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Alpine Income Property Trust (PINE) Financials

Alpine Income Property Trust logo
$21.78 +0.58 (+2.74%)
Closing price 07/17/2026 03:59 PM Eastern
Extended Trading
$21.74 -0.04 (-0.18%)
As of 07/17/2026 07:55 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for Alpine Income Property Trust

Annual Income Statements for Alpine Income Property Trust

This table shows Alpine Income Property Trust's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 0.99 9.96 30 2.92 2.07 -3.21
Consolidated Net Income / (Loss)		 1.15 11 34 3.27 2.25 -2.89
Net Income / (Loss) Continuing Operations		 1.15 11 34 13 2.25 13
Total Pre-Tax Income 		1.15 11 34 13 14 13
Total Revenue		 20 40 79 55 56 63
Net Interest Income / (Expense)		 0.00 0.00 0.00 0.64 5.76 11
Total Interest Income		 0.00 0.00 0.00 0.64 5.76 11
Loans and Leases Interest Income		 - 0.00 0.00 0.64 5.76 11
Total Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00
Total Non-Interest Income		 20 40 79 54 50 51
Net Realized & Unrealized Capital Gains on Investments		 0.29 9.68 34 9.33 3.44 2.07
Other Non-Interest Income		 19 30 45 45 46 49
Total Non-Interest Expense		 17 25 36 42 42 49
Other Operating Expenses		 6.98 8.70 11 13 14 15
Depreciation Expense		 9.95 16 24 26 26 27
Impairment Charge		 - 0.00 0.00 3.22 1.69 7.42
Other Special Charges		 0.00 0.00 0.73 -0.02 0.00 0.00
Other Gains / (Losses), net		 - 0.00 0.01 0.29 -12 0.24
Other Adjustments to Consolidated Net Income / (Loss)		 - - - -10 - -16
Preferred Stock Dividends Declared		 - - - 0.00 0.00 0.55
Net Income / (Loss) Attributable to Noncontrolling Interest		 0.16 1.50 4.24 0.35 0.19 -0.23
Basic Earnings per Share		 $0.13 $1.02 $2.48 $0.21 $0.15 ($0.22)
Weighted Average Basic Shares Outstanding		 7.59M 9.78M 11.98M 13.93M 13.86M 14.33M
Diluted Earnings per Share		 $0.11 $0.89 $2.17 $0.19 $0.14 ($0.22)
Weighted Average Diluted Shares Outstanding		 8.81M 11.25M 13.68M 15.56M 15.08M 15.55M
Weighted Average Basic & Diluted Shares Outstanding		 7.46M 11.67M 14.06M 13.62M 14.69M 15.09M
Cash Dividends to Common per Share		 $0.82 $1.02 $1.09 $1.10 $1.11 $1.14

Quarterly Income Statements for Alpine Income Property Trust

This table shows Alpine Income Property Trust's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 -0.84 0.34 -0.26 0.20 3.08 -0.96 -1.18 -1.64 -1.31 0.92 1.06
Consolidated Net Income / (Loss)		 -0.94 0.37 -0.28 0.22 3.35 -1.04 -1.28 -1.78 -1.42 1.60 2.36
Net Income / (Loss) Continuing Operations		 1.50 8.09 -0.28 0.22 6.52 -7.14 -1.28 2.54 -1.42 9.95 2.36
Total Pre-Tax Income 		1.38 8.03 -0.35 0.17 6.46 -7.20 2.27 2.49 -1.49 9.87 6.62
Total Revenue		 14 13 12 13 17 13 15 16 15 17 19
Net Interest Income / (Expense)		 0.11 0.53 0.90 0.99 1.66 2.21 2.30 2.74 2.32 3.99 5.76
Total Interest Income		 0.11 0.53 0.90 0.99 1.66 2.21 2.30 2.74 2.32 3.99 5.76
Loans and Leases Interest Income		 0.11 0.53 0.90 0.99 1.66 2.21 2.30 2.74 2.32 3.99 5.76
Total Interest Expense		 0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Total Non-Interest Income		 14 13 12 12 15 11 13 13 12 13 13
Other Service Charges		 0.00 - 0.10 0.17 0.10 0.09 0.08 0.10 0.12 - 0.05
Net Realized & Unrealized Capital Gains on Investments		 2.59 1.55 0.00 0.92 3.43 -0.90 1.15 0.94 -0.05 0.03 0.10
Other Non-Interest Income		 11 11 11 11 12 11 12 12 12 13 13
Total Non-Interest Expense		 13 10 9.88 10 10 11 13 13 12 11 12
Other Operating Expenses		 3.37 3.33 3.47 3.40 3.68 3.81 3.75 3.80 3.59 3.53 4.16
Depreciation Expense		 6.53 6.47 6.38 6.35 6.34 6.52 7.31 6.71 6.60 6.77 7.22
Impairment Charge		 2.86 0.36 0.03 0.66 0.42 0.58 2.03 2.80 1.92 0.67 0.51
Other Gains / (Losses), net		 0.13 0.06 0.07 0.06 0.06 0.06 -3.55 0.05 0.07 0.08 -4.26
Preferred Stock Dividends Declared		 - - - - - - 0.00 - - - 1.12
Net Income / (Loss) Attributable to Noncontrolling Interest		 -0.10 0.04 -0.02 0.02 0.27 -0.08 -0.10 -0.14 -0.11 0.13 0.17
Basic Earnings per Share		 ($0.06) $0.02 ($0.02) $0.01 $0.22 ($0.06) ($0.08) ($0.12) ($0.09) $0.07 $0.07
Weighted Average Basic Shares Outstanding		 13.95M 13.93M 13.62M 13.62M 13.74M 13.86M 14.63M 14.20M 14.16M 14.33M 15.54M
Diluted Earnings per Share		 ($0.05) $0.02 ($0.02) $0.01 $0.21 ($0.06) ($0.08) ($0.12) ($0.09) $0.07 $0.06
Weighted Average Diluted Shares Outstanding		 15.65M 15.56M 14.85M 14.85M 14.97M 15.08M 15.85M 15.43M 15.38M 15.55M 16.77M
Weighted Average Basic & Diluted Shares Outstanding		 13.70M 13.62M 13.62M 13.63M 14.27M 14.69M 14.27M 14.16M 14.16M 15.09M 16.52M
Cash Dividends to Common per Share		 $0.28 - $0.28 $0.28 $0.28 - $0.29 $0.29 $0.29 - $0.30

