Alpine Income Property Trust, Inc.(PINE)Earnings, Financials & Key Ratios

PINE•NYSE•REIT / Real Estate

$19.48

$279M mkt cap·Price updated May 6, 2026

SectorReal Estate IndustryRetail REITs Sub-IndustryNet Lease Retail REITs

AboutAlpine Income Property Trust, Inc. (NYSE: PINE) is a publicly traded real estate investment trust that acquires, owns and operates a portfolio of high-quality single-tenant net leased commercial income properties.Show more

Revenue$61M+15.9%
FFO$25M-10.6%
FFO/Share1.59-13.3%
FFO Payout2.23%-96.3%
FFO per Share1.59-13.3%
NOI Margin-10.92%-114.2%
FFO Margin40.85%-22.9%
ROE-0.92%-222.9%
ROA-0.4%-213.9%
Debt/Assets55.06%+7.6%
Net Debt/EBITDA8.49+9.3%
Book Value/Share19.37+5.7%

Technical→

PINE Key Insights

Alpine Income Property Trust, Inc. (PINE) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

✓Sustainable FFO payout ratio of 2.2%
✓Trading at only 1.0x book value

✗Weaknesses

✗Weak 3Y average ROE of 0.3%
✗Weak Piotroski F-Score: 2/9
✗Low NOI margin of -10.9%

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

PINE Price & Volume

Alpine Income Property Trust, Inc. (PINE) stock price & volume — 10-year historical chart

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PINE Growth Metrics

Alpine Income Property Trust, Inc. (PINE) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-

5 Years25.75%

3 Years10.23%

TTM19.95%

Profit CAGR

10 Years-

5 Years-

3 Years-

TTM-136.18%

EPS CAGR

10 Years-

5 Years-

3 Years-

TTM-190.29%

Return on Capital

10 Years3.25%

5 Years3.94%

3 Years2.53%

Last Year2.84%

PINE Recent Earnings

Alpine Income Property Trust, Inc. (PINE) EPS & revenue vs analyst estimates — last 4 quarters

Full history →

●Beat EPS 2/12 qtrs (17%)●Beat Revenue 9/12 qtrs (75%)

Q2 2026Latest

Apr 23, 2026

EPS

$0.06

Est $0.10

-42.9%

Revenue

$18M

Est $17M

+5.8%

Q1 2026

Feb 5, 2026

EPS

$0.06

Est $0.07

-7.7%

Revenue

$17M

Est $16M

+8.2%

Q4 2025

Oct 23, 2025

EPS

$0.09

Est $0.43

-120.9%

Revenue

$15M

Est $15M

-4.7%

Q3 2025

Jul 24, 2025

EPS

$0.12

Est $0.45

-126.7%

Revenue

$15M

Est $15M

+0.6%

Quarter	Date	EPS (Act vs Est)	Revenue (Act vs Est)
Q2 2026Latest	Apr 23, 2026	$0.06vs $0.10-42.9%	$18Mvs $17M+5.8%
Q1 2026	Feb 5, 2026	$0.06vs $0.07-7.7%	$17Mvs $16M+8.2%
Q4 2025	Oct 23, 2025	$0.09vs $0.43-120.9%	$15Mvs $15M-4.7%
Q3 2025	Jul 24, 2025	$0.12vs $0.45-126.7%	$15Mvs $15M+0.6%

Based on last 12 quarters of dataView full earnings history →

Company	Market Cap	Stock Price	P/E Ratio (TTM)	Revenue Growth 1Y	Net Margin	Return on Equity (ROE)	Debt / Equity
NNNNNN REIT, Inc.Direct Competitor	8.51B	44.71	21.60	6.55%	41.38%	8.81%	1.09
ADCAgree Realty CorporationDirect Competitor	9.19B	76.50	43.22	16.42%	29.28%	3.65%	0.53
EPRTEssential Properties Realty Trust, Inc.Direct Competitor	6.79B	31.40	24.53	24.97%	43.28%	6.3%	0.60
NTSTNETSTREIT Corp.Direct Competitor	1.72B	20.57	257.13	30%	0.1%	0.01%
FCPTFour Corners Property Trust, Inc.Direct Competitor	2.79B	25.41	23.31	9.72%	38.74%	7.38%	0.74
GTYGetty Realty Corp.Direct Competitor	2B	33.08	24.50	9.02%	40.06%	8.76%	0.98
ORealty Income CorporationProduct Competitor	59.69B	64.01	54.71	9.07%	13.51%	2%	0.82
WPCW. P. Carey Inc.Product Competitor	16.19B	73.85	35	8.89%	26.02%	6.29%	1.07

Compare PINE vs Peers

Alpine Income Property Trust, Inc. (PINE) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs NNN

Most directly comparable listed peer for PINE.

