Comprehensive Stock Comparison
Compare Alpine Income Property Trust, Inc. (PINE) vs Realty Income Corporation (O) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | PINE | 15.9% revenue growth vs O's 9.1% |
| Value | O | Lower P/E (41.8x vs 49.8x) |
| Quality / Margins | O | 18.4% net margin vs PINE's -5.3% |
| Stability / Safety | O | Beta 0.19 vs PINE's 0.25 |
| Dividends | PINE | 0.2% yield; O pays no meaningful dividend |
| Momentum (1Y) | PINE | +25.8% vs O's +23.6% |
| Efficiency (ROA) | O | 1.5% ROA vs PINE's -0.4%, ROIC 2.3% vs 2.2% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Defensive / Recession hedge
Business Model
What each company does and how it makes money
Alpine Income Property Trust is a real estate investment trust that acquires and operates single-tenant commercial properties leased to creditworthy tenants under long-term net lease agreements. It generates revenue primarily through rental income from its portfolio of retail and commercial properties — with over 90% of its properties occupied by national or regional tenants. The company's moat lies in its focus on essential-service retail properties with long-term leases to recession-resistant tenants, providing stable cash flows.
Realty Income is a real estate investment trust that owns and leases single-tenant commercial properties to retail and service-oriented businesses. It generates revenue primarily through long-term triple-net leases—where tenants pay rent plus property expenses—with retail clients like convenience stores and drugstores accounting for roughly 80% of its portfolio. The company's moat lies in its massive scale, diversified tenant base, and long-term lease structure that provides predictable monthly cash flow supporting its famous monthly dividend payments.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
O leads in 4 of 6 categories (Financial Metrics, Profitability & Efficiency). PINE leads in 1 (Valuation Metrics). 1 tied.
Financial Metrics (TTM)
O is the larger business by revenue, generating $5.7B annually — 95.0x PINE's $61M. O is the more profitable business, keeping 18.4% of every revenue dollar as net income compared to PINE's -5.3%. On growth, PINE holds the edge at +22.5% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | PINEAlpine Income Pro… | ORealty Income Cor… |
|---|---|---|
| RevenueTrailing 12 months | $61M | $5.7B |
| EBITDAEarnings before interest/tax | $41M | $4.1B |
| Net IncomeAfter-tax profit | -$3M | $1.1B |
| Free Cash FlowCash after capex | -$4M | $2.8B |
| Gross MarginGross profit ÷ Revenue | +85.1% | +89.8% |
| Operating MarginEBIT ÷ Revenue | +21.7% | +28.3% |
| Net MarginNet income ÷ Revenue | -5.3% | +18.4% |
| FCF MarginFCF ÷ Revenue | -6.5% | +48.5% |
| Rev. Growth (YoY)Latest quarter vs prior year | +22.5% | +11.0% |
| EPS Growth (YoY)Latest quarter vs prior year | +190.4% | +39.1% |
Valuation Metrics
On an enterprise value basis, PINE's 7.1x EV/EBITDA is more attractive than O's 15.2x.
| Metric | PINEAlpine Income Pro… | ORealty Income Cor… |
|---|---|---|
| Market CapShares × price | $292M | $62.6B |
| Enterprise ValueMkt cap + debt − cash | $287M | $62.1B |
| Trailing P/EPrice ÷ TTM EPS | -89.64x | 57.27x |
| Forward P/EPrice ÷ next-FY EPS est. | 49.80x | 41.80x |
| PEG RatioP/E ÷ EPS growth rate | — | 80.25x |
| EV / EBITDAEnterprise value multiple | 7.08x | 15.16x |
| Price / SalesMarket cap ÷ Revenue | 4.82x | 10.88x |
| Price / BookPrice ÷ Book value/share | 0.95x | 1.51x |
| Price / FCFMarket cap ÷ FCF | 11.32x | 15.66x |
Profitability & Efficiency
O delivers a 2.6% return on equity — every $100 of shareholder capital generates $3 in annual profit, vs $-1 for PINE. On the Piotroski fundamental quality scale (0–9), O scores 5/9 vs PINE's 3/9, reflecting solid financial health.
| Metric | PINEAlpine Income Pro… | ORealty Income Cor… |
|---|---|---|
| ROE (TTM)Return on equity | -1.0% | +2.6% |
| ROA (TTM)Return on assets | -0.4% | +1.5% |
| ROICReturn on invested capital | +2.2% | +2.3% |
| ROCEReturn on capital employed | +2.0% | +2.3% |
| Piotroski ScoreFundamental quality 0–9 | 3 | 5 |
| Debt / EquityFinancial leverage | — | — |
| Net DebtTotal debt minus cash | -$5M | -$435M |
| Cash & Equiv.Liquid assets | $5M | $435M |
| Total DebtShort + long-term debt | $0 | $0 |
| Interest CoverageEBIT ÷ Interest expense | — | — |
Total Returns (with DRIP)
A $10,000 investment in O five years ago would be worth $14,035 today (with dividends reinvested), compared to $13,697 for PINE. Over the past 12 months, PINE leads with a +25.8% total return vs O's +23.6%. The 3-year compound annual growth rate (CAGR) favors PINE at 8.2% vs O's 6.3% — a key indicator of consistent wealth creation.
