Alpine Income Property Trust, Inc. PINE

Real estate SIC 6798 - Real Estate Investment Trusts NAICS Real Estate and Rental and Leasing › Real Estate › Lessors of Real Estate derived NYSE

We are a real estate investment trust ("REIT") that owns and operates a high-quality portfolio of commercial net lease properties all located in the United States. Our properties are primarily leased to industry leading, creditworthy tenants, many of which operate in industries we believe are resistant to the impact of e-commerce. Our portfolio consists of 127 net leased properties located in 32 states. The properties in our portfolio are primarily subject to long-term leases, which generally require the tenant to pay directly or reimburse us for property operating expenses such as real estate taxes, insurance, assessments and other governmental fees, utilities, repairs and maintenance and certain capital expenditures. We also acquire and originate commercial loans and investments. Our investments in commercial loans are generally secured by real estate or the borrower's pledge of its ownership interest in an entity that owns real estate.

Last close 16.16 2026-10-23
Market cap $284.8M 2026-06-30 share count
52-week range 13.85 - 21.99

Valuation FY2025 figures against the last close

P/S4.7x
P/E—
P/FCF—
EV/EBITDA18.7x
Dividend yield6.2%
Diluted EPS-0.22

Where the revenue comes from as reported in the latest 10-K

Revenue by segment

  • Income Properties
  • Commercial Loans and Investments
Revenue by segment, 2 categories over 2 years. The same figures are in the table below. FY2025 Income Properties, FY2025: 48.7M (81.1%) 81% Income Properties Commercial Loans and Investments, FY2025: 11.3M (18.9%) 19% FY2024 Income Properties, FY2024: 46M (88.9%) 89% Commercial Loans and Investments, FY2024: 5.8M (11.1%) 11%
Segment FY2025FY2024
Income Properties $48.7M $46.0M
Commercial Loans and Investments $11.3M $5.8M

As the company reported it, from the “BUSINESS SEGMENT DATA - Operations in Different Segments (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Segments are the filer's own reporting structure, which is a decision about how it runs itself rather than a standard taxonomy: two companies in the same industry routinely divide themselves along different lines, so these are worth reading down a single company rather than across two. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
Revenue $60.5M$52.2M$45.6M$45.2M$30.1M$19.2M—$11.7M—
Gross profit $52.1M$44.0M$39.0M$39.8M—————
SG&A $6.7M$6.6M$6.3M$5.8M$5.0M$4.7M—$1.2M—
Total operating expenses $49.5M$41.7M$41.9M$34.8M$24.6M$16.9M—$7.7M—
Operating income $13.1M$14.0M$13.1M$43.5M$15.2M$2.6M—$4.0M—
Interest expense $16.3M$12.0M$10.2M——————
Net income -$2.7M$2.1M$2.9M$29.7M$10.0M$985.0K—$4.0M—
EPS, basic -0.220.150.212.481.020.13———
EPS, diluted -0.220.140.192.170.890.11———
Shares, diluted (wtd. avg.) 15.6M15.1M15.6M13.7M11.2M8.8M———

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
Cash and equivalents $4.6M$1.6M$4.0M$13.0M$9.5M$1.9M$12.3M$8.0K$7.0K
Property, plant and equipment $441.3M$444.0M$443.6M$477.1M$429.0M$219.3M$128.0M——
Other intangibles $48.9M$43.9M$49.3M$60.4M$58.8M$36.9M$22.4M——
Total assets $715.9M$605.0M$564.6M$573.4M$505.5M$262.2M$164.2M——
Short-term debt $100.0M————————
Long-term debt $377.7M$301.5M$275.7M$267.1M$267.7M$106.8M———
Total liabilities $414.6M$328.5M$288.9M$278.1M$277.6M$113.1M$3.5M——
Retained earnings -$35.3M-$15.7M-$2.4M$10.0M-$6.4M-$5.7M-$498.0K——
Total equity $279.9M$253.0M$275.6M$295.4M$227.9M$149.1M$160.7M$124.2M$120.4M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
Operating cash flow $25.8M$23.4M$23.2M$24.7M$17.2M$9.4M—$5.6M—
Depreciation and amortisation $27.4M$25.6M$25.8M$23.6M$15.9M$9.9M—$4.9M—
Stock-based compensation $380.0K$247.0K$318.0K$310.0K$309.0K$268.0K—$232.0K—
Capital expenditure $244.5M$132.4M$119.9M$189.1M$223.4M————
Investing cash flow -$103.9M-$55.7M-$11.1M-$38.8M-$196.0M-$113.9M—-$5.2M—
Financing cash flow $109.2M$26.5M-$11.4M$17.7M$186.4M$94.0M—-$438.0K—
Dividends paid $17.7M$16.8M$17.1M$15.1M$12.2M$7.2M———
Buybacks $8.8M$775.0K$14.6M——$5.0M———

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-010910.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -20M 0 20M 40M 60M 80M Revenue, FY2018: 11.7M Net income, FY2018: 4M Revenue, FY2020: 19.2M Net income, FY2020: 985K Revenue, FY2021: 30.1M Net income, FY2021: 10M Revenue, FY2022: 45.2M Gross profit, FY2022: 39.8M Net income, FY2022: 29.7M Revenue, FY2023: 45.6M Gross profit, FY2023: 39M Net income, FY2023: 2.9M Revenue, FY2024: 52.2M Gross profit, FY2024: 44M Net income, FY2024: 2.1M Revenue, FY2025: 60.5M Gross profit, FY2025: 52.1M Net income, FY2025: -2.7M FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue — $11.7M — $19.2M $30.1M $45.2M $45.6M $52.2M $60.5M
Gross profit — — — — — $39.8M $39.0M $44.0M $52.1M
Net income — $4.0M — $985.0K $10.0M $29.7M $2.9M $2.1M -$2.7M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
  • Other event Item 8.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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