Annual Cash Flow Statements for Alpine Income Property Trust

This table details how cash moves in and out of Alpine Income Property Trust's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2018 2020 2021 2022 2023 2024 2025
Period end date 12/31/2018 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 0.00 -10 7.60 3.55 0.69 -5.78 31
Net Cash From Operating Activities		 5.63 9.39 17 25 23 23 26
Net Cash From Continuing Operating Activities		 5.63 9.39 17 25 23 23 26
Net Income / (Loss) Continuing Operations		 4.02 1.15 11 34 3.27 2.25 -2.89
Consolidated Net Income / (Loss)		 4.02 1.15 11 34 3.27 2.25 -2.89
Depreciation Expense		 4.90 9.95 16 24 26 26 27
Amortization Expense		 0.07 0.08 0.11 0.27 0.29 0.20 0.18
Non-Cash Adjustments to Reconcile Net Income		 0.23 -0.02 -9.37 -33 -5.81 -1.68 5.20
Changes in Operating Assets and Liabilities, net		 -3.60 -1.76 -0.94 -0.37 -0.34 -2.95 -4.13
Net Cash From Investing Activities		 -5.19 -114 -196 -39 -11 -56 -104
Net Cash From Continuing Investing Activities		 -5.19 -114 -196 -39 -11 -56 -104
Purchase of Property, Leasehold Improvements and Equipment		 - - - - - - -7.23
Purchase of Investment Securities		 -5.19 -119 -223 -189 -120 -135 -249
Sale and/or Maturity of Investments		 - 4.93 27 150 106 77 137
Other Investing Activities, net		 - - - - 2.48 2.18 15
Net Cash From Financing Activities		 -0.44 94 186 18 -11 26 109
Net Cash From Continuing Financing Activities		 -0.44 94 186 18 -11 26 109
Issuance of Debt		 0.00 116 295 277 32 122 216
Issuance of Common Equity		 0.00 0.00 68 36 12 19 60
Repayment of Debt		 0.00 -8.95 -164 -280 -24 -97 -140
Repurchase of Common Equity		 0.00 -5.01 0.00 0.00 -15 -0.78 -8.80
Payment of Dividends		 0.00 -7.20 -12 -15 -17 -17 -18
Cash Interest Paid		 - 1.23 3.13 7.75 9.25 12 15

Quarterly Cash Flow Statements for Alpine Income Property Trust

This table details how cash moves in and out of Alpine Income Property Trust's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 -10 -3.70 -5.75 -1.58 22 -20 3.62 0.56 -5.49 32 -12
Net Cash From Operating Activities		 5.07 4.42 6.76 8.03 6.21 4.60 5.83 7.02 8.73 2.10 4.36
Net Cash From Continuing Operating Activities		 5.07 4.42 6.76 8.03 6.21 4.60 5.83 7.02 8.73 2.10 4.36
Net Income / (Loss) Continuing Operations		 -0.94 0.37 -0.28 0.22 3.35 -1.04 -1.28 -1.78 -1.42 1.60 2.36
Consolidated Net Income / (Loss)		 -0.94 0.37 -0.28 0.22 3.35 -1.04 -1.28 -1.78 -1.42 1.60 2.36
Depreciation Expense		 6.53 6.47 6.38 6.35 6.34 6.52 7.31 6.71 6.60 6.77 7.22
Amortization Expense		 0.07 0.06 0.07 0.07 0.04 0.02 0.11 0.04 0.02 0.01 0.03
Non-Cash Adjustments to Reconcile Net Income		 0.35 -1.13 0.08 -0.22 -2.97 1.43 0.90 1.84 1.93 0.54 -0.29
Changes in Operating Assets and Liabilities, net		 -0.94 -1.35 0.51 1.61 -0.55 -2.33 -1.21 0.22 1.60 -6.82 -4.95
Net Cash From Investing Activities		 -6.45 -21 -4.11 -1.51 -1.91 -50 -48 6.27 -15 -45 -25
Net Cash From Continuing Investing Activities		 -6.45 -21 -4.11 -1.51 -1.91 -50 -48 6.27 -15 -45 -25
Purchase of Investment Securities		 -27 -32 -4.74 -22 -49 -59 -62 -20 -60 -106 -58
Sale and/or Maturity of Investments		 20 8.38 0.63 20 47 8.77 12 27 44 54 25
Other Investing Activities, net		 - - - - - - 2.07 - - - 8.18
Net Cash From Financing Activities		 -9.04 13 -8.41 -8.10 17 26 46 -13 1.12 75 8.99
Net Cash From Continuing Financing Activities		 -9.04 13 -8.41 -8.10 17 26 46 -13 1.12 75 8.99
Issuance of Debt		 3.50 27 6.00 18 44 55 57 9.00 50 101 240
Issuance of Common Equity		 - -0.19 - - - 7.65 -0.07 - - 60 36
Repayment of Debt		 -3.52 -0.53 -9.50 -22 -34 -32 -1.57 -13 -45 -81 -261
Repurchase of Common Equity		 -4.71 -9.54 -0.78 - - - -4.48 -4.32 - - 0.00
Payment of Dividends		 -4.29 -4.11 -4.08 -4.08 -4.17 -4.46 -4.50 -4.38 -4.39 -5.03 -6.40
Cash Interest Paid		 2.24 2.32 2.79 2.72 3.49 2.97 3.17 3.51 4.28 4.10 4.82

