Portfolio Overview - The company has 128 properties with an enterprise value of $575 million [6] - The total portfolio square footage is 4.1 million [6] - The implied cap rate is 8.8% with 96% of the portfolio being retail net lease [6] - 48% of the Annualized Base Rent (ABR) comes from investment-grade rated tenants [6] - The annualized dividend yield is 8.0% [6] - The weighted average lease term is 8.7 years [6] Financial Highlights - The company's basis per square foot is $139, which is less than half of the peer average [15] - Year-to-date, the company repurchased 546,390 common shares for a net cost of $8.8 million [15] - The company's annualized base rent (ABR) is $46.3 million [53] Market Position and Strategy - The company's top tenant accounts for 12% of ABR [53] - 52% of ABR comes from MSAs with a population exceeding one million people [59] - The company has $358.5 million in total debt with a weighted-average interest rate of 4.50% [63]

Core Insights - Alpine Income (PINE) reported quarterly funds from operations (FFO) of $0.46 per share, exceeding the Zacks Consensus Estimate of $0.43 per share, and showing a slight increase from $0.45 per share a year ago, resulting in an FFO surprise of +6.98% [1] - The company posted revenues of $14.56 million for the quarter ended September 2025, which was below the Zacks Consensus Estimate by 0.42%, but an increase from $13.48 million year-over-year [2] - The stock has underperformed the market, losing approximately 17.6% since the beginning of the year compared to the S&P 500's gain of 13.9% [3] Financial Performance - Over the last four quarters, Alpine Income has surpassed consensus FFO estimates three times [2] - The current consensus FFO estimate for the upcoming quarter is $0.45 on revenues of $14.9 million, and for the current fiscal year, it is $1.76 on revenues of $58.58 million [7] Market Outlook - The sustainability of the stock's price movement will largely depend on management's commentary during the earnings call [3] - The Zacks Industry Rank indicates that the REIT and Equity Trust - Other sector is currently in the top 34% of over 250 Zacks industries, suggesting a favorable outlook for stocks in this category [8] - The estimate revisions trend for Alpine Income was mixed ahead of the earnings release, resulting in a Zacks Rank 3 (Hold) for the stock, indicating expected performance in line with the market [6]

Revenue and Income - Lease income increased to $12.1 million for Q3 2025, up 3.4% from $11.7 million in Q3 2024[190] - Total revenues for Q3 2025 reached $14.6 million, reflecting an 8.0% increase compared to $13.5 million in Q3 2024[190] - Total revenues increased by 13.5% to $43.6 million for the nine months ended September 30, 2025, compared to $38.4 million in 2024[202] - Lease income rose by 4.2% to $36.0 million, driven by increased rents from property acquisitions[203] - Interest income from commercial loans and investments surged by 107.2% to $7.4 million, attributed to an expanded portfolio[204] Expenses and Losses - Total operating expenses increased to $12.1 million in Q3 2025, up 15.8% from $10.4 million in Q3 2024[190] - Total operating expenses increased by 25.2% to $38.5 million, primarily due to a significant rise in the provision for impairment[202] - Interest expense increased to $3.9 million in Q3 2025, up 23.5% from $3.2 million in Q3 2024[200] - Interest expense rose by 32.3% to $11.8 million, driven by higher average outstanding balances on the Company's Credit Facility[212] - The company recorded a provision for impairment of $1.9 million in Q3 2025, compared to $0.4 million in Q3 2024, marking a 353.8% increase[195] - The provision for impairment recorded was $6.6 million, a substantial increase from $0.6 million in the prior year[207][208] - Net loss for Q3 2025 was $1.4 million, a decrease of $4.8 million from net income of $3.4 million in Q3 2024[201] - Net loss for the nine months ended September 30, 2025, was $4.5 million, a decrease of $7.8 million compared to net income of $3.3 million in 2024[213] Property and Assets - The company sold 11 properties for $34.3 million during the nine months ended September 30, 2025, generating gains of $2.0 million[186] - As of September 30, 2025, the portfolio was 99% occupied, with a weighted average remaining lease term of 8.7 years[187] - The company owned 128 properties with a total gross leasable area of 4.1 million square feet across 34 states as of September 30, 2025[187] - The Company acquired five properties for a total purchase price of $60.8 million during the nine months ended September 30, 2025[216] - Cash totaled $6.6 million as of September 30, 2025, including $5.5 million in restricted cash[214] - The Company has $250.0 million in long-term debt commitments, with an outstanding balance of $158.5 million as of September 30, 2025[215] Shareholder Metrics - Funds from operations (FFO) increased to $7,135 million for the three months ended September 30, 2025, up from $6,690 million in 2024, representing a growth of 6.7%[230] - Adjusted funds from operations (AFFO) also rose to $7,128 million for the three months ended September 30, 2025, compared to $6,649 million in 2024, marking an increase of 7.2%[230] - FFO per diluted share was $0.46 for the three months ended September 30, 2025, slightly up from $0.45 in 2024[230] - AFFO per diluted share increased to $0.46 for the three months ended September 30, 2025, compared to $0.44 in 2024[230] - The weighted average number of diluted shares increased to 15,382,044 for the three months ended September 30, 2025, from 14,968,086 in 2024[228] Depreciation and Impairment - Depreciation and amortization expenses were $6,597 million for the three months ended September 30, 2025, compared to $6,340 million in 2024[228] - The company reported a provision for impairment of $1,915 million for the three months ended September 30, 2025, significantly higher than $422 million in the same period of 2024[228] Off-Balance Sheet Arrangements - The company did not report any off-balance sheet arrangements[231]

