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PINE

Alpine Income Property Trust, Inc.

PINE

Alpine Income Property Trust, Inc. • NYSE
$17.34 ▲ 0.06% (+0.01)
Market Cap $245.62 M
52w High $17.99
52w Low $13.10
Dividend Yield 1.14%
P/E -48.17
Volume 63.62K
Outstanding Shares 14.16M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $14.563M ▼ $9.171M ▼ $-1.31M ▲ -8.995% ▲ $-0.092 ▲ $9.084M ▼
Q2-2025 $14.863M ▲ $10.267M ▲ $-1.641M ▼ -11.041% ▼ $-0.12 ▼ $11.061M ▲
Q1-2025 $14.206M ▲ $9.903M ▲ $-1.179M ▼ -8.299% ▼ $-0.081 ▼ $10.456M ▲
Q4-2024 $13.791M ▲ $8.493M ▲ $-958K ▼ -6.947% ▼ $-0.066 ▼ $7.836M ▼
Q3-2024 $13.48M $4.127M $3.08M 22.849% $0.22 $12.8M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $1.183M ▼ $621.424M ▼ $376.207M ▼ $223.529M ▼
Q2-2025 $5M ▼ $628.446M ▼ $376.359M ▼ $229.845M ▼
Q1-2025 $6.138M ▲ $647.397M ▲ $383.612M ▲ $240.949M ▼
Q4-2024 $1.578M ▼ $604.995M ▲ $328.5M ▲ $253.027M ▲
Q3-2024 $2.56M $578.986M $307.032M $248.242M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-1.423M ▲ $8.73M ▲ $-15.334M ▼ $1.115M ▲ $-5.489M ▼ $-18.445M ▼
Q2-2025 $-1.641M ▼ $6.978M ▼ $6.274M ▲ $-12.697M ▼ $555K ▼ $6.627M ▼
Q1-2025 $-1.278M ▼ $7.901M ▲ $-50.166M ▲ $45.886M ▲ $3.621M ▲ $7.901M ▲
Q4-2024 $-958K ▼ $4.527M ▼ $-50.322M ▼ $25.691M ▲ $-20.104M ▼ $-47.474M ▼
Q3-2024 $3.354M $6.214M $-1.908M $17.353M $21.659M $-363K

Revenue by Products

Product Q1-2025Q2-2025Q3-2025
Income Properties
Income Properties
 $10.00M ▲$10.00M ▲$10.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown from a very small base to a modest, steady level and has been relatively flat for the last few years. Profitability is positive at the operating level, but net income has recently hovered around breakeven after a stronger year in the middle of the period. This pattern suggests that while the underlying rental business is stable, items such as interest costs, non‑cash charges, or deal activity can swing the bottom line. Overall, income quality looks consistent, but earnings are not yet on a clear, smooth upward path.

Balance Sheet

Balance Sheet The balance sheet has expanded meaningfully as the property portfolio has grown. Debt has increased along with total assets, and equity has also risen, indicating that growth is being funded by a mix of borrowing and new capital. Leverage appears meaningful but not extreme for a REIT, with limited cash on hand, so access to credit lines and capital markets remains important. The company is still in a build‑out phase rather than a mature, de‑levering stage.

Cash Flow

Cash Flow Cash generated from the core property operations has been steady and gradually improving, which supports the idea of a resilient rent base. Free cash flow has been generally positive except during a period of heavy investment, when significant spending on new properties temporarily pushed it negative. This fits a REIT that is actively growing: cash in from rents is reliable, but large acquisition and development outlays can create lumpiness in overall cash flow.

Competitive Edge

Competitive Edge PINE operates in the net‑lease retail niche, leaning heavily on long‑term leases with well‑known, generally strong tenants. The focus on high‑quality counterparties and long contract terms creates stability and reduces default risk, which is a competitive strength. Its barbell strategy—mixing very safe income properties with higher‑yield, opportunistic deals—offers some return upside versus more conservative peers, but also adds select risk. As a smaller REIT, scale and tenant diversification are still developing, which can be a competitive challenge against larger, better‑known platforms.

Innovation and R&D

Innovation and R&D Innovation for PINE is strategic rather than technological. It relies on data‑driven site selection, careful tenant quality screening, and an active capital recycling program to improve the portfolio over time. The external management relationship with a larger REIT provides sourcing and expertise that many companies of its size lack, and its willingness to use structured loans adds a differentiated income stream. There is limited traditional R&D, but there is clear emphasis on refining the investment model and using information to gain an edge in property selection and capital allocation.

Summary

PINE is a relatively young, growing net‑lease retail REIT with a steadily expanding asset base and a focus on high‑quality, long‑term tenants. Its operating cash flows are stable, though reported earnings have been uneven as growth investments and financing costs move around. The balance sheet shows meaningful but typical REIT leverage, with growth funded by both debt and equity. Strategically, the company differentiates itself through disciplined, data‑driven acquisitions, active portfolio pruning, and some structured lending activity. Key things to monitor are tenant concentration, interest‑rate sensitivity, the execution of its growth pipeline, and how its external management arrangement evolves as it scales.

NEWS

November 20, 2025 · 6:55 AM UTC

Alpine Income Property Trust Acquires Property Anchored by Walmart and TJ Maxx for $20.7 Million

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November 18, 2025 · 4:05 PM UTC

Alpine Income Property Trust Declares Dividends for the Fourth Quarter 2025

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November 14, 2025 · 6:55 AM UTC

CTO Realty Growth Provides Leasing Update at the Shops at Legacy

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November 12, 2025 · 6:55 AM UTC

Alpine Income Property Trust Acquires Sam's Club for $15.4 Million

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November 5, 2025 · 5:55 PM UTC

Alpine Income Property Trust Announces Pricing of Public Offering of 8.00% Series A Cumulative Redeemable Preferred Stock

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