Alpine Income Property Trust Inc (PINE) AI Stock Analysis

• Market Cap: $299.51M
• Dividend Yield: 7.01%
• Average Volume (3M): 147.07K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.03
• Revenue Growth: 14.81%
• EPS Growth: -245.25%
• Country: US
• Employees: N/A
• Sector: Real Estate
• Sector Strength: 53
• Industry: REIT - Retail
• EPS (TTM): 0.06
• Shares Outstanding: 15,088,574
• 10 Day Avg. Volume: 167,718
• 30 Day Avg. Volume: 147,068
• PEG Ratio: 0.30
• Price to Book (P/B): 0.80
• Price to Sales (P/S): 3.96
• P/FCF Ratio: 9.30
• Enterprise Value/Market Cap: 1.00
• Enterprise Value/Revenue: 4.96
• Enterprise Value/Gross Profit: 5.84
• Enterprise Value/Ebitda: 6.94
• 1Y Price Target: $20.08
• Price Target Upside: 2.92% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 7
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 65 Neutral
• Price Target: $20.00 ▲(2.51% Upside)

The score is driven primarily by mixed financial performance (revenue and operating cash flow strength but a recent net loss and volatile free cash flow), partially offset by constructive technical momentum and a favorable dividend yield. Earnings call commentary is supportive due to AFFO/FFO growth and 2026 guidance, but tempered by slower expected deployment and loan concentration/variability risks.

Positive Factors

High-quality portfolio & occupancy

A large, well-leased portfolio with long WALT and near-full occupancy materially reduces cash-flow rollover risk and vacancy-driven revenue swings. High exposure to investment-grade tenants stabilizes rent collection and underpins predictable rental income and long-term dividend coverage.

Stronger liquidity and capital structure

A refreshed unsecured credit package and extended maturities materially lower near-term refinancing risk and enhance flexibility for portfolio recycling and opportunistic acquisitions. Improved liquidity supports disciplined deployment while preserving the ability to fund dividends and loan platform growth.

FFO/AFFO growth and operating cash flow

Sustained FFO/AFFO growth reflects improving cash generation from core real-estate operations, which is the key metric for REITs. Combined with consistently positive operating cash flow across recent years, this supports a durable dividend profile and funds reinvestment without reliance on recurring capital raises.

Negative Factors

Net loss and earnings volatility

A full-year net loss and uneven margins indicate earnings quality risks: recurring operating cash can mask GAAP volatility, but persistent negative net income or swings make long-term dividend coverage and return on equity less predictable, raising the bar for sustained payout and growth.

Loan concentration and credit risk

Rapid expansion of a high-yield loan platform increases yield but concentrates credit risk in larger structured loans and creates sensitivity to borrower performance and early repayments. Concentration can produce volatile interest income and loss exposure, stressing underwriting and liquidity if stressed.

Slower 2026 deployment limits growth

A planned pullback in acquisition volume reduces near-term growth in rental and loan income. If the company maintains a conservative deployment cadence, organic FFO/AFFO growth may slow, limiting the pace of portfolio rebalancing and earnings accretion from high-yield opportunities.

Alpine Income Property Trust Inc Business Overview & Revenue Model

Company Description

Alpine 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 Money

Alpine Income Property Trust Inc generates revenue primarily through rental income from its portfolio of net-leased properties. The company leases its properties to a variety of tenants under long-term agreements, which provides a stable and predictable cash flow. Key revenue streams include base rent collected from tenants, as well as any additional income from percentage rents or common area maintenance charges. PINE's emphasis on acquiring properties leased to creditworthy tenants minimizes risk and enhances sustainability of its income. The company's revenue model is further bolstered by its strategic focus on locations with strong demographic trends and favorable market conditions. Additionally, partnerships with property management firms and real estate brokers aid in property acquisition and management, contributing to its overall earnings potential.

Alpine Income Property Trust Inc Financial Statement Overview

Summary

Steady revenue growth and consistently positive operating cash flow support operations, and the reported move to zero debt in 2025 strengthens flexibility. Offsetting this, earnings quality is a concern with a 2025 net loss and meaningful volatility in margins and free cash flow.

Income Statement

Revenue has grown steadily over time (up ~5% in 2025 and positive in most prior years), and gross profit remains strong. However, profitability has weakened recently: net income turned negative in 2025 after modest profits in 2023–2024, and margins have been volatile (including an unusually elevated profit year in 2022 that did not persist). Overall, top-line momentum is a plus, but consistency of earnings is a key concern.

Balance Sheet

Leverage improved materially in 2025 with total debt reported at zero versus meaningful debt in prior years (roughly 1.0–1.4x debt relative to equity from 2021–2024), which strengthens financial flexibility on paper. Equity and assets have also grown over time. The main caution is that prior-year leverage was moderate-to-high for a REIT and profitability (return on equity) has generally been low outside of 2022, suggesting balance-sheet strength depends on stable operating performance.