Financial Performance - Total revenues for Q3 2025 were $14.563 million, a 8.0% increase from $13.480 million in Q3 2024[4] - Net income attributable to PINE for Q3 2025 was $(1.310) million, compared to $3.080 million in Q3 2024[4] - Funds from operations (FFO) for Q3 2025 were $7.135 million, up from $6.690 million in Q3 2024, with FFO per diluted share at $0.46[4] - Lease income for the three months ended September 30, 2025, was $12,122,000, compared to $11,718,000 in 2024, reflecting an increase of 3.5%[37] - Funds From Operations (FFO) for the three months ended September 30, 2025, was $7,135,000, compared to $6,690,000 in 2024, marking an increase of 6.6%[40] - Adjusted Funds From Operations (AFFO) for the three months ended September 30, 2025, was $7,128,000, up from $6,649,000 in 2024, indicating a growth of 7.2%[40] - Net income (loss) attributable to Alpine Income Property Trust, Inc. for the three months ended September 30, 2025, was $(1,310,000), compared to $3,080,000 in 2024, showing a significant decline[37] Investment Activity - The company raised its full-year 2025 investment guidance to $200 - $230 million, reflecting a strong investment activity[2] - Year-to-date investments through September 30, 2025, totaled $136 million at a weighted-average initial cash yield of 8.9%[3] - The company completed total investments of $49.720 million in Q3 2025, including $21.120 million in properties and $28.600 million in commercial loans[5] - Total investments for the nine months ended September 30, 2025, amounted to $135.6 million, with a revised outlook range of $200 to $230 million for the full year[19] Property Portfolio - The property portfolio consisted of 128 properties with an annualized base rent (ABR) of $46.3 million and an occupancy rate of 99.4%[7] - 48% of the ABR is derived from investment-grade rated tenants, with Lowe's and Dick's Sporting Goods as the top two tenants[3][10] - The weighted average remaining lease term for properties at acquisition was 11.6 years[5] Debt and Liquidity - As of September 30, 2025, the Company reported a net debt to enterprise value ratio of 62.1% and a net debt to adjusted EBITDA ratio of 7.7x[12] - The Company has total liquidity of $61.4 million, with an additional borrowing capacity of $60.2 million under its Revolving Credit Facility, potentially expanding to $92.7 million[12] - The Company's total debt as of September 30, 2025, is $358.5 million, with a weighted average interest rate of 4.50%[14] - The Company utilized interest rate swaps to achieve a weighted average fixed interest rate of 3.32% on $100 million of the outstanding balance on its Revolving Credit Facility[14] - Long-term debt as of September 30, 2025, increased to $358,155,000 from $301,466,000 as of December 31, 2024, reflecting a rise of 18.8%[35] - Net Debt to Pro Forma Adjusted EBITDA ratio was 7.7x as of September 30, 2025[42] Dividends - The Company declared dividends of $0.285 per share for the three months ended September 30, 2025, with a Funds From Operations (FFO) payout ratio of 62.0%[16] - The company declared dividends of $0.285 per share for the three months ended September 30, 2025, compared to $0.280 per share in 2024, an increase of 1.8%[37] Dispositions - The Company reported total dispositions of $34.3 million, remaining unchanged from previous guidance of $50 to $70 million[19] - The company sold its only property leased to Kohl's for $12.0 million and entered into a contract to sell a Walgreens location for $5.5 million[9] Conference Call - The Company plans to host a conference call on October 24, 2025, to discuss its operating results for the three and nine months ended September 30, 2025[20] Shareholder Information - The weighted average number of common shares outstanding for the three months ended September 30, 2025, was 14,158,190, compared to 13,744,232 in 2024, indicating an increase of 3.0%[37] - The Company holds a 92.0% interest in Alpine Income Property OP, LP, with a total of 15,382,044 common stock and OP Units outstanding as of September 30, 2025[15] Total Assets - Total assets as of September 30, 2025, were $621,424,000, an increase from $604,995,000 as of December 31, 2024, representing a growth of 2.1%[35]