Annual Balance Sheets for Alpine Income Property Trust

This table presents Alpine Income Property Trust's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 164 262 506 573 565 605 716
Cash and Due from Banks		 12 1.89 8.85 9.02 4.02 1.58 4.59
Restricted Cash		 - 0.00 0.65 4.03 9.71 6.37 34
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Premises and Equipment, Net		 128 219 429 477 444 444 441
Mortgage Servicing Rights		 - - - 0.00 35 90 168
Intangible Assets		 22 37 59 60 49 44 49
Other Assets		 0.86 4.13 8.21 23 23 19 19
Total Liabilities & Shareholders' Equity		 164 262 506 573 565 605 716
Total Liabilities		 3.47 113 278 278 289 329 415
Long-Term Debt		 0.00 107 268 267 276 301 378
Other Long-Term Liabilities		 3.47 6.34 9.87 11 13 27 37
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 161 149 228 295 276 276 301
Total Preferred & Common Equity		 138 127 197 262 251 253 280
Preferred Stock		 0.00 0.00 - 0.00 0.00 0.00 0.02
Total Common Equity		 138 127 197 262 251 253 280
Common Stock		 138 133 201 237 244 262 314
Retained Earnings		 -0.50 -5.71 -6.42 10 -2.36 -16 -35
Accumulated Other Comprehensive Income / (Loss)		 0.00 -0.48 1.92 15 9.28 6.77 1.29
Noncontrolling Interest		 23 22 31 34 25 23 21

Quarterly Balance Sheets for Alpine Income Property Trust

This table presents Alpine Income Property Trust's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 558 559 566 579 647 628 621 745
Cash and Due from Banks		 6.27 5.15 3.26 2.56 6.14 5.00 1.18 2.62
Restricted Cash		 11 2.83 3.14 25 5.43 7.13 5.46 24
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Premises and Equipment, Net		 452 441 445 407 457 448 448 438
Mortgage Servicing Rights		 6.87 38 45 87 110 111 103 217
Intangible Assets		 52 47 46 41 46 43 42 47
Other Assets		 30 25 24 16 23 15 22 16
Total Liabilities & Shareholders' Equity		 558 559 566 579 647 628 621 745
Total Liabilities		 262 286 297 307 384 376 376 411
Long-Term Debt		 249 272 282 279 367 355 358 380
Other Long-Term Liabilities		 13 14 15 28 17 22 18 32
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 296 273 268 272 264 252 245 334
Total Preferred & Common Equity		 263 248 244 248 241 230 224 312
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.02
Total Common Equity		 263 248 244 248 241 230 224 312
Common Stock		 244 243 243 254 257 253 253 350
Retained Earnings		 1.08 -6.36 -9.91 -11 -21 -27 -32 -39
Accumulated Other Comprehensive Income / (Loss)		 18 11 11 4.64 4.56 3.36 2.29 1.51
Noncontrolling Interest		 33 25 24 24 23 22 22 21

Annual Metrics And Ratios for Alpine Income Property Trust

This table displays calculated financial ratios and metrics derived from Alpine Income Property Trust's official financial filings.

