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Alpine Income Property Trust Inc (PINE)
NYSE:PINE
US Market

Alpine Income Property Trust Inc (PINE) AI Stock Analysis

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Alpine Income Property Trust Inc

(NYSE:PINE)

Rating:59Neutral
Price Target:
Alpine Income Property Trust Inc showcases strong revenue growth and effective cost management, but challenges like declining profitability and inconsistent cash flow indicate potential risks. Technically, the stock faces bearish sentiment with an overvalued P/E ratio, but its high dividend yield remains attractive. The earnings call offered a mixed picture with growth and strategic management offset by leverage concerns. Overall, the stock presents a balanced risk-reward scenario, warranting cautious optimism.
Positive Factors
Dividend Increase
The company increased the quarterly dividend 1.8% to $0.285 per share, yielding 6.6% annually.
Financial Performance
The company reported FFO numbers of $0.44, one penny higher than consensus estimates and analyst estimates.
Occupancy Rate
The company increased their weighted average remaining lease term to 9.0 years, and reported occupancy of 99.0%, up from 98.0% quarter-over-quarter.
Negative Factors
Asset Reallocation
The company continues to sell lower-yielding assets and reinvesting the proceeds into higher-yielding opportunities.
Market Valuation
The company shares are trading relatively attractive compared to the other triple net lease REITs with one of the lowest multiples at 9.6x versus 13.7x for the group on 2025 numbers.

Alpine Income Property Trust Inc (PINE) vs. SPDR S&P 500 ETF (SPY)

Alpine Income Property Trust Inc Business Overview & Revenue Model

Company DescriptionAlpine 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.
How the Company Makes MoneyAlpine Income Property Trust Inc generates revenue primarily through the collection of rental income from its portfolio of single-tenant commercial properties. These properties are leased to a diverse range of retail and commercial tenants under long-term net lease agreements, whereby the tenant is responsible for most property-related expenses such as maintenance, taxes, and insurance. This lease structure allows PINE to maintain a steady cash flow and minimizes its operational expenses. Additionally, the company may engage in strategic property acquisitions and dispositions to optimize its portfolio and enhance shareholder value. Significant factors contributing to its earnings include the creditworthiness of its tenants and the economic health of the retail and commercial real estate markets.

Alpine Income Property Trust Inc Earnings Call Summary

Earnings Call Date:Apr 24, 2025
(Q1-2025)
|
% Change Since: -4.79%|
Next Earnings Date:Jul 17, 2025
Earnings Call Sentiment Positive
The earnings call presented a strong start to the year with positive growth in AFFO, an increased dividend, and robust investment activity. The company showed strategic financial management through share buybacks and interest rate swaps. However, high leverage and negative NOI properties were concerns. The overall sentiment is slightly positive but with caution due to these lowlights.
Q1-2025 Updates
Positive Updates
AFFO Growth and Dividend Increase
Achieved AFFO of $0.44 per diluted share for the quarter, representing growth of approximately 5% compared to the first quarter of last year. Raised the common dividend to a new quarterly rate of $0.285.
Robust Investment Activity
Acquired three properties for $39.7 million at a cap rate of 8.6% and originated two mortgages for a total of $39.5 million with a yield of 9.5%. Total investment activity was $79.2 million at a yield of 9%.
Extended Weighted Average Lease Term
Average weighted lease term (WALT) for acquisitions was 14.3 years, improving portfolio WALT to nine years from 6.9 years a year ago.
Share Buyback and Interest Rate Management
Repurchased approximately 274,000 common shares for $4.5 million at an average price of $16.33 per share. Executed a SOFR swap fixing $50 million of principal at 3.43%.
Increased Guidance for 2025
Increased FFO and AFFO guidance for the full year 2025 to a range of $1.74 to $1.77 per diluted share from the prior range of $1.70 to $1.73.
Negative Updates
High Leverage
Ended the quarter with net debt to pro forma adjusted EBITDA of 7.9x despite having no debt maturing until 2026.
Negative NOI Properties
Two assets, a Party City in Long Island and a theater in Reno, are contributing negative NOI, with efforts underway to sell them.
High Cap Rate Dispositions
Sold three properties for $11.7 million at a blended cap rate of 9.1%, indicating higher risk or lower demand properties.
Company Guidance
In the first quarter of 2025, Alpine Income Property Trust, Inc. reported strong performance, with AFFO reaching $0.44 per diluted share, marking a 5% increase year-over-year. The company raised its quarterly dividend to $0.285 and maintained one of the highest dividend yields in the sector. The quarter's investment activity included acquiring three properties for $39.7 million at an 8.6% cap rate and originating two mortgages totaling $39.5 million at a 9.5% yield. Overall, investment activity for the quarter totaled $79.2 million at a 9% initial yield. Dispositions included three property sales for $11.7 million at a 9.1% cap rate. The company ended the quarter with $65 million in liquidity and net debt to pro forma adjusted EBITDA of 7.9x, with no debt maturing until 2026. FFO and AFFO grew by 7.3% and 4.8%, respectively, compared to the prior year. Alpine raised its full-year 2025 FFO and AFFO guidance to $1.74 to $1.77 per diluted share, driven by successful investment activities and share repurchases.

Alpine Income Property Trust Inc Financial Statement Overview

Summary
Alpine Income Property Trust Inc exhibits robust revenue growth and efficient cost management, contributing to strong financial performance. The reduction of debt enhances financial stability, although variability in Free Cash Flow and declining profitability in recent periods indicate areas for potential risk. Continued focus on maintaining profitability and consistent cash flow will be crucial for sustaining long-term growth and stability.
Income Statement
75
Positive
Alpine Income Property Trust Inc demonstrates solid performance in revenue growth, with a notable increase in revenue from $30.13 million in 2021 to $45.66 million in 2023, and $52.23 million in 2024, showcasing a significant growth trajectory. The Gross Profit Margin and EBITDA Margin maintain healthy levels, indicating efficient cost management. However, the declining Net Income from 2023 to 2024 and the lower Net Profit Margin in the TTM compared to 2022 indicate potential profitability challenges.
Balance Sheet
70
Positive
The company displays financial stability with a high Equity Ratio, as Stockholders' Equity constitutes a substantial portion of Total Assets. The complete reduction of Total Debt in the TTM period enhances financial flexibility. However, the fluctuating Stockholders' Equity and a decrease in Return on Equity from 2022 to 2024 highlight areas for improvement in effectively utilizing equity to generate profits.
Cash Flow
65
Positive
Strong Operating Cash Flow and positive Free Cash Flow in the latest TTM period indicate healthy cash generation capabilities. The Free Cash Flow to Net Income Ratio remains stable, reflecting efficient conversion of net income into cash. However, the inconsistency in Free Cash Flow growth, particularly the significant negative figure in 2022, suggests volatility in capital expenditure management and cash flow consistency.
Breakdown
TTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income StatementTotal Revenue
53.97M52.23M45.64M45.20M30.13M19.25M
Gross Profit
36.52M40.19M38.76M39.77M26.45M16.93M
EBIT
13.44M14.02M13.14M10.42M5.49M2.61M
EBITDA
39.56M39.61M38.48M33.98M30.74M12.27M
Net Income Common Stockholders
1.15M2.07M2.92M20.18M6.26M-479.00K
Balance SheetCash, Cash Equivalents and Short-Term Investments
6.14M1.58M14.98M9.02M8.85M1.89M
Total Assets
647.40M605.00M564.56M573.43M505.51M261.59M
Total Debt
364.04M309.47M282.04M272.17M273.22M109.46M
Net Debt
357.90M307.89M278.02M263.15M264.37M107.56M
Total Liabilities
383.61M328.50M288.95M278.06M277.61M112.50M
Stockholders Equity
240.95M253.03M250.74M261.62M196.52M126.76M
Cash FlowFree Cash Flow
5.35M25.61M25.64M-164.50M17.20M9.39M
Operating Cash Flow
26.73M25.61M25.64M24.65M17.20M9.39M
Investing Cash Flow
-103.91M-57.84M-13.58M-38.78M-195.99M-113.88M
Financing Cash Flow
80.77M26.46M-11.38M17.67M186.40M94.03M

