Alpine Income Property Trust
Collects rent from U.S. net-lease properties and interest from real-estate-secured loans.
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Profile
Owns U.S. single-tenant net-lease properties and real-estate-secured commercial loans. Rent from retail and service tenants is the core cash flow, while loan interest adds a second line; operations depend on tenant credit, rent collection, debt-market access, and CTO Realty Growth's external management platform.
Owns and operates U.S. commercial net-lease properties, mostly leased to single tenants in retail and service categories. Income Properties generates rent under leases that generally pass property operating costs to tenants, while Commercial Loans and Investments earns interest from real-estate-secured loans and related structures.
The portfolio is concentrated in the United States and spread across many markets, with credit-rated tenants anchoring a meaningful share of rent. Execution centers on sourcing properties and loans, maintaining occupancy, and using CTO Realty Growth's platform instead of an internal employee base.
The business depends on tenant credit and rent collection, loan performance, acquisition yields, debt and equity market access, REIT rules, and the external manager's allocation of personnel and related-party decisions.
Company facts
Categories
Key statistics
Year to date +16.3% · Average volume (30d) 133.0K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Jul 28, 2026 | Raymond James | Downgrade | Underperform | Outperform | $22 | |
| Jul 24, 2026 | Stifel Nicolaus | Target | $21.50 | $22 | ||
| Jul 24, 2026 | Industrial Alliance Securities | Target | $22 | $22.50 | ||
| Jun 30, 2026 | Baird | Downgrade | Outperform | Neutral | ||
| Jun 29, 2026 | Robert W. Baird | Target | $19 | $21 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 23, 2026Q2 FY26 | $0.14 | $0.16 | +15.7% | $18.9M | $20.0M | +6.1% | −0.19% |
| Apr 23, 2026Q1 FY26 | $0.11 | $0.06 | −42.9% | $17.4M | $18.4M | +5.8% | +0.86% |
| Feb 5, 2026Q4 FY25 | $0.07 | $0.06 | −7.7% | $15.6M | $16.9M | +8.2% | +6.28% |
| Oct 23, 2025Q3 FY25 | $0.43 | −$0.09 | −120.9% | $15.3M | $14.6M | −4.7% | −0.93% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $14.2M | $14.9M | $14.6M | $16.9M | $18.4M | $20.0M | |
| Gross profit | $12.2M | $12.8M | $11.6M | $13.8M | $402.0K | $17.9M | |
| Operating income | $2.3M | $2.5M | $2.4M | $6.6M | $7.0M | $8.7M | |
| Net income | −$1.2M | −$1.6M | −$1.3M | $1.5M | $2.2M | $3.0M | |
| Diluted EPS | −$0.07 | −$0.11 | −$0.09 | $0.06 | $0.06 | $0.16 | |
| Gross margin | 85.7% | 85.8% | 79.6% | 81.8% | 2.2% | 89.6% | |
| Operating margin | 16.0% | 16.8% | 16.6% | 39.0% | 38.2% | 43.5% |
Fiscal years (4-quarter sums)FY21 $30.1M · FY22 $45.2M · FY23 $45.6M · FY24 $52.2M · FY25 $60.5M
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $2.8M · Total debt $372.3M · Total assets $781.5M · Shareholders' equity $337.3M
Dividends
Raised for 5 straight years — most recently to $0.30 from $0.285 in Mar 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 11, 2026 | Jun 11 | Jun 30 | $0.30 | |
| Mar 12, 2026 | Mar 12 | Mar 31 | $0.30 | raised from $0.285 |
| Dec 11, 2025 | Dec 11 | Dec 31 | $0.285 | |
| Sep 11, 2025 | Sep 11 | Sep 30 | $0.285 | |
| Jun 12, 2025 | Jun 12 | