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Alpine Income Property Trust, Inc.

PINE Real Estate Reit Retail

Alpine Income Property Trust, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $60.5 million, up 15.9% from fiscal 2024.

Revenue
+40.5%
EPS
+311.1%
Free cash flow
−132.8%
Total debt
+10.8%

Quarter to September 2026, against a year earlier

16.75 0.08 +0.48%
Market cap
$299.1M
P/E
33.3×
Fwd P/E
28.3×
Dividend yield
7.24%
F-score
5/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Sold, $m 0.26
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell 1 — — 1 — 2 1 1 — — — —
Insider Ownership 6.24%

Capital & Financial Ratios $m

Size
Market Cap 299.07
Revenue ttm 75.77
Net income ttm 13.46
Free cash flow ttm (34.87)
Net debt Q 365.82
Valuation
P/E 33.28
Forward P/E 28.30
Price / sales 3.89
Forward P/S Powerpack
Price / FCF 0.00
Price / book 0.80
Financial health
Current ratio Q 1.85
Debt / equity Q 1.08
Interest coverage Q 2.03
Growth
Revenue growth Q +40.49% (above 0%: growing)
Operating income growth Q +306.08% (above 0%: growing)
EPS, this year +376.75% (at or above 15%: strong)
EPS, next year A −12.37% (below 0%: weak)
Revenue, next year A +31.91% (at or above 10%: strong)
EPS, past 5 yrs —
EPS, next 5 yrs A +1.23%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 8.7×, against a ten-year median of 10.4×; over the ten years it ranged from 8.7× in 2026 to 15.3× in 2022.
P/E against its own 10 years 39.05%
10-year low 10-year high
P/S against its own 10 years 6.59%
10-year low 10-year high
P/B against its own 10 years 29.34%
10-year low 10-year high
EV/Sales against its own 10 years 0.52%
10-year low 10-year high

Dividends raised every year since 2019

Yield
7.24%
Annual rate
1.21
Payout ratio
262.0%
Growth, 2019–25
+64.3%/yr
  1. 0.06 ’19
  2. 0.82 ’20 +1314
  3. 1.02 ’21 +24
  4. 1.09 ’22 +7
  5. 1.10 ’23 +1
  6. 1.11 ’24 +1
  7. 1.14 ’25 +3
  8. 1.24 ’26e +9
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 14 8 39 31
Receivables — — — —
Inventory — — — —
Other — — — —
14 8 39 31
2023 2024 2025 Q'26
Payables 6 8 8 17
ST’ Debt — — — —
Other — — — —
6 8 8 17

Compound Annual Growth %

10y 5y 3y
Sales — 25.75% 10.23%
Cash Flow — 22.35% 1.47%
Earnings — 0.00% 0.00%
Book Value — 15.11% 0.66%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.53 Actual 0.18

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 0.49 0.06 Miss by 0.43
Q1 FY26 0.53 0.06 Miss by 0.47
Q2 FY26 0.54 0.16 Miss by 0.38
Q3 FY26 0.53 0.18 Miss by 0.35
Q4 FY26 0.55 — Reports 4 February 2027