| Metric | PINEAlpine Income Pro… | ORealty Income Cor… |
|---|---|---|
| YTD ReturnYear-to-date | +17.5% | +17.9% |
| 1-Year ReturnPast 12 months | +25.8% | +23.6% |
| 3-Year ReturnCumulative with dividends | +26.5% | +19.9% |
| 5-Year ReturnCumulative with dividends | +37.0% | +40.3% |
| 10-Year ReturnCumulative with dividends | +37.1% | +67.6% |
| CAGR (3Y)Annualised 3-year return | +8.2% | +6.3% |
Risk & Volatility
O is the less volatile stock with a 0.19 beta — it tends to amplify market swings less than PINE's 0.25 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. O currently trades 98.6% from its 52-week high vs PINE's 94.8% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | PINEAlpine Income Pro… | ORealty Income Cor… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.25x | 0.19x |
| 52-Week HighHighest price in past year | $20.80 | $67.94 |
| 52-Week LowLowest price in past year | $13.10 | $50.71 |
| % of 52W HighCurrent price vs 52-week peak | +94.8% | +98.6% |
| RSI (14)Momentum oscillator 0–100 | 61.5 | 70.7 |
| Avg Volume (50D)Average daily shares traded | 136K | 5.4M |
Analyst Outlook
Wall Street rates PINE as "Buy" and O as "Hold". Consensus price targets imply 4.0% upside for PINE (target: $21) vs -5.4% for O (target: $63). PINE is the only dividend payer here at 0.18% yield — a key consideration for income-focused portfolios.
| Metric | PINEAlpine Income Pro… | ORealty Income Cor… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Hold |
| Price TargetConsensus 12-month target | $20.50 | $63.38 |
| # AnalystsCovering analysts | 12 | 33 |
| Dividend YieldAnnual dividend ÷ price | +0.2% | — |
| Dividend StreakConsecutive years of raises | 0 | 27 |
| Dividend / ShareAnnual DPS | $0.04 | — |
| Buyback YieldShare repurchases ÷ mkt cap | +3.0% | 0.0% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Mar 20 | Feb 26 | Change |
|---|---|---|---|
| Alpine Income Prope… (PINE) | 100 | 97.68 | -2.3% |
| Realty Income Corpo… (O) | 100 | 83.35 | -16.6% |
Realty Income Corpo… (O) returned +40% over 5 years vs Alpine Income Prope… (PINE)'s +37%. A $10,000 investment in O 5 years ago would be worth $14,035 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Alpine Income Prope… (PINE) | $8M | $61M | +616.0% |
| Realty Income Corpo… (O) | $1.1B | $5.7B | +421.2% |
Realty Income Corporation's revenue grew from $1.1B (2016) to $5.7B (2025) — a 20.1% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Alpine Income Prope… (PINE) | 33.3% | -5.3% | -115.9% |
| Realty Income Corpo… (O) | 28.6% | 18.4% | -35.6% |
Realty Income Corporation's net margin went from 29% (2016) to 18% (2025).
Chart 4P/E Ratio History — 9 Years
| Stock | 2017 | 2025 | Change |
|---|---|---|---|
| Alpine Income Prope… (PINE) | 42.3 | 119.9 | +183.5% |
| Realty Income Corpo… (O) | 50.2 | 48.2 | -4.0% |
Alpine Income Property Trust, Inc. has traded in a 9x–136x P/E range over 6 years; current trailing P/E is ~-90x. Realty Income Corporation has traded in a 45x–82x P/E range over 9 years; current trailing P/E is ~57x.
Chart 5EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Alpine Income Prope… (PINE) | 0.31 | -0.22 | -171.0% |
| Realty Income Corpo… (O) | 1.13 | 1.17 | +3.5% |
Realty Income Corporation's EPS grew from $1.13 (2016) to $1.17 (2025) — a 0% CAGR.
Chart 6Free Cash Flow — 5 Years
Alpine Income Property Trust, Inc. generated $26M FCF in 2025 (+50% vs 2021). Realty Income Corporation generated $4B FCF in 2025 (+207% vs 2021).
PINE vs O: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is PINE or O a better buy right now?
Realty Income Corporation (O) offers the better valuation at 57.3x trailing P/E (41.8x forward), making it the more compelling value choice. Analysts rate Alpine Income Property Trust, Inc. (PINE) a "Buy" — based on 12 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — PINE or O?
On forward P/E, Realty Income Corporation is actually cheaper at 41.8x.
03Which is the better long-term investment — PINE or O?
Over the past 5 years, Realty Income Corporation (O) delivered a total return of +40.3%, compared to +37.0% for Alpine Income Property Trust, Inc. (PINE). A $10,000 investment in O five years ago would be worth approximately $14K today (assuming dividends reinvested). Over 10 years, the gap is even starker: O returned +67.6% versus PINE's +37.1%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — PINE or O?
By beta (market sensitivity over 5 years), Realty Income Corporation (O) is the lower-risk stock at 0.19β versus Alpine Income Property Trust, Inc.'s 0.25β — meaning PINE is approximately 30% more volatile than O relative to the S&P 500.
05Which has better profit margins — PINE or O?
Realty Income Corporation (O) is the more profitable company, earning 18.4% net margin versus -5.3% for Alpine Income Property Trust, Inc. — meaning it keeps 18.4% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: O leads at 28.3% versus 21.7% for PINE. At the gross margin level — before operating expenses — O leads at 89.8%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Is PINE or O more undervalued right now?
On forward earnings alone, Realty Income Corporation (O) trades at 41.8x forward P/E versus 49.8x for Alpine Income Property Trust, Inc. — 8.0x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for PINE: 4.0% to $20.50.
07Which pays a better dividend — PINE or O?
In this comparison, PINE (0.2% yield) pays a dividend. O does not pay a meaningful dividend and should not be held primarily for income.
08Is PINE or O better for a retirement portfolio?
For long-horizon retirement investors, Realty Income Corporation (O) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.19)). Both have compounded well over 10 years (O: +67.6%, PINE: +37.1%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
09What are the main differences between PINE and O?
Both stocks operate in the Real Estate sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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