Alpine Income Property Trust, Inc.

PINE

Real EstateSmall CapUS Equities · NYSE / NASDAQ

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Company Profile

Alpine Income Property Trust, Inc. is a publicly traded real estate investment trust. The firm seeks to deliver attractive risk-adjusted returns and dependable cash dividends by investing in, owning and operating a portfolio of single tenant net leased commercial income properties that are predominately leased to high-quality publicly traded and credit-rated tenants. The Company also complements its income property portfolio by strategically investing in a select portfolio of commercial loan investments intended to deliver an attractive risk-adjusted return. Alpine Income Property Trust, Inc. was established in August 19, 2019 and incorporated in Maryland, USA.

Valuation

Market Cap$339M

Current Price$19.09

P/E Ratio-

P/B Ratio1.01

EV / EBITDA14.86

EV / Sales11.04

Profitability

Operating Margin-

Net Profit Margin-4.4%

EBITDA Margin66.0%

Returns

ROE-0.9%

ROCE-

ROIC %1.5%

ROA-0.4%

Solvency

Current Ratio36.09

Debt / Equity1.28

Debt / Assets0.54

CFO / Net Profit-9.69

Price History▲ 22.61% over 1Y

Technical Chart

Historical Performance Charts

5-year financial trends. Figures in USD millions.

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

Growth Summary

Latest fiscal year: 2025

Revenue$61M▲ 15.9%

EBITDA$40M

Net Profit$-3M▼ 228.6%

Cash from Ops (CFO)$26M

Free Cash Flow (FCF)$26M

Revenue CAGR 3Y-

Revenue CAGR 5Y-

Net Profit CAGR 3Y-

Net Profit CAGR 5Y-

Historical Growth

Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)

Year	Revenue	EBITDA	Net Profit	FCF	ROE	Rev Growth 1Y	NP Growth 1Y
2025	$61M	$40M	$-3M	$26M	-0.9%	15.9%	-228.6%
2024	$52M	$39M	$2M	$23M	0.7%	14.4%	-29.2%
2023	$46M	$38M	$3M	$23M	1.1%	1.0%	-90.2%
2022	$45M	$66M	$30M	$25M	10.1%	-	-

Financial Statements

Income statement, balance sheet, and cash flow as reported

Consolidated Figures in USD Millions.

Metric	2022	2023	2024	2025
Total Revenue	45.19	45.64	52.23	60.53
Cost Of Revenue	9.26	10.94	12.03	12.38
Gross Profit	35.93	34.71	40.19	48.16
Operating Expense	25.52	27.70	27.93	29.67
Operating Income	10.41	7	12.27	18.48
EBITDA	66.46	38.48	39.14	39.97
EBIT	42.90	12.72	13.54	12.59
Pretax Income	33.95	3.27	2.25	-2.88
Net Income	29.72	2.92	2.07	-2.66
Net Income Common Stockholders	29.72	2.92	2.07	-3.21
Total Expenses	34.78	38.64	39.96	42.05
Interest Expense	8.94	9.46	11.29	15.47
Interest Income	0	0.64	0	0
Selling General And Administration	1.96	1.95	2.33	2.29
Normalized EBITDA	33.37	32.05	37.14	45.07
Normalized Income	3.58	-2.16	0.49	2.45
Basic EPS	2.48	0.21	0.15	-0.22
Diluted EPS	2.17	0.19	0.14	-0.22
Tax Effect Of Unusual Items	6.95	1.35	0.42	0
Tax Rate For Calcs	0.21	0.21	0.21	0
Total Unusual Items	33.09	6.43	2	-5.10
Total Unusual Items Excluding Goodwill	33.09	6.43	2	-5.10
Net Income From Continuing Operation Net Minority Interest	29.72	2.92	2.07	-2.66
Reconciled Depreciation	23.24	25.34	25.08	26.77
Reconciled Cost Of Revenue	9.59	11.35	12.55	12.99
Net Interest Income	-9.54	-10.16	-12.01	-16.27
Net Income From Continuing And Discontinued Operation	29.72	2.92	2.07	-2.66
Total Operating Income As Reported	43.48	13.14	14.02	13.14
Diluted Average Shares	13.68	15.56	15.08	15.55
Basic Average Shares	11.98	13.93	13.86	14.33
Diluted NI Availto Com Stockholders	29.72	2.92	2.07	-3.21
Preferred Stock Dividends	0	0	0	0.55
Minority Interests	-4.24	-0.35	-0.19	0.23
Net Income Including Noncontrolling Interests	33.95	3.27	2.25	-2.88
Net Income Continuous Operations	33.95	3.27	2.25	-2.88
Other Income Expense	33.09	6.43	2	-5.10
Special Income Charges	33.07	6.14	1.75	-5.35
Gain On Sale Of Ppe	33.80	9.33	3.44	2.07
Other Special Charges	0.73	-0.02	0	0
Write Off	0	3.22	1.69	7.42
Gain On Sale Of Security	0.01	0.29	0.25	0.24
Net Non Operating Interest Income Expense	-9.54	-10.16	-12.01	-16.27
Total Other Finance Cost	0.60	0.71	0.72	0.80
Interest Expense Non Operating	8.94	9.46	11.29	15.47
Interest Income Non Operating	0	0.64	0	0
Depreciation Amortization Depletion Income Statement	23.56	25.76	25.59	27.38
Depreciation And Amortization In Income Statement	23.56	25.76	25.59	27.38
General And Administrative Expense	1.96	1.95	2.33	2.29
Other Gand A	1.28	1.38	1.81	1.51
Insurance And Claims	0.37	0.25	0.22	0.27
Salaries And Wages	0.31	0.32	0.30	0.51
Operating Revenue	45.19	45.60	51.77	60.01

Peer Comparison

Real Estate sector peers, ranked by market cap

Company	Ticker	Market Cap	P/E	P/B	ROE	EV/EBITDA
Alpine Income Property Trust, Inc.this co.	PINE	$339M	-	1.01	-0.9%	14.86
Claros Mortgage Trust, Inc.	CMTG	$363M	-	0.24	-31.9%	-
NexPoint Real Estate Finance, Inc.	NREF	$328M	5.03	0.69	12.7%	-
Transcontinental Realty Investors, Inc.	TCI	$322M	23.26	0.38	1.6%	85.49
Ready Capital Corporation

Learn while you research

Hand-picked academy chapters to deepen your understanding of Alpine Income Property Trust, Inc. and the metrics that matter.

