Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-39143 ALPINE INCOME PROPERTY TRUST, INC. (Exact name of registrant as specified in its charter) Maryland 84-2769895 (Stat ...

Exhibit 99.1 Press Release FOR IMMEDIATE RELEASE ALPINE INCOME PROPERTY TRUST REPORTS FIRST QUARTER 2025 OPERATING AND FINANCIAL RESULTS - Closed Investments of $79.2 million at a weighted average initial cash yield of 9.0% - - Increased Dividend Q1 2025 - - First Quarter Net Loss of $(0.08) per diluted share and FFO and AFFO of $0.44 per diluted share - WINTER PARK, FL – April 24, 2025 – Alpine Income Property Trust, Inc. (NYSE: PINE) (the "Company" or "PINE"), an owner and operator of single tenant net le ...

Core Insights - Alpine Income Property Trust, Inc. reported a first quarter net loss of $(1,179) thousand, translating to $(0.08) per diluted share, while Funds From Operations (FFO) and Adjusted Funds From Operations (AFFO) were both $6,909 thousand, or $0.44 per diluted share [3][19][47] - The company completed investments totaling $79.2 million with a weighted average initial cash yield of 9.0% during the first quarter of 2025 [1][4] - The company announced an increase in dividends for Q1 2025, declaring $0.285 per share, maintaining a payout ratio of 64.8% for both FFO and AFFO [19][47] Investment Activity - In Q1 2025, the company made seven investments, including three properties and four commercial loans, amounting to $79.2 million [4] - The weighted average initial cash cap rate for properties was 8.6%, while the cash yield for commercial loans was 9.5% [4] - The company also disposed of three properties for $11.7 million, achieving a weighted average exit cash cap rate of 9.1% [6] Property Portfolio - As of March 31, 2025, the company owned 134 properties with a total square footage of 4.1 million and an annualized base rent of $47.1 million [7] - The portfolio had a weighted average remaining lease term of 9.0 years and an occupancy rate of 98.6% [7] - 50% of the annualized base rent was attributable to investment-grade rated tenants, and 81% was from credit-rated tenants [7] Financial Performance - Total revenues for Q1 2025 were $14,206 thousand, up from $12,466 thousand in Q1 2024 [3] - Operating expenses increased to $13,088 thousand from $9,883 thousand year-over-year, primarily due to higher depreciation and impairment provisions [43] - The company reported a net loss of $(1,278) thousand for the quarter, compared to a loss of $(283) thousand in the same period last year [43] Balance Sheet and Capital Markets - As of March 31, 2025, the company had a net debt to total enterprise value ratio of 57.1% and a fixed charge coverage ratio of 3.5x [11] - Total liquidity was reported at $64,876 thousand, including $56,358 thousand available under the revolving credit facility [11][12] - The company had total long-term debt of $356,511 thousand with a weighted average interest rate of 4.51% [15] 2025 Outlook - The company revised its 2025 outlook, increasing the investment range to $70 million to $100 million and the disposition range to $50 million to $70 million [22] - FFO and AFFO per diluted share are projected to be between $1.74 and $1.77, reflecting an increase of $0.04 from the prior outlook [22]

Core Viewpoint - Alpine Income Property Trust, Inc. (PINE) reported strong investment activity in the first quarter, with total investments reaching $79.2 million at a weighted average initial investment yield of 9.0% [1] Investment Activity - The company acquired three net lease properties for $39.7 million, achieving a weighted average going-in cash cap rate of 8.6% and a remaining lease term of 14.3 years, indicating effective asset selection [2] - In addition to acquisitions, Alpine Income originated one seller financing structured investment and disposed of a property in Canton, OH, totaling $21.7 million in principal with a current balance of $12.6 million and a weighted average initial yield of 9.6% [3] Disposition Volume - The total disposition volume for the first quarter was $11.7 million, with a weighted average exit cash cap rate of 9.1%, including sales of properties leased to O'Reilly and At Home [4] Future Outlook - The company's strategy focuses on investing in single-tenant net leased properties leased to high-quality tenants, which is expected to provide steady rental revenues, with no debt maturities until 2026 [5] - Despite the positive outlook, macroeconomic uncertainty remains a concern for the company [5] Stock Performance - PINE's shares have increased by 9.0% over the past year, outperforming the broader real estate market, which saw a 4% increase [6]