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 7,458,755.00 11,303,142.00 11,915,436.00 13,699,961.00 - 14,164,662.00
DEI Adjusted Shares Outstanding		 7,458,755.00 11,303,142.00 11,915,436.00 13,699,961.00 - 14,164,662.00
DEI Earnings Per Adjusted Shares Outstanding		 0.15 1.01 2.85 0.24 - -0.20
Growth Metrics		 - - - - - -
Revenue Growth		 0.00% 103.74% 98.47% -30.40% 1.26% 12.45%
EBITDA Growth		 0.00% 146.90% 115.72% -41.78% 1.58% 2.24%
EBIT Growth		 0.00% 480.92% 186.78% -69.78% 6.64% -6.26%
NOPAT Growth		 0.00% 480.92% 186.78% -69.78% 6.64% -6.26%
Net Income Growth		 0.00% 900.17% 196.24% -90.38% -30.99% -227.99%
EPS Growth		 0.00% 709.09% 143.82% -91.24% -26.32% -257.14%
Operating Cash Flow Growth		 0.00% 83.10% 43.33% -6.02% -0.14% 9.94%
Free Cash Flow Firm Growth		 0.00% 0.00% 89.60% 204.18% -151.99% -594.50%
Invested Capital Growth		 0.00% 93.68% 13.49% -1.99% 4.84% 17.48%
Revenue Q/Q Growth		 0.00% 49.70% -0.58% -8.34% -0.43% 6.89%
EBITDA Q/Q Growth		 0.00% 65.39% -1.27% -12.57% -2.43% 11.59%
EBIT Q/Q Growth		 0.00% 208.48% -4.91% -30.35% -6.68% 43.52%
NOPAT Q/Q Growth		 0.00% 583.59% 4.58% 120.54% 98.15% 1,980.62%
Net Income Q/Q Growth		 0.00% 438.37% -10.60% -61.22% -38.47% 47.75%
EPS Q/Q Growth		 0.00% 423.53% -15.56% -62.75% -36.36% 37.14%
Operating Cash Flow Q/Q Growth		 0.00% 13.70% 13.50% -10.16% -8.23% -8.87%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 77.78% 58.94% -1,150.29% -65.16%
Invested Capital Q/Q Growth		 0.00% 21.60% 1.47% 1.16% 4.92% 12.53%
Profitability Metrics		 - - - - - -
EBITDA Margin		 64.70% 78.41% 85.22% 71.29% 71.51% 65.02%
EBIT Margin		 13.36% 38.09% 55.05% 23.90% 25.18% 20.99%
Profit (Net Income) Margin		 5.87% 28.80% 42.99% 5.94% 4.05% -4.61%
Tax Burden Percent		 100.00% 100.02% 100.04% 24.85% 112.31% -21.96%
Interest Burden Percent		 43.91% 75.58% 78.06% 100.00% 14.32% 100.00%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 1.02% 4.03% 8.22% 2.36% 2.48% 2.09%
ROIC Less NNEP Spread (ROIC-NNEP)		 -0.35% 2.06% 4.66% -1.28% -1.59% -2.63%
Return on Net Nonoperating Assets (RNNOA)		 -0.25% 2.05% 4.76% -1.22% -1.67% -3.09%
Return on Equity (ROE)		 0.77% 6.08% 12.98% 1.14% 0.82% -1.00%
Cash Return on Invested Capital (CROIC)		 0.00% -59.76% -4.42% 4.37% -2.24% -13.99%
Operating Return on Assets (OROA)		 1.22% 3.95% 8.06% 2.31% 2.40% 1.99%
Return on Assets (ROA)		 0.54% 2.99% 6.29% 0.57% 0.39% -0.44%
Return on Common Equity (ROCE)		 0.66% 5.21% 11.36% 1.03% 0.75% -0.92%
Return on Equity Simple (ROE_SIMPLE)		 0.90% 5.83% 12.98% 1.30% 0.89% -1.03%
Net Operating Profit after Tax (NOPAT)		 2.61 15 43 13 14 13
NOPAT Margin		 13.36% 38.09% 55.05% 23.90% 25.18% 20.99%
Net Nonoperating Expense Percent (NNEP)		 1.37% 1.98% 3.56% 3.64% 4.08% 4.72%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 86.64% 61.91% 44.95% 76.10% 74.82% 79.01%
Earnings before Interest and Taxes (EBIT)		 2.61 15 43 13 14 13
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 13 31 67 39 40 41
Valuation Ratios		 - - - - - -
Price to Book Value (P/BV)		 0.71 0.98 0.76 0.79 0.95 0.83
Price to Tangible Book Value (P/TBV)		 1.01 1.40 0.99 0.99 1.15 1.01
Price to Revenue (P/Rev)		 4.62 4.86 2.52 3.61 4.30 3.72
Price to Earnings (P/E)		 91.71 19.40 6.71 68.09 115.99 0.00
Dividend Yield		 6.77% 5.94% 6.51% 7.59% 6.61% 6.93%
Earnings Yield		 1.09% 5.15% 14.90% 1.47% 0.86% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.85 0.97 0.87 0.88 0.96 0.87
Enterprise Value to Revenue (EV/Rev)		 11.14 12.13 6.17 8.83 10.00 9.48