EPS $

Mar Jun Sep Dec Year
’26 0.06 0.16 0.18 — —
’25 (0.08) (0.12) (0.09) 0.06 (0.22)
’24 (0.02) 0.02 0.21 (0.06) 0.14
’23 0.21 0.01 (0.05) 0.02 0.19
’22 0.06 1.05 0.72 0.34 2.17
’21 0.05 0.03 0.07 0.64 0.89
’20 0.00 0.03 0.06 0.08 0.11
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 18 20 20 — —
’25 14 15 15 17 61
’24 12 12 13 14 52
’23 11 11 12 12 46
’22 11 11 12 12 45
’21 6 7 8 9 30
’20 4 5 5 5 19
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 4 6 2 — —
’25 6 8 6 5 26
’24 7 8 6 2 23
’23 5 8 5 4 23
’22 6 7 4 7 25
’21 4 5 4 4 17
’20 3 1 4 2 9
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 10 (14) (32) — —
’25 (23) 29 (14) 2 (6)
’24 6 0 47 (42) 10
’23 61 (31) 5 10 45
’22 (60) 35 16 (5) (14)
’21 (18) (39) (47) (75) (179)
’20 (45) (28) (16) 98 (104)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.6
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue — 9 12 13 19 30 45 46 52 61 76 +27.8% 80 88 87 +13.0%
Gross margin, % — 0.00 86.18 84.61 87.97 87.81 87.97 85.58 85.08 86.86 88.90 +86.9 pt
EBT — 3 4 4 1 11 34 3 2 (3) 13 n/m
EBT margin, % — 33.07 34.26 27.10 5.95 38.05 75.14 7.16 4.32 (4.77) 17.76 (37.8) pt
Net income — 3 4 4 1 11 34 3 2 (3) 13 n/m
Per share, $
Per share, $ Revenue — 1.08 1.48 1.67 2.54 3.08 3.77 3.28 3.77 4.22 4.28 +18.6%
Earnings — 0.36 0.51 — 0.13 1.02 2.48 0.21 0.15 (0.22) 0.50 n/m
Cash flow — 0.67 0.71 1.13 1.24 1.76 2.06 1.66 1.69 1.80 1.01 +13.2%
Capex — 0.00 (0.66) (19.35) (15.01) (20.04) (3.24) 1.59 (0.98) (2.24) (2.98) n/m
Free cash flow — 0.67 0.06 (18.22) (13.77) (18.28) (1.18) 3.26 0.71 (0.44) (1.97) n/m
Book value — 1.00 15.71 20.33 19.65 23.30 24.66 19.79 19.95 21.03 20.85 +46.3%
Shares, m — 8 8 8 8 10 12 14 14 14 16 +7.7%
Valuation, ×
Valuation, × P/E — 23.75 23.75 237.88 122.97 22.27 7.67 82.07 114.76 0.00 33.28 70.6
P/S — 0.00 0.00 0.00 5.81 6.51 5.06 5.17 4.46 3.96 3.89 3.4
P/B — 0.00 0.00 0.00 0.75 0.86 0.77 0.86 0.84 0.80 0.80 0.5
EV/Sales — 0.00 0.00 0.00 11.26 15.08 10.69 10.91 10.08 9.55 8.71 7.5
EV/FCF — 0.00 0.00 0.00 23.07 (2.54) (34.19) 10.98 53.21 (91.52) (18.93) (4.6)
Cash, $m
Cash, $m Operating cash flow — 5 6 9 9 17 25 23 23 26 18 +21.9%
Capex — — (5) (153) (114) (196) (39) 22 (14) (32) (53) +29.7%
Free cash flow — 5 0 (144) (104) (179) (14) 45 10 (6) (35) n/m
Balance, $m
Balance, $m Working capital — — 0 11 0 7 9 8 0 31 14 n/m
Net debt — 2 2 (10) 105 258 254 262 294 339 366 +93.1%
Shareholders’ equity — 8 124 161 149 228 295 276 276 301 369 +57.6%
Returns, %
Returns, % ROA — 2.23 3.18 2.47 0.46 2.60 5.51 0.51 0.35 (0.49) 1.17 (2.7) pt
ROIC — 0.00 1.99 1.51 0.64 1.95 4.95 1.53 1.54 1.28 2.65 +1.3 pt
ROE — 4.26 6.08 2.52 0.64 5.29 11.36 1.02 0.75 (1.11) 2.75 (5.4) pt
People
People Employees — — — — — — — — — — — —
Revenue/emp, $m — 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 — n/m
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 2 Nov 2026

