Alpine Income Property Trust Inc (PINE)
NYSE:PINE
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Alpine Income Property Trust Inc
(NYSE:PINE)
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Rating:54Neutral
Price Target:
$19.50
▼(-1.61% Downside)
Action:Reiterated
Date:05/23/26
The score is held back primarily by weakened financial quality—recent net losses, materially negative free cash flow, and elevated leverage—despite positive operating cash flow. Offsetting this, the latest earnings call was constructive with raised guidance and strong FFO/AFFO momentum, while technicals are neutral and valuation is mixed (high P/E but a solid dividend yield).
Positive Factors
High occupancy & long lease duration
Near-full occupancy and a 9.3-year WALT materially reduce lease rollover risk and support predictable rental cash flows. For a single-tenant net-lease REIT, long-duration contracts and high occupancy underpin durable FFO stability and help sustain dividends through economic cycles.
Negative Factors
Elevated leverage
Debt levels around 1.1–1.4x debt-to-equity (and management-reported net debt/EBITDA ~6.6x) constrain balance sheet flexibility. In a rate-sensitive REIT context, elevated leverage amplifies refinancing and interest-rate risk and limits the firm's ability to fund growth without issuing dilutive capital.
Read all positive and negative factors
Positive Factors
Negative Factors
High occupancy & long lease duration
Near-full occupancy and a 9.3-year WALT materially reduce lease rollover risk and support predictable rental cash flows. For a single-tenant net-lease REIT, long-duration contracts and high occupancy underpin durable FFO stability and help sustain dividends through economic cycles.
Read all positive factors
Alpine Income Property Trust Inc (PINE) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$314.63M
Dividend Yield7.01%
Average Volume (3M)161.44K
Price to Earnings (P/E)32.0
Beta (1Y)0.10
Revenue Growth19.95%
EPS Growth-181.87%
CountryUS
EmployeesN/A
SectorReal Estate
Sector Strength53
IndustryREIT - Retail
Share Statistics
EPS (TTM)-0.07
Shares Outstanding16,524,710
10 Day Avg. Volume160,354
30 Day Avg. Volume161,441
Financial Highlights & Ratios
PEG Ratio0.37
Price to Book (P/B)0.86
Price to Sales (P/S)3.96
P/FCF Ratio-2.89
Enterprise Value/Market Cap2.17
Enterprise Value/Revenue10.56
Enterprise Value/Gross Profit17.71
Enterprise Value/Ebitda14.82
Forecast
1Y Price Target
$21.29Price Target Upside7.40% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering7
EPS Forecast (FY)0.41
Revenue Forecast (FY)$74.83M
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
PINE primarily makes money by collecting rental income from tenants leasing its properties. Most of its portfolio is structured as single-tenant net leases (often referred to as “triple-net” leases), where the tenant is generally responsible for p...
Alpine Income Property Trust Inc Earnings Call Summary
Earnings Call Date:Apr 23, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 16, 2026
Earnings Call Sentiment Positive
The call highlights strong operational and financial momentum: 20% YoY FFO/AFFO growth, raised full-year guidance (~12% implied growth), successful equity raises ($36.2M), a high-occupancy, long-duration property portfolio, and a loan portfolio yielding ~13.5% and at the target ~20% allocation. Headwinds are mostly timing and structure-related—loan funding cadence, PIK components, restricted cash for loan reserves, and modest leverage (net debt/EBITDA 6.6x). Management described a robust pipeline and confidence in reinvestment opportunities, positioning the company to capitalize on accretive opportunities while managing short-term funding and timing variability.Positive Updates
Strong Financial Results and Growth in FFO/AFFO
FFO and AFFO were $0.53 per diluted share for the quarter, representing 20% year-over-year growth. Company raised full-year 2026 guidance to FFO $2.09–$2.13 and AFFO $2.11–$2.15 per diluted share, midpoints implying approximately 12% growth.
Negative Updates
Timing and Volatility from Loan Funding and Repayments
Management noted that timing of funding and repayments can cause quarter-to-quarter variability in loan portfolio size and earnings; one near-term loan payoff (referenced around July 2026) could add volatility to earnings.
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Financial Results and Growth in FFO/AFFO
FFO and AFFO were $0.53 per diluted share for the quarter, representing 20% year-over-year growth. Company raised full-year 2026 guidance to FFO $2.09–$2.13 and AFFO $2.11–$2.15 per diluted share, midpoints implying approximately 12% growth.