Scale Benchmark

vs O

Larger-name benchmark to compare PINE against a more recognizable public peer.

Peer Set

Compare Top 5

vs NNN, ADC, EPRT, NTST

PINE Income Statement

Alpine Income Property Trust, Inc. (PINE) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily

Line item	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25	TTM
Revenue	8.45M	11.72M	13.23M	19.25M	30.13M	45.19M	45.64M	52.23M	60.53M	64.73M
Revenue Growth %	-	38.62%	12.9%	45.48%	56.52%	50.01%	1%	14.42%	15.9%	19.95%
Property Operating Expenses	1.47M	1.62M	2.04M	2.32M	6.86M	9.26M	6.88M	12.03M	67.14M	67.41M
Net Operating Income (NOI)	6.99M▲ 0%	10.1M▲ 44.6%	11.2M▲ 10.8%	16.93M▲ 51.2%	23.27M▲ 37.4%	35.93M▲ 54.4%	38.76M▲ 7.9%	40.19M▲ 3.7%	-6.61M▼ 116.4%	-2.68M▲ 0%
NOI Margin %	82.63%	86.18%	84.61%	87.97%	77.25%	79.5%	84.93%	76.96%	-10.92%	-4.14%
Operating Expenses	3.89M	6.09M	7.57M	14.32M	8.11M	-7.55M	25.62M	26.18M	-25.09M	22.7M
G&A Expenses	829.35K	1.18M	2.02M	4.66M	1.84M	1.96M	6.3M	2.33M	6.71M	5.77M
EBITDA	8.5M	9.57M	8.93M	12.45M	31.1M	67.05M	38.9M	39.61M	45.87M	45.42M
EBITDA Margin %	100.6%	81.63%	67.52%	64.69%	103.24%	148.36%	85.22%	75.84%	75.77%	70.16%
Depreciation & Amortization	5.41M	5.55M	5.31M	9.84M	15.94M	23.56M	25.76M	25.59M	27.38M	27.29M
D&A / Revenue %	63.94%	47.37%	40.11%	51.13%	52.91%	52.14%	56.43%	49.01%	45.24%	42.16%
Operating Income	3.1M▲ 0%	4.01M▲ 29.6%	3.63M▼ 9.7%	2.61M▼ 28.0%	15.16M▲ 480.9%	43.48M▲ 186.8%	13.14M▼ 69.8%	14.02M▲ 6.6%	18.48M▲ 31.9%	18.13M▲ 0%
Operating Margin %	36.66%	34.26%	27.41%	13.56%	50.33%	96.22%	28.79%	26.83%	30.54%	28%
Interest Expense	286.24K	0	41.23K	1.46M	3.7M	9.54M	9.46M	11.29M	16.27M	2M
Interest Coverage	10.83x	-	87.97x	1.59x	4.00x	4.50x	1.35x	1.20x	0.82x	-
Non-Operating Income	0	0	0	287K	360K	587K	421K	473K	5.1M	-1.38M
Pretax Income	2.81M▲ 0%	4.01M▲ 42.7%	3.59M▼ 10.7%	1.15M▼ 68.0%	11.46M▲ 900.2%	33.95M▲ 196.2%	3.27M▼ 90.4%	2.25M▼ 31.0%	-2.88M▼ 228.0%	-544K▲ 0%
Pretax Margin %	33.27%	34.26%	27.1%	5.95%	38.05%	75.14%	7.16%	4.32%	-4.77%	-0.84%
Income Tax	0	229.33K	0	0	0	0	0	0	0	0
Effective Tax Rate %	0%	5.71%	0%	0%	0%	0%	0%	0%	0%	0%
Net Income	2.81M▲ 0%	4.01M▲ 42.7%	3.59M▼ 10.5%	985K▼ 72.6%	9.96M▲ 911.6%	29.72M▲ 198.3%	2.92M▼ 90.2%	2.07M▼ 29.2%	-2.66M▼ 228.6%	-415K▲ 0%
Net Margin %	33.27%	34.26%	27.15%	5.12%	33.07%	65.77%	6.39%	3.96%	-4.39%	-0.64%
Net Income Growth %	-	42.74%	-10.53%	-72.58%	911.57%	198.27%	-90.19%	-29.17%	-228.61%	-136.18%
Funds From Operations (FFO)	8.22M▲ 0%	9.57M▲ 16.4%	8.9M▼ 7.0%	10.83M▲ 21.7%	25.9M▲ 139.3%	53.28M▲ 105.7%	28.68M▼ 46.2%	27.66M▼ 3.5%	24.73M▼ 10.6%	26.88M▲ 0%
FFO Margin %	97.21%	81.63%	67.26%	56.24%	85.98%	117.91%	62.82%	52.96%	40.85%	41.52%
FFO Growth %	-	16.4%	-6.98%	21.65%	139.27%	105.71%	-46.18%	-3.54%	-10.61%	16.73%
FFO per Share	0.90	1.05	1.13	1.23	2.30	3.90	1.84	1.83	1.59	1.60
FFO Payout Ratio %	0%	0%	5.16%	66.53%	41.19%	24.88%	53.42%	60.69%	2.23%	48.74%
EPS (Diluted)	0.31▲ 0%	0.44▲ 41.9%	0.45▲ 2.3%	0.11▼ 75.6%	0.89▲ 709.1%	2.17▲ 143.8%	0.19▼ 91.2%	0.14▼ 26.3%	-0.22▼ 257.1%	-0.02▲ 0%
EPS Growth %	-	41.94%	2.27%	-75.56%	709.09%	143.82%	-91.24%	-26.32%	-257.14%	-190.29%
EPS (Basic)	0.36	0.44	0.45	0.13	1.02	2.48	0.21	0.15	-0.22	-
Diluted Shares Outstanding	9.13M	9.13M	7.89M	8.81M	11.25M	13.68M	15.56M	15.08M	15.55M	16.77M