Core Insights - Alpine Income Property Trust, Inc. has raised its full-year 2025 outlook, increasing its investment guidance to a range of $200 million to $230 million [1][19]. Financial Performance - For the third quarter ended September 30, 2025, total revenues increased to $14.563 million from $13.480 million in the same period of 2024, representing a year-over-year growth of 8% [3]. - The net income attributable to Alpine Income Property Trust was a loss of $1.310 million for the third quarter of 2025, compared to a profit of $3.080 million in the third quarter of 2024 [3]. - Funds from Operations (FFO) for the third quarter were $7.135 million, up from $6.690 million in the prior year, while Adjusted Funds from Operations (AFFO) also increased to $7.128 million from $6.649 million [3][45]. Investment Activity - The company made total investments of $49.720 million in the third quarter of 2025, with 5 investments completed, and year-to-date investments reached $136 million at a weighted-average initial cash yield of 8.9% [4][2]. - The company disposed of 3 properties for a total of $6.152 million in the third quarter, with total dispositions for the nine months ended September 30, 2025, amounting to $34.338 million [5][4]. Property Portfolio - As of September 30, 2025, the company owned 128 properties with a total of 4.1 million square feet and an annualized base rent (ABR) of $46.3 million, achieving an occupancy rate of 99.4% [7]. - 48% of the ABR is derived from investment-grade rated tenants, with Lowe's and Dick's Sporting Goods being the top two tenants [2][9]. Debt and Liquidity - The company's net debt to total enterprise value stands at 62.1%, with a fixed charge coverage ratio of 3.1x [13]. - As of September 30, 2025, total liquidity was $61.355 million, including $60.172 million available under the revolving credit facility [13]. Dividends - The company declared dividends of $0.285 per share for the third quarter of 2025, with a payout ratio of 62.0% for both FFO and AFFO [18]. 2025 Outlook - The revised guidance for 2025 FFO and AFFO per share is now set between $1.82 and $1.85, up from the previous range of $1.74 to $1.77 [19][20].

Core Viewpoint - Alpine Income Property Trust, Inc. has announced the origination of a first mortgage loan investment secured by a luxury residential development in the Austin, Texas area, with a total commitment of up to $61.3 million across two phases [1][2][3]. Loan Details - The Company funded $14.1 million for phase one of the loan, with a total commitment of up to $29.5 million for this phase, and anticipates funding the remainder before the end of 2025 [1]. - The phase two loan has a total commitment of up to $31.8 million, with funding contingent on the borrower's satisfaction of certain conditions, expected to be met in early 2026 [1][2]. - The interest rate for both phases starts at 17.0%, stepping down to 16.0% during months 7 to 12, and to 14.0% thereafter [2]. Strategic Insights - The loan reflects the Company's proactive approach to capital redeployment in anticipation of proceeds from late 2025 and 2026 investment maturities, aimed at ensuring continuity in earnings [3]. - There is strong interest from potential institutional partners in purchasing a senior tranche of this investment, indicating the appeal of this opportunity [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 through a portfolio of single tenant net leased commercial income properties [4].