Alpine Income Property Trust Inc Technical Analysis

Technical Analysis Sentiment
Neutral
Last Price15.50
Price Trends
50DMA
15.68
Negative
100DMA
15.98
Negative
200DMA
16.57
Negative
Market Momentum
MACD
-0.08
Negative
RSI
54.35
Neutral
STOCH
95.86
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PINE, the sentiment is Neutral. The current price of 15.5 is above the 20-day moving average (MA) of 15.15, below the 50-day MA of 15.68, and below the 200-day MA of 16.57, indicating a neutral trend. The MACD of -0.08 indicates Negative momentum. The RSI at 54.35 is Neutral, neither overbought nor oversold. The STOCH value of 95.86 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for PINE.

Alpine Income Property Trust Inc Risk Analysis

Alpine Income Property Trust Inc disclosed 100 risk factors in its most recent earnings report. Alpine Income Property Trust Inc reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 1 New Risks
1.
We may be subject to risks associated with commercial real estate loan participations. Q4, 2024

Alpine Income Property Trust Inc Peers Comparison

Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
69
Neutral
$1.31B-0.88%5.22%21.91%-257.05%
BFBFS
67
Neutral
$830.59M23.2713.86%6.91%5.00%-14.72%
CBCBL
65
Neutral
$776.49M11.6721.87%6.37%0.03%1997.67%
61
Neutral
$2.81B10.770.40%8439.00%5.73%-20.81%
59
Neutral
$220.28M167.640.47%7.22%14.71%
49
Neutral
$2.37M4.42%1.47%99.15%
SRSRG
43
Neutral
$156.02M-33.95%-36.26%-38.17%
* Real Estate Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
PINE
Alpine Income Property Trust Inc
15.50
1.02
7.04%
BFS
Saul Centers
34.63
0.14
0.41%
WHLR
Wheeler Real Estate Investment
5.29
-7,302.71
-99.93%
SRG
Seritage
2.82
-2.45
-46.49%
NTST
NETSTREIT
16.12
-0.26
-1.59%
CBL
CBL & Associates Properties
24.84
3.89
18.57%

Alpine Income Property Trust Inc Corporate Events

Executive/Board ChangesShareholder MeetingsBusiness Operations and Strategy
Alpine Income Property Trust Holds 2025 Annual Meeting
Neutral
May 23, 2025

On May 21, 2025, Alpine Income Property Trust, Inc. held its 2025 Annual Meeting of Stockholders. During the meeting, stockholders elected five directors, approved executive compensation for 2024, decided on an annual frequency for future compensation votes, and ratified Grant Thornton LLP as the accounting firm for 2025. The decision to hold annual advisory votes on executive compensation aligns with both stockholder and board recommendations, potentially impacting the company’s governance and stakeholder engagement strategies.

The most recent analyst rating on (PINE) stock is a Buy with a $18.75 price target. To see the full list of analyst forecasts on Alpine Income Property Trust Inc stock, see the PINE Stock Forecast page.

DividendsFinancial Disclosures
Alpine Income Property Trust Q1 2025 Financial Results
Neutral
Apr 24, 2025

On April 24, 2025, Alpine Income Property Trust reported its financial results for the first quarter of 2025, ending March 31. The company closed investments totaling $79.2 million with a weighted average initial cash yield of 9.0% and increased its dividend for the quarter. Despite a net loss of $0.08 per diluted share, the company reported funds from operations (FFO) and adjusted funds from operations (AFFO) of $0.44 per diluted share. The company continues to focus on sourcing attractive investments and recycling capital to strengthen its portfolio, which includes 134 properties across 35 states with a high occupancy rate of 98.6%.

Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.