Investment and Disposition Activity - The total investment activity for the first quarter of 2025 amounted to $79.2 million, with a weighted average initial investment yield of 9.0% [2] - Disposition activity included asset sales totaling $11.7 million, with a weighted average exit cash cap rate of 9.1% [2] - The weighted average lease term increased to 9.0 years as of March 31, 2025 [2] Detailed Investment Transactions - Three net lease properties were acquired for $39.7 million, with a weighted average going-in cash cap rate of 8.6% and a remaining lease term of 14.3 years [7] - A seller financing structured investment was originated in conjunction with a property disposition in Canton, Ohio, totaling $21.7 million in principal [7] - Three net lease properties were sold for $11.7 million, including properties leased to O'Reilly and At Home [7] Share Repurchase and Balance Sheet - The company repurchased 273,825 shares of common stock at a weighted average gross price of $16.33 per share, totaling $4.5 million [7] - As of March 31, 2025, approximately $5.5 million remained on the current common stock buyback program [7] - There were 15,642,527 shares of common stock and operating partnership units outstanding as of March 31, 2025 [7] - The company has no debt maturities until 2026 [7] Company Overview - Alpine Income Property Trust, Inc. is a publicly traded real estate investment trust focused on delivering attractive risk-adjusted returns and dependable cash dividends [4]

Analyst's Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Kindly note that our content on Seeking Alpha and other platforms doesn't constitute financial advice ...

Core Viewpoint - Alpine Income Property Trust, Inc. will report its financial and operating results for Q1 2025 on April 24, 2025, with a conference call scheduled for April 25, 2025 [1]. Group 1: Financial Reporting - The company will announce its financial results after market close on April 24, 2025 [1]. - A conference call to discuss these results is set for April 25, 2025, at 9:00 AM ET [1]. Group 2: Accessing Information - A live webcast of the conference call will be available on the company's Investor Relations page [2]. - Participants are encouraged to register and join the call at least fifteen minutes prior to the start time [2]. - A replay of the earnings call will be archived and accessible online through the Investor Relations section of the company's website [2]. Group 3: Company Overview - Alpine Income Property Trust, Inc. is a publicly traded real estate investment trust focused on delivering attractive risk-adjusted returns and dependable cash dividends [3]. - The company invests in, owns, and operates a portfolio of single-tenant net leased commercial income properties, primarily leased to high-quality publicly traded and credit-rated tenants [3].

Core Insights - Alpine Income Property Trust (NYSE: PINE) has shown a strong portfolio of investment-grade tenants and an attractive valuation, with the stock price increasing from $15.92 to $19.42 before settling at $16.21 [2] Company Overview - The company focuses on income-producing asset classes that provide sustainable portfolio income, diversification, and inflation hedging [1] - The stock's performance indicates a positive trend, reflecting investor confidence in the company's fundamentals [2] Investment Strategy - The investment approach emphasizes defensive stocks with a medium- to long-term horizon, appealing to investors seeking stability [2]

Group 1 - The net lease REIT sector has become increasingly popular among retail investors within the broader real estate investment trust industry [1] - This article focuses on the performance and characteristics of net lease REITs, which are a significant area of interest for investors [1]

Core Viewpoint - Alpine Income Property Trust, Inc. has announced a new common stock repurchase program with a total purchase price of up to $10,000,000, allowing the company flexibility in acquiring its shares in the open market [1] Company Overview - Alpine Income Property Trust, Inc. is a publicly traded real estate investment trust (REIT) focused on delivering attractive risk-adjusted returns and dependable cash dividends by investing in single tenant net leased commercial income properties, primarily leased to high-quality publicly traded and credit-rated tenants [2]