Revenue and Income - For the three months ended June 30, 2025, total revenues increased by 19.0% to $14.9 million compared to $12.5 million for the same period in 2024[186]. - Total revenues increased by 16.5% to $29.1 million for the six months ended June 30, 2025, up from $25.0 million in 2024, driven by a 4.6% increase in lease income and a 166.7% increase in interest income from commercial loans and investments[198]. - Interest income from commercial loans and investments surged by 177.6% to $2.7 million, reflecting an expanded portfolio[188]. - Interest income from commercial loans and investments rose to $5.0 million in the first half of 2025, a $3.1 million increase from $1.9 million in 2024, attributed to an expanded portfolio[200]. - Net income (loss) attributable to Alpine Income Property Trust, Inc. was $(1.6) million for the three months ended June 30, 2025, a decrease of 904.4% compared to $0.2 million in 2024[186]. - Net loss totaled $3.1 million for the six months ended June 30, 2025, compared to a net loss of $0.1 million for the same period in 2024, representing a $3.0 million increase in net loss[209]. - Net income for the three months ended June 30, 2025, was $(1,782) thousand, compared to $222 thousand for the same period in 2024[225]. Expenses and Provisions - Total operating expenses increased by 27.8% to $13.3 million, primarily due to higher real estate expenses and provisions for impairment[186]. - Operating expenses rose by 30.1% to $26.4 million for the six months ended June 30, 2025, compared to $20.3 million in 2024, primarily due to increased real estate expenses and general administrative costs[198]. - The company recorded a provision for impairment of $2.8 million during the three months ended June 30, 2025, compared to $0.6 million in the same period of 2024[191]. - Provision for impairment increased significantly by 602.6% to $4.8 million in the first half of 2025, compared to $0.7 million in 2024, reflecting losses related to certain income properties[203]. - Interest expense increased by 52.6% to $4.3 million, attributed to a higher average outstanding balance on the company's Credit Facility[196]. Property and Portfolio - The company owned 129 properties with a total gross leasable area of 3.9 million square feet as of June 30, 2025, achieving a portfolio occupancy rate of 98%[183]. - The company sold five properties for a total sales price of $16.5 million during the three months ended June 30, 2025, generating gains of $0.9 million[193]. - The company sold eight properties for a total sales price of $28.2 million during the six months ended June 30, 2025, generating gains of $2.1 million, compared to two properties sold for $6.6 million and gains of $0.9 million in 2024[206]. - The company acquired three properties for a combined purchase price of $39.7 million during the six months ended June 30, 2025[213]. - The company acquired three properties for a total purchase price of $39.7 million during the six months ended June 30, 2025[230]. Cash and Liquidity - Cash totaled $12.1 million as of June 30, 2025, including $7.1 million in restricted cash[211]. - As of June 30, 2025, the company had an outstanding balance of $153.0 million under its $250.0 million Credit Facility, with $48.0 million of available capacity[212]. - The company believes it will have sufficient liquidity to fund operations and capital requirements over the next twelve months, supported by cash on hand and available credit[216]. Funds from Operations - Funds from operations (FFO) increased to $6,788 thousand for the three months ended June 30, 2025, up from $6,313 thousand in 2024, representing a growth of 7.5%[227]. - Adjusted funds from operations (AFFO) for the three months ended June 30, 2025, were $6,742 thousand, compared to $6,399 thousand in 2024, indicating a year-over-year increase of 5.4%[227]. - FFO per diluted share rose to $0.44 for the three months ended June 30, 2025, compared to $0.43 in the prior year[227]. Depreciation and Amortization - Depreciation and amortization expenses for the three months ended June 30, 2025, were $6,705 thousand, compared to $6,352 thousand in 2024, reflecting an increase of 5.5%[225]. - The company reported a total of $14,012 thousand in depreciation and amortization for the six months ended June 30, 2025, compared to $12,734 thousand in 2024[225]. Share Information - The weighted average number of diluted shares increased to 15,426,650 for the three months ended June 30, 2025, from 14,848,786 in 2024[225]. Off-Balance Sheet Arrangements - The company did not have any off-balance sheet arrangements reported[228].