Enterprise Value to EBITDA (EV/EBITDA)		 17.22 15.48 7.24 12.39 13.98 14.58
Enterprise Value to EBIT (EV/EBIT)		 83.37 31.85 11.21 36.94 39.72 45.16
Enterprise Value to NOPAT (EV/NOPAT)		 83.37 31.85 11.21 36.94 39.72 45.16
Enterprise Value to Operating Cash Flow (EV/OCF)		 23.16 28.08 19.76 20.95 21.74 23.04
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 19.94 0.00 0.00
Leverage & Solvency		 - - - - - -
Debt to Equity		 0.72 1.17 0.90 1.00 1.09 1.25
Long-Term Debt to Equity		 0.72 1.17 0.90 1.00 1.09 1.25
Financial Leverage		 0.72 0.99 1.02 0.95 1.05 1.18
Leverage Ratio		 1.38 2.04 2.06 1.99 2.12 2.29
Compound Leverage Factor		 0.60 1.54 1.61 1.99 0.30 2.29
Debt to Total Capital		 41.74% 54.02% 47.49% 50.01% 52.16% 55.63%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 41.74% 54.02% 47.49% 50.01% 52.16% 55.63%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 8.73% 6.33% 6.00% 4.51% 4.06% 3.15%
Common Equity to Total Capital		 49.53% 39.65% 46.51% 45.48% 43.78% 41.22%
Debt to EBITDA		 8.45 8.58 3.97 7.03 7.57 9.28
Net Debt to EBITDA		 8.30 8.28 3.77 6.68 7.37 8.32
Long-Term Debt to EBITDA		 8.45 8.58 3.97 7.03 7.57 9.28
Debt to NOPAT		 40.92 17.66 6.14 20.98 21.51 28.75
Net Debt to NOPAT		 40.20 17.03 5.84 19.93 20.94 25.78
Long-Term Debt to NOPAT		 40.92 17.66 6.14 20.98 21.51 28.75
Noncontrolling Interest Sharing Ratio		 14.69% 14.25% 12.45% 10.27% 8.76% 7.77%
Liquidity Ratios		 - - - - - -
Cash Flow Metrics		 - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 -225 -23 24 -13 -88
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00% 0.00% 0.00% 356.08%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - -
Asset Turnover		 0.09 0.10 0.15 0.10 0.10 0.09
Fixed Asset Turnover		 0.11 0.12 0.17 0.12 0.13 0.14
Capital & Investment Metrics		 - - - - - -
Invested Capital		 256 496 562 551 578 679
Invested Capital Turnover		 0.08 0.11 0.15 0.10 0.10 0.10
Increase / (Decrease) in Invested Capital		 0.00 240 67 -11 27 101
Enterprise Value (EV)		 218 483 487 485 557 593
Market Capitalization		 90 193 199 199 240 233
Book Value per Share		 $16.99 $17.39 $21.96 $18.30 $17.73 $19.76
Tangible Book Value per Share		 $12.05 $12.18 $16.88 $14.70 $14.65 $16.30
Total Capital		 256 496 562 551 578 679
Total Debt		 107 268 267 276 301 378
Total Long-Term Debt		 107 268 267 276 301 378
Net Debt		 105 258 254 262 294 339
Capital Expenditures (CapEx)		 0.00 0.00 0.00 0.00 0.00 7.23
Net Nonoperating Expense (NNE)		 1.46 3.70 9.53 9.88 12 16
Net Nonoperating Obligations (NNO)		 107 268 267 276 301 378
Total Depreciation and Amortization (D&A)		 10 16 24 26 26 28
Earnings Adjustments		 - - - - - -
Adjusted Basic Earnings per Share		 $0.13 $1.02 $2.48 $0.21 $0.15 ($0.22)
Adjusted Weighted Average Basic Shares Outstanding		 7.59M 9.78M 11.98M 13.93M 13.86M 14.33M
Adjusted Diluted Earnings per Share		 $0.11 $0.89 $2.17 $0.19 $0.14 ($0.22)
Adjusted Weighted Average Diluted Shares Outstanding		 8.81M 11.25M 13.68M 15.56M 15.08M 15.55M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 7.46M 11.67M 14.06M 13.62M 14.69M 15.09M
Normalized Net Operating Profit after Tax (NOPAT)		 1.83 11 31 11 11 14
Normalized NOPAT Margin		 9.35% 26.67% 39.18% 20.80% 19.75% 22.98%
Pre Tax Income Margin		 5.87% 28.79% 42.97% 23.90% 3.61% 20.99%
Debt Service Ratios		 - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - -
Dividend Payout Ratio		 628.53% 106.12% 44.52% 522.38% 744.76% -634.00%
Augmented Payout Ratio		 1,066.06% 106.12% 44.52% 969.90% 779.15% -938.96%