PINE Balance Sheet

Alpine Income Property Trust, Inc. (PINE) balance sheet — assets, liabilities & shareholders' equity

Line item	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25	TTM
Total Assets	125.98M	126.55M	164.17M	262.24M	505.51M	573.43M	564.56M	605M	715.87M	745.13M
Asset Growth %	-	0.45%	29.73%	59.73%	92.77%	13.44%	-1.55%	7.16%	18.33%	51.83%
Real Estate & Other Assets	114.43M	115.99M	128.77M	222.48M	434.89M	496.37M	447.95M	455.48M	-611.19M	0
PP&E (Net)	109.58M	111.15M	0	0	0	1.65M	1.43M	3.2M	0	0
Investment Securities	-1000K	-1000K	0	0	0	0	1000K	0	1000K	0
Total Current Assets	6.9K	8.26K	13.04M	2.88M	11.81M	14.99M	69.05M	102.39M	4.59M	2.62M
Cash & Equivalents	6.9K	8.26K	12.34M	1.89M	8.85M	9.02M	4.02M	1.58M	4.59M	2.62M
Receivables	0	0	0	283K	1000K	1000K	1000K	1000K	1000K	0
Other Current Assets	0	0	0	0	646K	4.03M	51.86M	8.63M	-3.23M	0
Intangible Assets	11.55M	10.56M	22.36M	36.88M	58.82M	60.43M	49.29M	43.92M	48.92M	46.76M
Total Liabilities	5.6M	2.36M	3.47M	113.15M	277.61M	278.06M	288.95M	328.5M	414.62M	411.46M
Total Debt	1.76M	1.71M	1.91M	110.11M	273.22M	273.82M	282.04M	309.47M	394.18M	0
Net Debt	1.75M	1.7M	-10.43M	108.21M	264.37M	264.81M	278.02M	307.89M	389.59M	-2.62M
Long-Term Debt	1.76M	1.71M	0	106.81M	267.74M	267.12M	275.68M	301.47M	385.8M	0
Short-Term Borrowings	0	0	0	0	0	0	0	0	311K	0
Capital Lease Obligations	1.76M	1.71M	1.91M	3.3M	5.48M	6.71M	6.36M	8M	8.06M	22.27M
Total Current Liabilities	3.84M	651.82K	1.56M	2.56M	4.22M	4.04M	6.7M	6.89M	14.03M	16.05M
Accounts Payable	3.46M	83.59K	463K	450K	213K	17K	30K	40K	9K	0
Deferred Revenue	371.94K	344.68K	88K	1.05M	2.03M	1.48M	3.17M	2.41M	14.03M	16.05M
Other Liabilities	-1.76M	-1.71M	-88K	-574K	173K	196K	1.71M	12.14M	6.41M	395.41M
Total Equity	122.13M▲ 0%	125.89M▲ 3.1%	160.71M▲ 27.7%	149.09M▼ 7.2%	227.9M▲ 52.9%	295.38M▲ 29.6%	275.61M▼ 6.7%	276.5M▲ 0.3%	301.26M▲ 9.0%	354.86M▲ 0%
Equity Growth %	-	3.08%	27.65%	-7.23%	52.86%	29.61%	-6.69%	0.32%	8.96%	27.59%
Shareholders Equity	120.38M	124.19M	137.53M	126.76M	196.52M	261.62M	250.74M	253.03M	279.88M	333.66M
Minority Interest	1.75M	1.7M	23.18M	22.33M	31.38M	33.76M	24.87M	23.47M	21.38M	21.2M
Common Stock	120.38M	124.19M	79K	75K	114K	134K	137K	147K	148K	165K
Additional Paid-in Capital	0	0	137.95M	132.88M	200.91M	236.84M	243.69M	261.83M	313.69M	0
Retained Earnings	0	0	-498K	-5.71M	-6.42M	10.04M	-2.36M	0	-35.28M	0
Preferred Stock	0	0	0	0	0	0	0	0	21K	23K
Return on Assets (ROA)	2.23%	3.18%	2.47%	0.46%	2.6%	5.51%	0.51%	0.35%	-0.4%	-0.06%
Return on Equity (ROE)	2.3%	3.24%	2.51%	0.64%	5.29%	11.36%	1.02%	0.75%	-0.92%	-0.14%
Debt / Assets	1.4%	1.35%	1.16%	41.99%	54.05%	47.75%	49.96%	51.15%	55.06%	0%
Debt / Equity	0.01x	0.01x	0.01x	0.74x	1.20x	0.93x	1.02x	1.12x	1.31x	1.31x
Net Debt / EBITDA	0.21x	0.18x	-1.17x	8.69x	8.50x	3.95x	7.15x	7.77x	8.49x	8.49x
Book Value per Share	13.38	13.79	20.36	16.92	20.26	21.59	17.71	18.33	19.37	21.16