01 Stock Valuation BasicsHow to think about what a fair price for a stock looks like.7 min read 02 Stock Market Risks

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Year

Revenue

EBITDA

Net Profit

FCF

ROE

Rev Growth 1Y

NP Growth 1Y

2025

$61M

$40M

$-3M

$26M

-0.9%

15.9%

-228.6%

2024

$52M

$39M

$2M

$23M

0.7%

14.4%

-29.2%

2023

$46M

$38M

$3M

$23M

1.1%

1.0%

-90.2%

2022

$45M

$66M

$30M

$25M

10.1%

Metric

2022

2023

2024

2025

Total Revenue

45.19

45.64

52.23

60.53

Cost Of Revenue

9.26

10.94

12.03

12.38

Gross Profit

35.93

34.71

40.19

48.16

Operating Expense

25.52

27.70

27.93

29.67

Operating Income

10.41

12.27

18.48

EBITDA

66.46

38.48

39.14

39.97

EBIT

42.90

12.72

13.54

12.59

Pretax Income

33.95

3.27

2.25

-2.88

Net Income

29.72

2.92

2.07

-2.66

Net Income Common Stockholders

29.72

2.92

2.07

-3.21

Total Expenses

34.78

38.64

39.96

42.05

Interest Expense

8.94

9.46

11.29

15.47

Interest Income

0.64

Selling General And Administration

1.96

1.95

2.33

2.29

Normalized EBITDA

33.37

32.05

37.14

45.07

Normalized Income

3.58

-2.16

0.49

2.45

Basic EPS

2.48

0.21

0.15

-0.22

Diluted EPS

2.17

0.19

0.14

-0.22

Tax Effect Of Unusual Items

6.95

1.35

0.42

Tax Rate For Calcs

0.21

Total Unusual Items

33.09

6.43

-5.10

Total Unusual Items Excluding Goodwill

33.09

6.43

-5.10

Net Income From Continuing Operation Net Minority Interest

29.72

2.92

2.07

-2.66

Reconciled Depreciation

23.24

25.34

25.08

26.77

Reconciled Cost Of Revenue

9.59

11.35

12.55

12.99

Net Interest Income

-9.54

-10.16

-12.01

-16.27

Net Income From Continuing And Discontinued Operation

29.72

2.92

2.07

-2.66

Total Operating Income As Reported

43.48

13.14

14.02

13.14

Diluted Average Shares

13.68

15.56

15.08

15.55

Basic Average Shares

11.98

13.93

13.86

14.33

Diluted NI Availto Com Stockholders

29.72

2.92

2.07

-3.21

Preferred Stock Dividends

0.55

Minority Interests

-4.24

-0.35

-0.19

0.23

Net Income Including Noncontrolling Interests

33.95

3.27

2.25

-2.88

Net Income Continuous Operations

33.95

3.27

2.25

-2.88

Other Income Expense

33.09

6.43

-5.10

Special Income Charges

33.07

6.14

1.75

-5.35

Gain On Sale Of Ppe

33.80

9.33

3.44

2.07

Other Special Charges

0.73

-0.02

Write Off

3.22

1.69

7.42

Gain On Sale Of Security

0.01

0.29

0.25

0.24

Net Non Operating Interest Income Expense

-9.54

-10.16

-12.01

-16.27

Total Other Finance Cost

0.60

0.71

0.72

0.80

Interest Expense Non Operating

8.94

9.46

11.29

15.47

Interest Income Non Operating

0.64

Depreciation Amortization Depletion Income Statement

23.56

25.76

25.59

27.38

Depreciation And Amortization In Income Statement

23.56

25.76

25.59

27.38

General And Administrative Expense

1.96

1.95

2.33

2.29

Other Gand A

1.28

1.38

1.81

1.51

Insurance And Claims

0.37

0.25

0.22

0.27

Salaries And Wages

0.31

0.32

0.30

0.51

Operating Revenue

45.19

45.60

51.77

60.01

Company

Ticker

Market Cap

P/E

P/B

ROE

EV/EBITDA

Alpine Income Property Trust, Inc.this co.

PINE

$339M

1.01

-0.9%

14.86

Claros Mortgage Trust, Inc.

CMTG

$363M

0.24

-31.9%

NexPoint Real Estate Finance, Inc.

NREF

$328M

5.03

0.69

12.7%

Transcontinental Realty Investors, Inc.

TCI

$322M

23.26

0.38

1.6%

85.49

Ready Capital Corporation

Alpine Income Property Trust, Inc.

Valuation

Profitability

Returns

Solvency

Historical Performance Charts

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

Growth Summary

Historical Growth

Financial Statements

Peer Comparison

Alpine Income Property Trust, Inc.

Valuation

Profitability

Returns

Solvency

Historical Performance Charts

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

Growth Summary

Historical Growth

Financial Statements

Peer Comparison

Key concepts to brush up on