Quarterly Metrics And Ratios for Alpine Income Property Trust

This table displays calculated financial ratios and metrics derived from Alpine Income Property Trust's official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 14,049,941.00 13,699,961.00 13,699,961.00 13,623,239.00 13,631,757.00 - - 14,266,722.00 14,158,190.00 14,164,662.00 15,088,574.00
DEI Adjusted Shares Outstanding		 14,049,941.00 13,699,961.00 13,699,961.00 13,623,239.00 13,631,757.00 - - 14,266,722.00 14,158,190.00 14,164,662.00 15,088,574.00
DEI Earnings Per Adjusted Shares Outstanding		 -0.07 0.03 -0.02 0.02 0.25 - - -0.12 -0.10 0.11 0.16
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -38.87% -27.59% -20.14% 10.89% 19.52% -1.85% 23.19% 17.85% -14.13% 31.32% 20.49%
EBITDA Growth		 -59.41% -37.21% -29.25% 5.36% 61.03% -10.44% 7.21% -1.91% -29.64% 49.62% 43.12%
EBIT Growth		 -89.94% -65.79% -59.31% 22.98% 368.46% -33.68% -12.16% -16.88% -62.55% 201.72% 191.71%
NOPAT Growth		 -89.94% 849.05% -71.52% 75.68% 368.46% -237.17% 25.49% -16.88% -73.79% 27.49% 191.71%
Net Income Growth		 -108.41% -93.30% -107.56% 146.67% 457.19% -380.81% -351.59% -902.70% -142.43% 253.80% 284.43%
EPS Growth		 -106.94% -94.12% -109.52% 0.00% 520.00% -400.00% -300.00% -1,300.00% -142.86% 216.67% 175.00%
Operating Cash Flow Growth		 16.32% -37.20% 25.72% -3.23% 22.61% -33.29% 16.88% -12.55% 40.49% -13.27% -25.19%
Free Cash Flow Firm Growth		 108.07% 129.14% 2.29% 44.89% -94.49% -426.74% -924.67% -1,003.56% -8,685.59% -381.59% 9.11%
Invested Capital Growth		 -1.69% -1.99% -1.50% -0.54% 1.08% 4.84% 15.73% 10.29% 9.53% 17.48% 13.08%
Revenue Q/Q Growth		 16.99% -7.15% -5.08% 7.56% 26.09% -23.75% 19.14% 2.89% -8.13% 16.60% 9.31%
EBITDA Q/Q Growth		 -10.73% 19.26% -5.01% 4.19% 36.44% -33.67% 13.70% -4.67% -2.13% 41.04% 8.76%
EBIT Q/Q Growth		 -43.41% 115.95% -13.26% 16.03% 115.55% -69.43% 14.89% 9.78% -2.89% 146.34% 11.08%
NOPAT Q/Q Growth		 -19.16% 482.23% 220.93% 65.75% 115.55% -178.04% 145.01% 9.78% -32.02% 482.83% -32.93%
Net Income Q/Q Growth		 -1,143.33% 139.40% -176.49% 178.45% 1,410.81% -130.98% -23.00% -39.44% 20.15% 212.30% 47.50%
EPS Q/Q Growth		 -600.00% 140.00% -200.00% 150.00% 2,000.00% -128.57% -33.33% -50.00% 25.00% 177.78% -14.29%
Operating Cash Flow Q/Q Growth		 -38.93% -12.73% -2.03% 18.80% -22.62% -25.93% 71.65% -11.11% 24.31% -75.97% 107.82%
Free Cash Flow Firm Q/Q Growth		 159.64% 79.12% 4.32% -40.83% -90.12% -5,456.82% -163.30% 35.17% 6.11% -79.36% 16.76%
Invested Capital Q/Q Growth		 -1.50% 1.16% -1.12% 0.95% 0.10% 4.92% 9.16% -3.80% -0.59% 12.53% 5.07%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 56.39% 72.43% 72.48% 70.21% 75.97% 66.09% 63.07% 58.44% 62.25% 75.30% 74.92%
EBIT Margin		 9.75% 22.68% 20.72% 22.35% 38.21% 15.32% 14.78% 15.76% 16.66% 35.20% 35.77%
Profit (Net Income) Margin		 -6.64% 2.82% -2.27% 1.66% 19.84% -8.06% -8.32% -11.28% -9.80% 9.44% 12.74%
Tax Burden Percent		 -68.09% 4.61% 80.40% 133.73% 51.92% 14.43% -56.32% -71.54% 95.44% 16.19% 35.61%
Interest Burden Percent		 100.00% 269.61% -13.63% 5.54% 100.00% -364.66% 100.00% 100.00% -61.64% 165.62% 100.00%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 1.06% 6.04% 1.37% 2.15% 3.90% -3.86% 1.47% 1.66% 1.18% 5.81% 3.50%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.20% 3.21% 0.57% 1.11% 2.72% -2.47% 0.36% 0.32% 0.21% 3.37% 2.36%
Return on Net Nonoperating Assets (RNNOA)		 0.19% 3.05% 0.51% 1.03% 2.53% -2.58% 0.43% 0.39% 0.25% 3.96% 2.95%
Return on Equity (ROE)		 1.25% 9.09% 1.88% 3.18% 6.43% -6.44% 1.90% 2.05% 1.44% 9.77% 6.45%
Cash Return on Invested Capital (CROIC)		 2.79% 4.37% 2.71% 1.80% -0.32% -2.24% -13.80% -8.58% -9.22% -13.99% -9.67%
Operating Return on Assets (OROA)		 1.04% 2.19% 1.91% 2.10% 3.76% 1.46% 1.43% 1.61% 1.63% 3.34% 3.38%
Return on Assets (ROA)		 -0.71% 0.27% -0.21% 0.16% 1.95% -0.77% -0.81% -1.15% -0.96% 0.89% 1.20%
Return on Common Equity (ROCE)		 1.11% 8.16% 1.69% 2.86% 5.79% -5.87% 1.73% 1.87% 1.31% 9.01% 5.97%
Return on Equity Simple (ROE_SIMPLE)		 3.20% 0.00% -0.31% -0.26% 1.48% 0.00% 0.52% -0.32% -2.47% 0.00% 0.24%
Net Operating Profit after Tax (NOPAT)		 1.38 8.03 1.81 3.00 6.46 -5.04 2.27 2.49 1.69 9.87 6.62
NOPAT Margin		 9.75% 61.14% 14.50% 22.35% 38.21% -39.11% 14.78% 15.76% 11.66% 58.30% 35.77%
Net Nonoperating Expense Percent (NNEP)		 0.87% 2.82% 0.80% 1.05% 1.18% -1.39% 1.11% 1.34% 0.98% 2.44% 1.14%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 90.25% 77.32% 79.28% 77.65% 61.79% 84.68% 85.23% 84.24% 83.34% 64.80% 64.23%
Earnings before Interest and Taxes (EBIT)		 1.38 2.98 2.58 3.00 6.46 1.98 2.27 2.49 2.42 5.96 6.62
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 7.98 9.51 9.04 9.41 13 8.52 9.69 9.23 9.04 13 14
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.82 0.79 0.79 0.81 0.93 0.95 1.02 0.91 0.90 0.83 0.87
Price to Tangible Book Value (P/TBV)		 1.02 0.99 0.97 1.00 1.11 1.15 1.26 1.12 1.10 1.01 1.02
Price to Revenue (P/Rev)		 3.58 3.61 3.78 3.73 4.13 4.30 4.19 3.44 3.43 3.72 4.13
Price to Earnings (P/E)		 28.88 68.09 0.00 0.00 68.79 115.99 214.17 0.00 0.00 0.00 0.00
