Alpine Income Property Trust, Inc. (PINE) 10-Year Financial Performance & Capital Metrics

PINE • • REIT / Real Estate

Real EstateRetail REITsSingle-Tenant Net Lease RetailEmerging Net Lease 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 $52M +14.4%
FFO $28M -3.5%
FFO/Share 1.83 -0.5%
FFO Payout 60.69% +13.6%
FFO per Share 1.83 -0.5%
NOI Margin 76.96% -9.4%
FFO Margin 52.96% -15.7%
ROE 0.75% -26.7%
ROA 0.35% -31.1%
Debt/Assets 51.15% +2.4%
Net Debt/EBITDA 7.77 +8.8%
Book Value/Share 18.33 +3.5%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Sustainable FFO payout ratio of 60.7%
✓High NOI margin of 77.0%
✓Share count reduced 3.1% through buybacks
✓Trading near 52-week high
✓Trading at only 0.9x book value

✗Weaknesses

✗Weak 3Y average ROE of 4.4%
✗Profits declining 10.5% over 5 years
✗FFO declining 23.4% TTM
✗Dividend payout exceeds 100% of earnings

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y31.6%

3Y20.13%

TTM14.81%

Profit (Net Income) CAGR

10Y-

5Y-10.47%

3Y-40.81%

TTM-251.47%

EPS CAGR

10Y-

5Y-20.83%

3Y-46.02%

TTM-255.23%

ROCE

10Y Avg3.3%

5Y Avg3.62%

3Y Avg4.29%

Latest2.42%

Peer Comparison

Emerging Net Lease REITs

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
PINEAlpine Income Property Trust, Inc.	246.18M	17.38	124.14	14.42%	-8.86%	-2.07%	10.4%	1.12
NTSTNETSTREIT Corp.	1.52B	18.21	-113.81	21.84%	0.1%	0.01%	5.92%	0.67

Profit & Loss

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Revenue+	8.45M	11.72M	13.23M	19.25M	30.13M	45.19M	45.64M	52.23M
Revenue Growth %	-	0.39%	0.13%	0.45%	0.57%	0.5%	0.01%	0.14%
Property Operating Expenses	1.47M	1.62M	2.04M	2.32M	6.86M	9.26M	6.88M	12.03M
Net Operating Income (NOI)+	-	-	-	-	-	-	-	-
NOI Margin %	-	-	-	-	-	-	-	-
Operating Expenses+	3.89M	6.09M	7.57M	14.32M	8.11M	-7.55M	25.62M	26.18M
G&A Expenses	829.35K	1.18M	2.02M	4.66M	1.84M	1.96M	6.3M	2.33M
EBITDA+	8.5M	9.57M	8.93M	12.45M	31.1M	67.05M	38.9M	39.61M
EBITDA Margin %	-	-	-	-	-	-	-	-
Depreciation & Amortization+	5.41M	5.55M	5.31M	9.84M	15.94M	23.56M	25.76M	25.59M
D&A / Revenue %	-	-	-	-	-	-	-	-
Operating Income+	3.1M	4.01M	3.63M	2.61M	15.16M	43.48M	13.14M	14.02M
Operating Margin %	-	-	-	-	-	-	-	-
Interest Expense+	286.24K	0	41.23K	1.46M	3.7M	9.54M	9.46M	11.29M
Interest Coverage	10.83x	-	87.97x	1.78x	4.10x	4.56x	1.39x	1.24x
Non-Operating Income	0	0	0	287K	360K	587K	421K	473K
Pretax Income+	2.81M	4.01M	3.59M	1.15M	11.46M	33.95M	3.27M	2.25M
Pretax Margin %	-	-	-	-	-	-	-	-
Income Tax+	0	229.33K	0	0	0	0	0	0
Effective Tax Rate %	-	-	-	-	-	-	-	-
Net Income+	2.81M	4.01M	3.59M	985K	9.96M	29.72M	2.92M	2.07M
Net Margin %	-	-	-	-	-	-	-	-
Net Income Growth %	-	0.43%	-0.11%	-0.73%	9.12%	1.98%	-0.9%	-0.29%
Funds From Operations (FFO)+	-	-	-	-	-	-	-	-
FFO Margin %	-	-	-	-	-	-	-	-
FFO Growth %	-	0.16%	-0.07%	0.22%	1.39%	1.06%	-0.46%	-0.04%
FFO per Share+	-	-	-	-	-	-	-	-
FFO Payout Ratio %	-	-	-	-	-	-	-	-
EPS (Diluted)+	0.31	0.44	0.45	0.11	0.89	2.17	0.19	0.14
EPS Growth %	-	0.42%	0.02%	-0.76%	7.09%	1.44%	-0.91%	-0.26%
EPS (Basic)	0.36	0.44	0.45	0.13	1.02	2.48	0.21	0.15
Diluted Shares Outstanding	9.13M	9.13M	7.89M	8.81M	11.25M	13.68M	15.56M	15.08M