Core Insights - Alpine Income Property Trust, Inc. has acquired a three-property portfolio for $2.8 million, with a weighted average going-in cash yield of 8.5% [1][2] Property Details - The acquired portfolio consists of properties located in Illinois, Virginia, and Louisiana, totaling 8,890 square feet [2] - Two properties are net leased to Hardee's, a national quick-service restaurant chain, while the third is net leased to Jiffy Lube, a leading automotive services franchise [2] 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 [3] - The company invests in, owns, and operates a diversified 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, Inc. (NYSE:PINE) is recognized for its significant dividend growth and is listed among the 20 Best Stocks to Buy and Hold for a Lifetime [1] Group 1: Recent Transactions - The company sold its former Century Theater Center in Reno, Nevada, for $5.0 million, with $4.0 million in seller financing at an 8% interest rate over two years, improving portfolio occupancy to 99.4% and lowering carrying costs [2] - A $24 million first mortgage loan was created with an 11% interest rate to finance the conversion of a 127,380-square-foot building in East Bay, San Francisco, into industrial space targeting technology, life sciences, manufacturing, and logistics tenants [3] Group 2: Investment Performance - Alpine Income Property Trust has made $109.9 million in structured investments and acquisitions in the current year, yielding an initial cash yield of 9.5% on average [3] - The company's single-tenant net-leased commercial properties are primarily leased to publicly traded and credit-rated tenants, reinforcing its position as a strong investment option [4]

Core Viewpoint - Alpine Income Property Trust, Inc. reported its investment and disposition activities for Q3 and year-to-date 2025, highlighting significant acquisition and sales transactions that reflect a strong performance in the real estate investment sector [1][2]. Investment and Disposition Activity - In year-to-date 2025, the Company completed $135.6 million in acquisition and structured investment transactions with a weighted average initial cash yield of 8.9% [2]. - The year-to-date disposition activity totaled $29.0 million from income-producing asset sales, achieving a weighted average exit cash cap rate of 8.4% [2]. - Additionally, the Company sold $5.3 million in vacant properties during the same period [2]. Portfolio Metrics - As of September 30, 2025, the Company reported a weighted average remaining lease term of 8.7 years and an occupancy rate of 99.4% [3]. - 48% of the annualized base rent is attributable to investment-grade tenants, indicating a strong tenant quality [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 through a diversified portfolio of single-tenant net leased commercial properties [4]. Recent Transactions - On September 30, 2025, the Company acquired two properties ground leased to Lowe's for $21.1 million, with a weighted average going-in cash cap rate of 6.0% and a remaining lease term of approximately 11.6 years [7]. - Lowe's has become the Company's largest tenant by annualized base rent, surpassing Dick's Sporting Goods [7]. - The Company sold three net lease properties for $6.2 million, including one leased to Advance Auto Parts and a vacant parcel [7]. - Two structured investments were originated for a total of $28.0 million with a weighted average initial cash yield of 10.6% [7]. - The Company increased its commitment to a Wawa Land Development Construction Loan by $0.6 million, totaling $7.4 million [7]. - Principal paydowns of approximately $8.1 million were received on the mortgage note portfolio, reducing the remaining loan balance to $3.9 million with a current yield of 9.0% [7].

Core Points - Alpine Income Property Trust, Inc. will report its financial and operating results for Q3 2025 on October 23, 2025, after market close [1] - A conference call to discuss these results is scheduled for October 24, 2025, at 9:00 AM ET [1] - A live webcast of the call will be available on the Company's Investor Relations page [2] - Participants are encouraged to register and dial in at least fifteen minutes before the call [3] - A replay of the earnings call will be archived and accessible online [3] 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 [4] - 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 [4]