Dividend Yield		 7.19% 7.59% 7.70% 7.56% 6.52% 6.61% 6.70% 7.68% 8.01% 6.93% 6.42%
Earnings Yield		 3.46% 1.47% 0.00% 0.00% 1.45% 0.86% 0.47% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.88 0.88 0.89 0.91 0.92 0.96 0.99 0.95 0.95 0.87 0.90
Enterprise Value to Revenue (EV/Rev)		 7.99 8.83 9.35 9.37 9.04 10.00 10.66 9.43 9.80 9.48 9.82
Enterprise Value to EBITDA (EV/EBITDA)		 10.69 12.39 13.67 13.86 12.39 13.98 15.42 14.27 15.73 14.58 14.38
Enterprise Value to EBIT (EV/EBIT)		 25.40 36.94 51.69 50.12 33.67 39.72 45.55 43.56 62.69 45.16 36.91
Enterprise Value to NOPAT (EV/NOPAT)		 80.43 36.94 73.85 71.60 122.19 39.72 134.84 82.67 0.00 45.16 36.91
Enterprise Value to Operating Cash Flow (EV/OCF)		 18.59 20.95 17.94 18.61 18.12 21.74 23.33 22.33 20.31 23.04 26.58
Enterprise Value to Free Cash Flow (EV/FCFF)		 31.29 19.94 32.57 50.05 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.84 1.00 1.00 1.05 1.03 1.09 1.39 1.41 1.46 1.25 1.14
Long-Term Debt to Equity		 0.84 1.00 1.00 1.05 1.03 1.09 1.39 1.41 1.46 1.25 1.14
Financial Leverage		 0.95 0.95 0.90 0.93 0.93 1.05 1.19 1.22 1.23 1.18 1.25
Leverage Ratio		 1.99 1.99 1.95 1.98 2.00 2.12 2.25 2.29 2.32 2.29 2.33
Compound Leverage Factor		 1.99 5.37 -0.27 0.11 2.00 -7.72 2.25 2.29 -1.43 3.79 2.33
Debt to Total Capital		 45.71% 50.01% 49.95% 51.24% 50.63% 52.16% 58.19% 58.47% 59.36% 55.63% 53.23%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 45.71% 50.01% 49.95% 51.24% 50.63% 52.16% 58.19% 58.47% 59.36% 55.63% 53.23%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 5.99% 4.51% 4.53% 4.42% 4.30% 4.06% 3.62% 3.66% 3.59% 3.15% 2.97%
Common Equity to Total Capital		 48.30% 45.48% 45.52% 44.34% 45.07% 43.78% 38.19% 37.87% 37.05% 41.22% 43.80%
Debt to EBITDA		 5.56 7.03 7.68 7.85 6.83 7.57 9.07 8.81 9.82 9.28 8.46
Net Debt to EBITDA		 5.17 6.68 7.45 7.67 6.15 7.37 8.79 8.51 9.64 8.32 7.86
Long-Term Debt to EBITDA		 5.56 7.03 7.68 7.85 6.83 7.57 9.07 8.81 9.82 9.28 8.46
Debt to NOPAT		 41.80 20.98 41.48 40.53 67.40 21.51 79.32 51.03 -512.68 28.75 21.71
Net Debt to NOPAT		 38.88 19.93 40.26 39.61 60.62 20.94 76.82 49.29 -503.17 25.78 20.17
Long-Term Debt to NOPAT		 41.80 20.98 41.48 40.53 67.40 21.51 79.32 51.03 -512.68 28.75 21.71
Noncontrolling Interest Sharing Ratio		 11.75% 10.27% 10.12% 10.05% 9.93% 8.76% 8.86% 8.95% 8.78% 7.77% 7.37%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 11 19 10 5.99 0.59 -32 -83 -54 -51 -91 -76
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.11 0.10 0.09 0.09 0.10 0.10 0.10 0.10 0.10 0.09 0.09
Fixed Asset Turnover		 0.13 0.12 0.12 0.12 0.13 0.13 0.13 0.14 0.14 0.14 0.15
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 545 551 545 550 551 578 631 607 603 679 713
Invested Capital Turnover		 0.11 0.10 0.09 0.10 0.10 0.10 0.10 0.11 0.10 0.10 0.10
Increase / (Decrease) in Invested Capital		 -9.36 -11 -8.32 -2.99 5.87 27 86 57 53 101 83
Enterprise Value (EV)		 479 485 485 498 506 557 624 575 574 593 645
Market Capitalization		 215 199 196 198 231 240 246 210 201 233 272
Book Value per Share		 $18.73 $18.30 $18.22 $17.91 $18.21 $17.73 $16.40 $16.11 $15.79 $19.76 $20.71
Tangible Book Value per Share		 $15.06 $14.70 $14.77 $14.55 $15.23 $14.65 $13.26 $13.08 $12.84 $16.30 $17.61
Total Capital		 545 551 545 550 551 578 631 607 603 679 713
Total Debt		 249 276 272 282 279 301 367 355 358 378 380
Total Long-Term Debt		 249 276 272 282 279 301 367 355 358 378 380
Net Debt		 232 262 264 276 251 294 356 343 352 339 353
Capital Expenditures (CapEx)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Expense (NNE)		 2.32 7.66 2.09 2.78 3.11 -4.00 3.55 4.27 3.12 8.27 4.26
Net Nonoperating Obligations (NNO)		 249 276 272 282 279 301 367 355 358 378 380
Total Depreciation and Amortization (D&A)		 6.60 6.53 6.45 6.42 6.38 6.54 7.42 6.74 6.62 6.79 7.24
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.06) $0.02 ($0.02) $0.01 $0.22 ($0.06) ($0.08) ($0.12) ($0.09) $0.07 $0.07
Adjusted Weighted Average Basic Shares Outstanding		 13.95M 13.93M 13.62M 13.62M 13.74M 13.86M 14.63M 14.20M 14.16M 14.33M 15.54M
Adjusted Diluted Earnings per Share		 ($0.05) $0.02 ($0.02) $0.01 $0.21 ($0.06) ($0.08) ($0.12) ($0.09) $0.07 $0.06
Adjusted Weighted Average Diluted Shares Outstanding		 15.65M 15.56M 14.85M 14.85M 14.97M 15.08M 15.85M 15.43M 15.38M 15.55M 16.77M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 13.70M 13.62M 13.62M 13.63M 14.27M 14.69M 14.27M 14.16M 14.16M 15.09M 16.52M
Normalized Net Operating Profit after Tax (NOPAT)		 2.97 5.87 1.83 2.56 4.82 -4.63 3.01 3.71 3.03 7.38 4.99
Normalized NOPAT Margin		 21.00% 44.69% 14.68% 19.08% 28.50% -35.94% 19.60% 23.45% 20.90% 43.57% 26.96%
Pre Tax Income Margin		 9.75% 61.14% -2.82% 1.24% 38.21% -55.87% 14.78% 15.76% -10.27% 58.30% 35.77%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 202.33% 522.38% -2,205.64% -2,628.73% 448.79% 744.76% 1,366.16% -2,348.59% -320.83% -634.00% 2,692.40%
Augmented Payout Ratio		 262.61% 969.90% -4,225.46% -5,013.81% 730.38% 779.15% 1,722.16% -3,529.53% -480.15% -938.96% 3,267.87%

