividend in both 2020 and 2021 and growing its portfolio.
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Source Fool.com
