Alpine Income Property Trust, Inc. (PINE) Form 10-Q — Oct 22, 2026
Alpine Income Property Trust swung to Q3 2026 net income of $5.0 million ($0.18 diluted EPS) versus a $1.4 million net loss in the year-ago quarter, with total revenues up 40.5% YoY to $20.5 million on strong commercial loan interest income growth of 228%. The REIT's balance sheet expanded to $821 million in total assets, with a $231.4 million commercial loan book and 130 net-leased properties at 99.6% occupancy. Growth was funded largely via $60.8 million of ATM common stock sales during the nine months, plus $10.2 million of preferred ATM issuance.
Key figures
- Eps
- 0.18 diluted (Q3 2026)
- Revenue
- 20460000
- Net Income
- 5012000
- Total Debt
- 396676000
- Revenue Yoy
- 40.5% (Q3 YoY); $58.9M nine-month total vs $43.6M prior year
- Total Assets
- 821106000
- Cash Position
- 11722000
- Shares Outstanding
- 17940667
- Occupancy
- 99.6%
- Property count
- 130
- Atm shares sold 9m
- 3136532
- Q3 2026 net income
- 5012000
- Q3 interest expense
- 4828000
- Subsequent term loan
- $100 million four-year term loan; revolver increased to $325 million
- Atm gross proceeds 9m
- 60800000
- Dividend per share q3
- 0.32
- Nine month net income
- 11861000
- Subsequent acquisition
- $117.3 million, 13-property industrial portfolio
- Commercial loan carrying value
- 231421000
- Preferred dividend per share q3
- 0.5
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