PINE Cash Flow Statement

Alpine Income Property Trust, Inc. (PINE) cash flow — operating, investing & free cash flow history

Line item	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25	TTM
Cash from Operations	5.28M	5.63M	8.31M	9.39M	17.2M	24.65M	25.57M	25.61M	25.75M	25.75M
Operating CF Growth %	-	6.53%	47.77%	13%	83.1%	43.33%	3.73%	0.14%	0.56%	-71.1%
Operating CF / Revenue %	62.46%	48%	62.83%	48.81%	57.09%	54.55%	56.02%	49.03%	42.54%	39.78%
Net Income	2.81M	4.01M	666.18K	1.15M	11.46M	33.95M	2.92M	2.25M	-2.88M	-415K
Depreciation & Amortization	2.89M	4.67M	5.82M	9.84M	15.68M	23.24M	25.76M	25.08M	26.77M	26.69M
Stock-Based Compensation	136.54K	232.43K	513K	268K	309K	310K	0	247K	380K	380K
Other Non-Cash Items	80.91K	302.43K	-1.05M	-190K	362K	-32.48M	-5.25M	-1.21M	5.62M	-796K
Working Capital Changes	-640.75K	-3.6M	-792.74K	-1.38M	-940K	-374K	2.14M	-761K	-4.13M	-5M
Cash from Investing	-59.4M	-5.19M	-152.92M	-113.88M	-195.99M	-38.78M	-13.58M	-57.84M	-103.86M	-79M
Acquisitions (Net)	0	0	0	0	0	0	0	0	0	0
Purchase of Investments	-59.4M	-5.19M	-152.92M	-118.81M	-223.41M	0	-35.42M	0	0	0
Sale of Investments	0	0	0	0	0	0	0	0	0	0
Other Investing	-59.4M	-5.19M	0	4.93M	27.41M	150.37M	106.3M	-57.84M	-103.86M	-79M
Cash from Financing	53.71M	-438.13K	156.94M	94.03M	186.4M	17.67M	-11.3M	26.46M	109.16M	72.31M
Dividends Paid	0	0	-529.34K	-7.2M	-10.67M	-13.26M	-15.32M	-16.79M	-552K	-14.22M
Common Dividends	0	0	-459K	-7.2M	-10.67M	-13.26M	0	-16.79M	0	-13.1M
Debt Issuance (Net)	-1000K	0	0	1000K	1000K	-750K	1000K	1000K	1000K	1000K
Share Repurchases	0	0	0	-5.01M	0	0	-14.62M	-775K	-8.8M	-4.32M
Other Financing	61.01M	-438.13K	19.45M	-559K	-2.9M	-3.96M	-1.74M	-91K	-17.88M	9.46M
Net Change in Cash	-417.6K▲ 0%	1.36K▲ 100.3%	12.33M▲ 908126.8%	-10.45M▼ 184.7%	7.6M▲ 172.8%	3.55M▼ 53.3%	687K▼ 80.6%	-5.78M▼ 941.3%	31.05M▲ 637.2%	15.47M▲ 0%
Exchange Rate Effect	0	0	280	0	0	0	0	0	0	0
Cash at Beginning	424.5K	6.9K	8.26K	12.34M	1.89M	9.5M	13.04M	13.73M	7.95M	39M
Cash at End	6.9K	8.26K	12.34M	1.89M	9.5M	13.04M	13.73M	7.95M	39M	27.05M
Free Cash Flow	5.28M▲ 0%	5.63M▲ 6.5%	8.31M▲ 47.8%	9.39M▲ 13.0%	17.2M▲ 83.1%	-164.5M▼ 1056.4%	-58.89M▲ 64.2%	25.61M▲ 143.5%	-82.8M▼ 423.3%	-46.39M▲ 0%
FCF Growth %	-	6.53%	47.77%	13%	83.1%	-1056.37%	64.2%	143.48%	-423.32%	-45.41%
FCF / Revenue %	62.46%	48%	62.83%	48.81%	57.09%	-364%	-129.03%	49.03%	-136.78%	-71.67%