Financial Performance - Total revenues for Q2 2025 were $14.863 million, a 19% increase from $12.490 million in Q2 2024[4] - Net income attributable to PINE for Q2 2025 was a loss of $1.641 million, compared to a profit of $0.204 million in Q2 2024[4] - Funds from operations (FFO) for Q2 2025 were $6.788 million, up from $6.313 million in Q2 2024, with FFO per diluted share at $0.44[4] - Lease income rose to $12,022,000 for the three months ended June 30, 2025, compared to $11,330,000 in 2024, reflecting a growth of 6%[37] - Interest income from commercial loans and investments surged to $2,737,000, a significant increase from $986,000 in the prior year, marking a growth of 177%[37] - Total operating expenses for the three months ended June 30, 2025, were $13,310,000, up 28% from $10,411,000 in 2024[37] - The net loss attributable to Alpine Income Property Trust, Inc. for the three months ended June 30, 2025, was $(1,641,000), compared to a net income of $204,000 in the same period of 2024[37] - Funds from operations (FFO) for the three months ended June 30, 2025, were $6,788,000, an increase from $6,313,000 in 2024, representing an 8% growth[40] - Adjusted funds from operations (AFFO) for the three months ended June 30, 2025, reached $6,742,000, compared to $6,399,000 in the prior year, indicating a 5% increase[40] Investment Activities - The company invested $85.9 million in the first half of 2025 at a weighted average initial cash yield of 9.1%[3] - The company sold $28.2 million of assets in the first half of 2025 at a weighted average cash yield of 8.4%[3] - The investment outlook for 2025 is estimated to be between $100 million and $130 million, while dispositions are expected to range from $50 million to $70 million[17] Debt and Equity - The net debt to total enterprise value ratio was 60.3% as of June 30, 2025[11] - Long-term debt as of June 30, 2025, is reported at $352.570 million, up from $301.466 million at the end of 2024[35] - Cash and cash equivalents increased to $5.000 million as of June 30, 2025, compared to $1.578 million at the end of 2024[35] - The Company has 15.5 million weighted average diluted shares outstanding for the 2025 outlook[17] - The weighted average number of diluted shares increased to 15,426,650 for the three months ended June 30, 2025, from 14,848,786 in the same period of 2024[37] - The company repurchased 546,390 shares of common stock at a weighted average price of $16.07 during the first half of 2025[13] Dividends - The Company declared dividends of $0.285 per share for Q2 2025, with a payout ratio of 64.8%[16] - Dividends declared and paid increased to $0.285 per share for the three months ended June 30, 2025, compared to $0.275 in 2024[37] Property Portfolio - The property portfolio consisted of 129 properties with an annualized base rent of $45.3 million and an occupancy rate of 98.2%[8] - The weighted average remaining lease term increased to 8.9 years from 6.6 years a year ago[3] Future Outlook - The Company has reaffirmed its 2025 outlook for Funds From Operations (FFO) and Adjusted Funds From Operations (AFFO) per diluted share, projected to be between $1.74 and $1.77[17] - The estimated net loss per diluted share for 2025 is projected to be between $(0.25) and $(0.22)[18] Conference Call - The Company will host a conference call on July 25, 2025, to present its operating results for the second quarter of 2025[19] Non-GAAP Measures - The Company emphasizes the importance of non-GAAP financial measures like FFO and AFFO for assessing operating performance[25] Business Model - The Company operates a portfolio of single-tenant net leased commercial properties predominantly leased to high-quality tenants[22]