Cash Flow

Operating cash flow is fairly stable and positive across the period (about $25–26M in 2022–2025), which supports ongoing operations. Free cash flow, however, has been highly volatile—deeply negative in 2022 and 2023, then positive in 2024–2025, with a sharp decline in 2025 growth versus 2024—indicating uneven cash generation after investment spending. Cash flow reliability is therefore mixed despite steady operating inflows.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	60.53M	52.23M	45.64M	45.19M	30.13M
Gross Profit	52.58M	40.19M	38.76M	35.93M	23.27M
EBITDA	40.52M	39.14M	38.48M	66.46M	30.74M
Net Income	-3.21M	2.07M	2.92M	29.72M	9.96M
Balance Sheet
Total Assets	715.87M	605.00M	564.56M	573.43M	505.51M
Cash, Cash Equivalents and Short-Term Investments	4.59M	1.58M	14.98M	9.02M	8.85M
Total Debt	0.00	309.47M	282.04M	273.82M	273.22M
Total Liabilities	414.62M	328.50M	288.95M	278.06M	277.61M
Stockholders Equity	301.26M	253.03M	250.74M	261.62M	196.52M
Cash Flow
Free Cash Flow	25.75M	25.61M	-58.89M	-164.50M	17.20M
Operating Cash Flow	25.75M	25.61M	25.57M	24.65M	17.20M
Investing Cash Flow	-103.86M	-57.84M	-13.58M	-38.78M	-195.99M
Financing Cash Flow	109.16M	26.46M	-11.30M	17.67M	186.40M

Alpine Income Property Trust Inc Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 19.51
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PINE, the sentiment is Positive. The current price of 19.51 is above the 20-day moving average (MA) of 17.83, above the 50-day MA of 17.25, and above the 200-day MA of 15.08, indicating a bullish trend. The MACD of 0.52 indicates Negative momentum. The RSI at 74.87 is Negative, neither overbought nor oversold. The STOCH value of 89.10 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for PINE.

Alpine Income Property Trust Inc Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CBL	73 Outperform	$1.12B	9.20	37.88%	6.79%	5.74%	294.33%
BFS	68 Neutral	$847.60M	29.80	11.88%	7.89%	5.75%	-37.69%
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
PINE	65 Neutral	$299.51M	-86.94	-1.00%	7.01%	14.81%	-245.25%
SITC	55 Neutral	$343.10M	11.74	2.46%	―	-69.63%	-95.99%
SRG	46 Neutral	$172.92M	-2.22	-19.72%	―	-17.76%	44.68%
WHLR	45 Neutral	$1.76M	―	116.25%	―	-1.01%	504.95%

Alpine Income Property Trust Inc Corporate Events

Alpine Income Property Trust Posts Strong Q4 2025 Results

On February 5, 2026, Alpine Income Property Trust reported its operating and financial results for the fourth quarter and full year ended December 31, 2025, highlighting record annual investment activity of $277.7 million and dispositions of $82.8 million that reshaped its portfolio. Total revenues rose to $16.9 million for the quarter and $60.5 million for the year, while net income attributable to common shareholders swung to a profit of $1.5 million in the fourth quarter but registered a full-year loss of $2.7 million; nevertheless, funds from operations and adjusted funds from operations grew, with AFFO per diluted share up 22.7% in the fourth quarter and 8.6% for the full year versus 2024, supporting a 5.3% increase in the quarterly common dividend and an outlook for further growth in 2026. Management underscored that the combination of high-yield commercial loan originations, property acquisitions at double-digit initial yields, and selective asset sales at lower exit yields is intended to enhance the portfolio’s income profile and growth trajectory for shareholders.

The most recent analyst rating on (PINE) stock is a Buy with a $21.00 price target. To see the full list of analyst forecasts on Alpine Income Property Trust Inc stock, see the PINE Stock Forecast page.

Alpine Income Property Trust Expands Preferred Stock Offering

On December 5, 2025, Alpine Income Property Trust Inc. filed Articles Supplementary to classify and designate additional shares of Series A Preferred Stock, increasing the total authorized shares to 3,758,334. This move aligns with the company’s strategic financial maneuvers to enhance its capital structure. Concurrently, the company entered into equity distribution agreements with multiple sales agents to issue and sell Series A Preferred Stock worth up to $35 million. This offering is structured as ‘at the market’ transactions, potentially impacting the company’s market presence and shareholder value.

The most recent analyst rating on (PINE) stock is a Buy with a $19.00 price target. To see the full list of analyst forecasts on Alpine Income Property Trust Inc stock, see the PINE Stock Forecast page.

Alpine Income Property Trust Announces Preferred Stock Offering

On November 5, 2025, Alpine Income Property Trust Inc announced an offering of 2,000,000 shares of its 8.00% Series A Cumulative Redeemable Preferred Stock at $25.00 per share, with an additional option for underwriters to purchase up to 300,000 more shares. The company plans to use the net proceeds from this offering to acquire preferred units in its operating partnership, mirroring the terms of the preferred stock. Additionally, the management fee for the incremental equity base from this issuance will be partially waived, reducing the fee from 1.50% to 0.75% per annum. This strategic financial move aims to strengthen the company’s capital structure and enhance its market positioning by offering attractive returns to investors while maintaining its REIT status.

The most recent analyst rating on (PINE) stock is a Hold with a $15.00 price target. To see the full list of analyst forecasts on Alpine Income Property Trust Inc stock, see the PINE Stock Forecast page.