PINE Key Ratios

Alpine Income Property Trust, Inc. (PINE) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric	2018	2019	2020	2021	2022	2023	2024	2025	TTM
FFO per Share	1.05	1.13	1.23	2.3	3.9	1.84	1.83	1.59	1.6
FFO Payout Ratio	0%	5.16%	66.53%	41.19%	24.88%	53.42%	60.69%	2.23%	48.74%
NOI Margin	86.18%	84.61%	87.97%	77.25%	79.5%	84.93%	76.96%	-10.92%	-4.14%
Net Debt / EBITDA	0.18x	-1.17x	8.69x	8.50x	3.95x	7.15x	7.77x	8.49x	8.49x
Debt / Assets	1.35%	1.16%	41.99%	54.05%	47.75%	49.96%	51.15%	55.06%	0%
Interest Coverage	-	87.97x	1.59x	4.00x	4.50x	1.35x	1.20x	0.82x	-
Book Value / Share	13.79	20.36	16.92	20.26	21.59	17.71	18.33	19.37	21.16
Revenue Growth	38.62%	12.9%	45.48%	56.52%	50.01%	1%	14.42%	15.9%	19.95%

PINE SEC Filings & Documents

Alpine Income Property Trust, Inc. (PINE) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

Material company update

Apr 24, 2026·SEC

Material company update

Apr 23, 2026·SEC

Material company update

Feb 5, 2026·SEC

10-K Annual Reports

FY 2026

Feb 5, 2026·SEC

FY 2025

Feb 6, 2025·SEC

FY 2024

Feb 8, 2024·SEC

10-Q Quarterly Reports

FY 2026

Apr 23, 2026·SEC

FY 2025

Oct 23, 2025·SEC

FY 2025

Jul 24, 2025·SEC

PINE Frequently Asked Questions

Alpine Income Property Trust, Inc. (PINE) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Alpine Income Property Trust, Inc. (PINE) reported $64.7M in revenue for fiscal year 2025. This represents a 666% increase from $8.5M in 2017.

Alpine Income Property Trust, Inc. (PINE) grew revenue by 15.9% over the past year. This is strong growth.

Alpine Income Property Trust, Inc. (PINE) reported a net loss of $0.4M for fiscal year 2025.

Dividend & Returns

Yes, Alpine Income Property Trust, Inc. (PINE) pays a dividend with a yield of 0.18%. This makes it attractive for income-focused investors.

Alpine Income Property Trust, Inc. (PINE) has a return on equity (ROE) of -0.9%. Negative ROE indicates the company is unprofitable.

Industry Metrics

Alpine Income Property Trust, Inc. (PINE) generated Funds From Operations (FFO) of $26.9M in the trailing twelve months. FFO is the primary profitability metric for REITs.

Explore More PINE

Alpine Income Property Trust, Inc. (PINE) financial analysis — history, returns, DCA and operating performance tools

Total Return Calculator

Historical returns with dividends reinvested

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

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Alpine Income Property Trust, Inc.(PINE)Earnings, Financials & Key Ratios

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