Core Viewpoint - Alpine Income Property Trust, Inc. reported its operating results for the second quarter and first half of 2025, highlighting a strategic focus on capital recycling and stock repurchases, which have strengthened its portfolio and tenant structure [2][3]. Financial Performance - Total revenues for Q2 2025 were $14.863 million, up from $12.490 million in Q2 2024, representing a 19% increase [3]. - Net income attributable to PINE for Q2 2025 was a loss of $1.641 million, compared to a profit of $0.204 million in Q2 2024 [3]. - Funds from Operations (FFO) for Q2 2025 were $6.788 million, slightly up from $6.313 million in Q2 2024 [3]. - Adjusted Funds from Operations (AFFO) for Q2 2025 were $6.742 million, compared to $6.399 million in Q2 2024 [3]. Investment Activity - The company invested $85.9 million in the first half of 2025 at a weighted average initial cash yield of 9.1% and sold assets worth $28.2 million at a weighted average cash yield of 8.4% [2][4]. - The weighted average remaining lease term increased to 8.9 years from 6.6 years a year ago [2]. Property Portfolio - As of June 30, 2025, the company owned 129 properties with a total of 3.9 million square feet and an annualized base rent (ABR) of $45.3 million [7]. - The occupancy rate of the portfolio was 98.2%, with 51% of ABR attributable to investment-grade rated tenants [7][9]. Balance Sheet and Capital Markets - As of June 30, 2025, the company had a net debt to total enterprise value ratio of 60.3% and a net debt to pro forma adjusted EBITDA ratio of 8.1x [11]. - Total liquidity was reported at $57.259 million, including $9.302 million in cash and cash equivalents [11][12]. Dividends - The company declared dividends of $0.285 per share for Q2 2025, maintaining a payout ratio of 64.8% for both FFO and AFFO [17]. 2025 Outlook - The company reaffirmed its outlook for 2025, projecting investments between $100 million and $130 million and dispositions between $50 million and $70 million [18]. - Expected FFO and AFFO per diluted share are projected to be between $1.74 and $1.77 [18].

Core Viewpoint - Alpine Income Property Trust, Inc. reported its second quarter and year-to-date 2025 portfolio and transaction activities, highlighting significant investment and disposition activities along with a balance sheet update [1]. Portfolio and Transaction Activity - The total investment activity year-to-date in 2025 amounts to $85.9 million in acquisition and structured investment transactions, with a weighted average initial investment yield of 9.1% [2]. - Year-to-date total disposition activity includes $28.2 million in asset sales, achieving a weighted average exit cash cap rate of 8.4% [2]. - The weighted average lease term as of June 30, 2025, is 8.9 years [2]. Second Quarter 2025 Details - The company sold five net lease properties, including two leased to Walgreens, for a total disposition volume of $16.5 million at a weighted average exit cap rate of 7.9% [7]. - A seller financing structured investment was originated in conjunction with the disposition of a property leased to Old Time Pottery, along with a new first mortgage loan totaling $6.6 million in principal, fully funded at closing with a weighted average initial yield of 9.8% [7]. - Bass Pro Shops completed its renovation on schedule, with a grand opening on May 21, 2025, for a 66,033-square foot property in Hermantown, MN, re-leased under a 20-year initial lease term [7]. - A $25.5 million construction loan for Publix land development in Charlotte, NC, was fully repaid, with a current yield of 9.5% [7]. - During the quarter ended June 30, 2025, the company repurchased 272,565 shares of common stock at a weighted average gross price of $15.81 per share, totaling $4.3 million [7]. - Year-to-date 2025, the company repurchased 546,390 shares at a weighted average gross price of $16.07, costing $8.8 million [7]. - As of June 30, 2025, approximately $1.2 million remains on the current common stock buyback program [7]. - The company has no debt maturities until May 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 by investing in, owning, and operating a portfolio of single-tenant net leased commercial income properties, primarily leased to high-quality publicly traded and credit-rated tenants [4].

Core Insights - Investors are considering Alpine Income (PINE) and EastGroup Properties (EGP) for potential value opportunities in the REIT and Equity Trust - Other sector [1] Valuation Metrics - Alpine Income has a Zacks Rank of 2 (Buy), indicating a positive earnings outlook, while EastGroup Properties has a Zacks Rank of 3 (Hold) [3] - PINE has a forward P/E ratio of 8.47, significantly lower than EGP's forward P/E of 18.81 [5] - The PEG ratio for PINE is 1.41, while EGP's PEG ratio is 3.70, suggesting PINE is more favorably valued in terms of expected EPS growth [5] - PINE's P/B ratio is 0.8, compared to EGP's P/B of 2.63, indicating PINE is undervalued relative to its book value [6] - Based on these metrics, PINE has a Value grade of B, while EGP has a Value grade of F, highlighting PINE's superior valuation [6] Conclusion - PINE is positioned as the better value option due to its solid earnings outlook and favorable valuation metrics compared to EGP [7]

Core Viewpoint - Alpine Income Property Trust, Inc. will report its financial and operating results for Q2 2025 on July 24, 2025, with a conference call scheduled for July 25, 2025 [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 properties, primarily leased to high-quality publicly traded and credit-rated tenants [3]. Event Details - A live webcast of the conference call will be available on the Company's Investor Relations page, and participants are encouraged to register and dial in at least fifteen minutes before 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].