Balance Sheet

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Assets+	125.98M	126.55M	164.17M	262.24M	505.51M	573.43M	564.56M	605M
Asset Growth %	-	0%	0.3%	0.6%	0.93%	0.13%	-0.02%	0.07%
Real Estate & Other Assets+	114.43M	115.99M	128.77M	222.48M	434.89M	496.37M	447.95M	455.48M
PP&E (Net)	109.58M	111.15M	0	0	0	1.65M	1.43M	3.2M
Investment Securities	-1000K	-1000K	0	0	0	0	1000K	0
Total Current Assets+	6.9K	8.26K	13.04M	2.88M	11.81M	14.99M	69.05M	102.39M
Cash & Equivalents	6.9K	8.26K	12.34M	1.89M	8.85M	9.02M	4.02M	1.58M
Receivables	0	0	0	283K	1000K	1000K	1000K	1000K
Other Current Assets	0	0	0	0	646K	4.03M	51.86M	8.63M
Intangible Assets	11.55M	10.56M	22.36M	36.88M	58.82M	60.43M	49.29M	43.92M
Total Liabilities	5.6M	2.36M	3.47M	113.15M	277.61M	278.06M	288.95M	328.5M
Total Debt+	1.76M	1.71M	1.91M	110.11M	273.22M	273.82M	282.04M	309.47M
Net Debt	1.75M	1.7M	-10.43M	108.21M	264.37M	264.81M	278.02M	307.89M
Long-Term Debt	1.76M	1.71M	0	106.81M	267.74M	267.12M	275.68M	301.47M
Short-Term Borrowings	0	0	0	0	0	0	0	0
Capital Lease Obligations	1.76M	1.71M	1.91M	3.3M	5.48M	6.71M	6.36M	8M
Total Current Liabilities+	3.84M	651.82K	1.56M	2.56M	4.22M	4.04M	6.7M	6.89M
Accounts Payable	3.46M	83.59K	463K	450K	213K	17K	30K	40K
Deferred Revenue	371.94K	344.68K	88K	1.05M	2.03M	1.48M	3.17M	2.41M
Other Liabilities	-1.76M	-1.71M	-88K	-574K	173K	196K	1.71M	12.14M
Total Equity+	122.13M	125.89M	160.71M	149.09M	227.9M	295.38M	275.61M	276.5M
Equity Growth %	-	0.03%	0.28%	-0.07%	0.53%	0.3%	-0.07%	0%
Shareholders Equity	120.38M	124.19M	137.53M	126.76M	196.52M	261.62M	250.74M	253.03M
Minority Interest	1.75M	1.7M	23.18M	22.33M	31.38M	33.76M	24.87M	23.47M
Common Stock	120.38M	124.19M	79K	75K	114K	134K	137K	147K
Additional Paid-in Capital	0	0	137.95M	132.88M	200.91M	236.84M	243.69M	261.83M
Retained Earnings	0	0	-498K	-5.71M	-6.42M	10.04M	-2.36M	0
Preferred Stock	0	0	0	0	0	0	0	0
Return on Assets (ROA)	0.02%	0.03%	0.02%	0%	0.03%	0.06%	0.01%	0%
Return on Equity (ROE)	0.02%	0.03%	0.03%	0.01%	0.05%	0.11%	0.01%	0.01%
Debt / Assets	0.01%	0.01%	0.01%	0.42%	0.54%	0.48%	0.5%	0.51%
Debt / Equity	0.01x	0.01x	0.01x	0.74x	1.20x	0.93x	1.02x	1.12x
Net Debt / EBITDA	0.21x	0.18x	-1.17x	8.69x	8.50x	3.95x	7.15x	7.77x
Book Value per Share	13.38	13.79	20.36	16.92	20.26	21.59	17.71	18.33