Financials Breakdown Chart

Key Financial Trends

Alpine Income Property Trust (NYSE: PINE) showed a mixed but generally improving operating picture in Q1 2026, with revenue growth and stronger operating cash flow, but net earnings were held back by large non-operating items and continued balance-sheet leverage.

Bottom line: the quarter suggests PINE is generating solid cash from operations, but reported earnings remain volatile because of investment gains/losses, impairments, and financing activity. For retail investors, this looks more like a cash-flow story than a clean earnings-growth story.

  • Total revenue rose to $18.5 million in Q1 2026 from $16.9 million in Q4 2025 and $15.4 million in Q1 2025, showing continued top-line momentum.
  • Operating cash flow improved to $4.36 million in Q1 2026, up from $2.10 million in Q4 2025 and $5.83 million in Q1 2025, indicating the business is still producing cash.
  • Cash from financing remained positive at $9.0 million, helped by $240.1 million of debt issuance and $36.1 million of common equity issuance.
  • Interest income increased sharply to $5.76 million from $3.99 million in Q4 2025 and $2.30 million in Q1 2025.
  • Depreciation and amortization continued to support operating cash flow, with $7.2 million of depreciation added back in Q1 2026.
  • The company ended Q1 2026 with $2.6 million in cash and $24.4 million in restricted cash, so liquidity appears adequate but not especially large relative to the balance sheet.
  • Total assets increased to $745.1 million from $647.4 million at Q1 2025, reflecting a larger asset base.
  • Common shares outstanding increased versus the prior year, which can help fund growth but also dilutes existing shareholders.
  • Net income from continuing operations fell to $2.36 million from $9.95 million in Q4 2025, showing earnings volatility.
  • Net cash from investing activities was a drag at -$25.3 million, driven by heavy purchases of investment securities.
  • Debt remained substantial at $379.7 million, versus $312.4 million of common equity, leaving the company meaningfully levered.
  • Reported net income to common shareholders was only $1.06 million, and earnings per share were just $0.07, suggesting limited earnings power after preferred and noncontrolling claims.
  • The company recorded an $4.26 million loss from other gains/losses, which weighed on the bottom line and highlights how non-operating items can swing results.

Three-year trend: PINE’s quarterly results have improved from the weak 2024 period, when several quarters showed negative or minimal earnings and uneven cash generation. In 2025 and early 2026, revenue, operating cash flow, and interest income all improved, but the company still relies on leverage, equity issuance, and non-core items to support results.

Investor takeaway: PINE appears to be stabilizing operationally, but its earnings remain choppy and balance-sheet risk is still important. Investors looking at the stock should focus on cash flow coverage, leverage, and whether management can sustain revenue growth without depending on dilution or volatile investment gains.

07/18/26 01:38 PM ETAI Generated. May Contain Errors.

Alpine Income Property Trust Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Alpine Income Property Trust's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Alpine Income Property Trust's net income appears to be on a downward trend, with a most recent value of -$2.89 million in 2025, falling from $1.15 million in 2020. The previous period was $2.25 million in 2024. See where experts think Alpine Income Property Trust is headed by visiting Alpine Income Property Trust's forecast page.

Over the last 5 years, Alpine Income Property Trust's total revenue changed from $19.54 million in 2020 to $62.60 million in 2025, a change of 220.5%.

Alpine Income Property Trust's total liabilities were at $414.62 million at the end of 2025, a 26.2% increase from 2024, and a 11,855.5% increase since 2019.

In the past 6 years, Alpine Income Property Trust's cash and equivalents has ranged from $1.58 million in 2024 to $12.34 million in 2019, and is currently $4.59 million as of their latest financial filing in 2025.

Over the last 5 years, Alpine Income Property Trust's book value per share changed from 16.99 in 2020 to 19.76 in 2025, a change of 16.3%.


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Financial statements for NYSE:PINE last updated on 7/2/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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