Core Thesis - Alpine Income Property Trust (PINE) presents a compelling value proposition with an AFFO yield of nearly 12%, which comfortably supports its 7.6% dividend, but faces various challenges that may affect its quality compared to peers [1][2] Value Proposition - The company's value is driven by a low cost-basis and a stock price that results in an enterprise value of $150 per square foot, significantly below the replacement cost of over $200 per foot [3] - Each $100 invested in PINE generates $11.94 of AFFO, with comparable properties trading at cap rates of 6.5%-9%, indicating that PINE offers superior cash flow compared to direct real estate investments [4] Cash Flow Stability - Cash flows are secured with a weighted average lease term of 9 years, and 50% of tenants hold investment-grade ratings, which is favorable compared to triple net peers [7][9] Market Position - PINE's AFFO multiple of 8.7X is low relative to the broader market and even within the REIT sector, where the average AFFO multiple is 13.1X, indicating that while PINE is cheap, the valuation gap with peers is not substantial [11][12] Quality Concerns - PINE is considered lower quality due to its exposure to cyclical retailers, with a significant number of at-risk tenants, including pharmacies and dollar stores, which have faced recent struggles [13][15] - The company has a longer list of watchlist tenants, and recent bankruptcies among tenants like At Home raise concerns about future cash flows [19][20] Loan Portfolio - PINE has a loan portfolio totaling $69.6 million, which is substantial relative to its $212 million market cap, and the expiration of these loans could negatively impact AFFO [22][23] Future Growth Outlook - Despite an attractive AFFO multiple, PINE's growth is expected to be weaker than peers over the next four years due to elevated tenant churn and the roll-off of lucrative loans [27] - The company may become a more attractive investment if it successfully replaces troubled tenants with more stable ones or if it can reinvest expiring loans into equally high-return investments [29]

Core Insights - Albert Anthony is a Croatian-American media personality and analyst for financial media platforms, focusing on general market commentary and dividend stocks [1] - He has gained over 1,000 followers since 2023 and has covered more than 200 companies across various sectors [1] - Anthony has a background in the IT sector and has worked for a top 10 financial firm in the US [1] - He plans to launch a new book in 2025 discussing his stock rating methodology [1] Company Overview - Albert Anthony & Co. is a sole proprietorship registered in Austin, Texas [1] - The company does not provide personalized financial advisory services and focuses on general market commentary based on publicly available data [1] - The brand is wholly owned by Albert Anthony, who does not hold material positions in any rated stocks unless disclosed [1]

Core Points - Alpine Income Property Trust, Inc. has declared a quarterly cash dividend of $0.285 per share for Q2 2025, representing an annualized yield of approximately 7.7% based on the stock's closing price on May 23, 2025 [1][2] - The dividend is payable on June 30, 2025, to stockholders of record as of June 12, 2025, with the ex-dividend date also on June 12, 2025 [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 by investing in single tenant net leased commercial properties, primarily leased to high-quality publicly traded and credit-rated tenants [3]

Group 1: Alpine Income - Alpine Income is a relatively new REIT founded in 2019, with a market cap of $216.6 million, making it a smaller alternative to larger REITs like Realty Income, which has a market cap of $51 billion [4] - The company focuses on single-tenant net-lease properties, resulting in lower overhead costs as tenants are responsible for expenses like taxes, insurance, and maintenance [4][5] - Alpine Income's portfolio consists of 134 properties that are 99% occupied and diversified across 35 U.S. states, with top tenants including well-known brands like Dicks Sporting Goods and Lowe's [5] - The company offers a high dividend yield of 7.6%, significantly above the S&P 500 index average of 1.27%, making it attractive for income-focused investors [6] Group 2: Dollar General - Dollar General's shares have increased by 22% year to date, recovering from previous weaknesses due to high inflation affecting its low-cost business model [7] - The company is better positioned to handle potential threats from new tariff policies, with only 10% of its inventory exposed to global tariffs, compared to 50% for Dollar Tree and nearly 100% for other retailers [8] - Dollar General's focus on low prices and rural areas creates an economic moat, attracting customers away from larger competitors like Walmart and Target [9] - The company has an attractive valuation with a forward price-to-earnings (P/E) multiple of 17, significantly lower than Walmart's 37 times expected earnings, and offers a dividend yield of 2.6% [10]