Cash Flow

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	5.28M	5.63M	8.31M	9.39M	17.2M	24.65M	25.57M	25.61M
Operating CF Growth %	-	0.07%	0.48%	0.13%	0.83%	0.43%	0.04%	0%
Operating CF / Revenue %	-	-	-	-	-	-	-	-
Net Income	2.81M	4.01M	666.18K	1.15M	11.46M	33.95M	2.92M	2.25M
Depreciation & Amortization	2.89M	4.67M	5.82M	9.84M	15.68M	23.24M	25.76M	25.08M
Stock-Based Compensation	136.54K	232.43K	513K	268K	309K	310K	0	247K
Other Non-Cash Items	80.91K	302.43K	-1.05M	-190K	362K	-32.48M	-5.25M	-1.21M
Working Capital Changes	-640.75K	-3.6M	-792.74K	-1.38M	-940K	-374K	2.14M	-761K
Cash from Investing+	-59.4M	-5.19M	-152.92M	-113.88M	-195.99M	-38.78M	-13.58M	-57.84M
Acquisitions (Net)	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
Sale of Investments	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
Cash from Financing+	53.71M	-438.13K	156.94M	94.03M	186.4M	17.67M	-11.3M	26.46M
Dividends Paid	0	0	-529.34K	-7.2M	-10.67M	-13.26M	-15.32M	-16.79M
Common Dividends	0	0	-459K	-7.2M	-10.67M	-13.26M	0	-16.79M
Debt Issuance (Net)	-1000K	0	0	1000K	1000K	-750K	1000K	1000K
Share Repurchases	0	0	0	-5.01M	0	0	-14.62M	-775K
Other Financing	61.01M	-438.13K	19.45M	-559K	-2.9M	-3.96M	-1.74M	-91K
Net Change in Cash+	-417.6K	1.36K	12.33M	-10.45M	7.6M	3.55M	687K	-5.78M
Exchange Rate Effect	0	0	280	0	0	0	0	0
Cash at Beginning	424.5K	6.9K	8.26K	12.34M	1.89M	9.5M	13.04M	13.73M
Cash at End	6.9K	8.26K	12.34M	1.89M	9.5M	13.04M	13.73M	7.95M
Free Cash Flow+	5.28M	5.63M	8.31M	9.39M	17.2M	-164.5M	-58.89M	25.61M
FCF Growth %	-	0.07%	0.48%	0.13%	0.83%	-10.56%	0.64%	1.43%
FCF / Revenue %	-	-	-	-	-	-	-	-

Key Ratios

Metric	2017	2018	2019	2020	2021	2022	2023	2024
FFO per Share	0.9	1.05	1.13	1.23	2.3	3.9	1.84	1.83
FFO Payout Ratio	0%	0%	5.16%	66.53%	41.19%	24.88%	53.42%	60.69%
NOI Margin	82.63%	86.18%	84.61%	87.97%	77.25%	79.5%	84.93%	76.96%
Net Debt / EBITDA	0.21x	0.18x	-1.17x	8.69x	8.50x	3.95x	7.15x	7.77x
Debt / Assets	1.4%	1.35%	1.16%	41.99%	54.05%	47.75%	49.96%	51.15%
Interest Coverage	10.83x	-	87.97x	1.78x	4.10x	4.56x	1.39x	1.24x
Book Value / Share	13.38	13.79	20.36	16.92	20.26	21.59	17.71	18.33
Revenue Growth	-	38.62%	12.9%	45.48%	56.52%	50.01%	1%	14.42%

Revenue by Segment

	2024
Income Properties	46.01M
Income Properties Growth	-

Frequently Asked Questions

Valuation & Price

Alpine Income Property Trust, Inc. (PINE) has a price-to-earnings (P/E) ratio of 124.1x. This suggests investors expect higher future growth.

Growth & Financials

Alpine Income Property Trust, Inc. (PINE) reported $57.4M in revenue for fiscal year 2024. This represents a 579% increase from $8.5M in 2017.

Alpine Income Property Trust, Inc. (PINE) grew revenue by 14.4% over the past year. This is steady growth.

Alpine Income Property Trust, Inc. (PINE) reported a net loss of $5.1M for fiscal year 2024.

Dividend & Returns

Yes, Alpine Income Property Trust, Inc. (PINE) pays a dividend with a yield of 6.40%. This makes it attractive for income-focused investors.

Alpine Income Property Trust, Inc. (PINE) has a return on equity (ROE) of 0.7%. This is below average, suggesting room for improvement.

Industry Metrics

Alpine Income Property Trust, Inc. (PINE) generated Funds From Operations (FFO) of $22.0M in the trailing twelve months. FFO is the primary profitability metric for REITs.

Alpine Income Property Trust, Inc. (PINE) offers a 6.40% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.

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