Read all positive updates
Company Guidance
Alpine raised its 2026 guidance, increasing planned investment activity by $100 million to a new deployment range of $170–$200 million and lifting full‑year FFO to $2.09–$2.13 and AFFO to $2.11–$2.15 per diluted share (management said this implies roughly 12% growth at the midpoints). The company noted its loan book has reached its targeted ~20% of total undepreciated assets, ended the quarter with net debt to pro forma adjusted EBITDA of 6.6x and about $90 million of liquidity, and funded recent activity with $36.2 million of ATM equity ($31.6M common, $4.6M preferred). Management also reaffirmed the new quarterly common dividend of $0.30 (a 57% AFFO payout ratio for the quarter).Alpine Income Property Trust Inc Financial Statement Overview
Summary
Income Statement
52
Neutral
Balance Sheet
48
Neutral
Cash Flow
39
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 64.73M | 60.53M | 52.23M | 45.64M | 45.19M | 30.13M |
| Gross Profit | 38.58M | -6.61M | 40.19M | 38.76M | 35.93M | 23.27M |
| EBITDA | 46.09M | 40.76M | 39.14M | 38.48M | 66.46M | 30.74M |
| Net Income | 707.00K | -2.66M | 2.07M | 2.92M | 29.72M | 9.96M |
Balance Sheet | ||||||
| Total Assets | 745.13M | 715.87M | 605.00M | 564.56M | 573.43M | 505.51M |
| Cash, Cash Equivalents and Short-Term Investments | 2.62M | 4.59M | 1.58M | 14.98M | 9.02M | 8.85M |
| Total Debt | 367.11M | 394.18M | 309.47M | 282.04M | 273.82M | 273.22M |
| Total Liabilities | 411.46M | 414.62M | 328.50M | 288.95M | 278.06M | 277.61M |
| Stockholders Equity | 312.46M | 279.88M | 253.03M | 250.74M | 261.62M | 196.52M |
Cash Flow | ||||||
| Free Cash Flow | -46.39M | -82.80M | 25.61M | -58.89M | -164.50M | 17.20M |
| Operating Cash Flow | 22.17M | 25.75M | 25.61M | 25.57M | 24.65M | 17.20M |
| Investing Cash Flow | -79.00M | -103.86M | -57.84M | -13.58M | -38.78M | -195.99M |
| Financing Cash Flow | 72.31M | 109.16M | 26.46M | -11.30M | 17.67M | 186.40M |
Alpine Income Property Trust Inc Technical Analysis
Positive
19.82
Price Trends
18.98
Positive
18.59
Positive
16.65
Positive
Market Momentum
-0.03
Positive
48.15
Neutral
39.18
Neutral
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 19.82 is above the 20-day moving average (MA) of 19.20, above the 50-day MA of 18.98, and above the 200-day MA of 16.65, indicating a neutral trend. The MACD of -0.03 indicates Positive momentum. The RSI at 48.15 is Neutral, neither overbought nor oversold. The STOCH value of 39.18 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for PINE.
Alpine Income Property Trust Inc Risk Analysis
Alpine Income Property Trust Inc disclosed 101 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 0 New Risks
Alpine Income Property Trust Inc Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
67 Neutral | $845.01M | 21.62 | 11.80% | 7.89% | 8.31% | -28.42% | |
66 Neutral | $1.48B | 6.24 | 49.14% | 6.79% | 10.29% | 160.54% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
55 Neutral | $282.84M | 75.48 | 47.95% | ― | -67.13% | -68.06% | |
54 Neutral | $314.63M | 32.01 | 0.27% | 7.01% | 19.95% | -181.87% | |
43 Neutral | $1.34M | -1.05 | 20.26% | ― | -4.01% | 99.98% | |
42 Neutral | $135.74M | -1.25 | -19.47% | ― | -5.08% | 49.80% |
* Real Estate Sector Average
PINE
Alpine Income Property Trust Inc
19.29
5.39
38.79%
SITC
SITE Centers
5.35
-0.39
-6.86%
BFS
Saul Centers
34.53
4.19
13.81%
WHLR
Wheeler Real Estate Investment
1.14
-457.06
-99.75%
SRG
Seritage
2.46
-0.39
-13.68%
CBL
CBL & Associates Properties
47.23
24.32
106.15%
Alpine Income Property Trust Inc Corporate Events
Executive/Board ChangesShareholder Meetings
Alpine Income Property Trust Shareholders Back Board, Governance
Positive
May 22, 2026
At its 2026 Annual Meeting of Stockholders held on May 21, 2026, Alpine Income Property Trust, Inc. shareholders elected John P. Albright, Rachel Elias Wein, M. Carson Good, Andrew C. Richardson, and Brenna A. Wadleigh to the board of directors to...
Business Operations and StrategyPrivate Placements and Financing
Alpine Expands At-The-Market Preferred and Common Offerings
Positive
Apr 24, 2026
On April 24, 2026, Alpine Income Property Trust expanded its at-the-market preferred stock offering program by adding Cantor Fitzgerald Co. and Huntington Securities as additional sales agents, while amending existing equity distribution agreemen...
Business Operations and StrategyFinancial DisclosuresM&A TransactionsPrivate Placements and Financing
Alpine Income Property Trust Boosts 2026 Outlook on Growth
Positive
Apr 23, 2026
On April 23, 2026, Alpine Income Property Trust reported first-quarter 2026 results showing a sharp improvement in profitability, with revenue rising to $18.4 million from $14.2 million a year earlier and net income of $2.2 million versus a loss i...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
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.