Alpine Income Property Trust, Inc. vs peers in Reit Retail (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
FCPT Four Corners Property Trust, Inc. $2.6B 21.6× 20.4× +12.86% (above 0%: growing) −5.82% (below 0%: shrinking) +24.85% (above 0%: growing) 85.95% 55.51% Compare
IVT InvenTrust Properties Corp. $2.5B 85.4× 242× +16.99% (above 0%: growing) +211.25% (above 0%: growing) +118.86% (above 0%: growing) 72.94% 17.51% Compare
NTST NETSTREIT Corp. $2.4B 87.2× 55.6× +37.17% (above 0%: growing) +981.08% (above 0%: growing) −47.21% (below 0%: shrinking) 91.03% 35.20% Compare
GTY Getty Realty Corporation $1.9B 17.5× 18.3× +13.31% (above 0%: growing) 0.00% −1,107.74% (below 0%: shrinking) 95.96% 61.69% Compare
CBL CBL & Associates Properties, Inc. $1.5B 6.8× 15.6× +3.96% (above 0%: growing) +1,775.00% (above 0%: growing) +40.87% (above 0%: growing) 65.39% 30.53% Compare
ALX Alexander's, Inc. $1.3B 6.7× — (loss-making) +34.88% (above 0%: growing) +359.66% (above 0%: growing) +202.17% (above 0%: growing) 64.08% 48.86% Compare
BFS Saul Centers, Inc. $712.1M 31.3× 57.9× +8.91% (above 0%: growing) −15.62% (below 0%: shrinking) −563.94% (below 0%: shrinking) 71.13% 16.05% Compare
PINE Alpine Income Property Trust, Inc. $299.1M 33.3× 28.3× +40.49% (above 0%: growing) n/m −132.81% (below 0%: shrinking) 89.76% 48.01%
SITC SITE CENTERS CORP. $187.4M 1.5× — (loss-making) −68.41% (below 0%: shrinking) n/m −95.37% (below 0%: shrinking) 72.45% (84.37%) Compare
Median of peers $1.7B 19.5× 38.0× +13.09% +211.25% −11.18% 72.70% 32.87%

All 26 Reit Retail stocks →

Pay and ownership Proxy statement filed 7 April 2026

Ownership

Directors and executive officers, together less than 1%
CTO 14.00%
Blackrock, Inc. 5.30%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Alpine Income Property Trust, Inc. (PINE) Latest News

4 Nov

Impact 3 · · The Motley Fool

29 Oct

Impact 4 · · GlobeNewswire

26 Oct

Impact 3 · · Zacks

24 Oct

Impact 3 · · Simply Wall St.

23 Oct

Impact 4 · · MarketBeat
Impact 4 · · Moby

22 Oct

Impact 4 · · GlobeNewswire earnings
Impact 3 · · Zacks
Impact 3 · · Associated Press

20 Oct

Impact 4 · · Zacks

9 Oct

Impact 4 · · GlobeNewswire

28 Jul

Impact 3 ·

24 Jul

Impact 3 ·
Impact 3 · · MarketBeat
Impact 3 · · Moby transcript

23 Jul

Impact 3 ·
Impact 3 ·

5 Jun

Impact 4 · · Simply Wall St.

4 May

Impact 3 · · Simply Wall St.

27 Apr

Impact 3 · · MarketBeat

25 Apr

Impact 4 · · GuruFocus.com

24 Apr

Impact 3 · · Moby

23 Apr

Impact 4 · · GlobeNewswire
Impact 3 · · Zacks

10 Mar

Impact 3 · · Simply Wall St.

5 Mar

Impact 4 · · GlobeNewswire

10 Feb

Impact 4 · · Zacks
Impact 4 · · Simply Wall St.
Impact 3 · · Zacks

9 Feb

Impact 4 · · Insider MonkeySimply Wall St.MarketBeatGuruFocus.comAssociated Press FinanceMotley FoolZacksZacks
stockrow.com/PINE · Data as of Nov 2, 2026 · For information only; not investment advice. · © 2026 stockrow.com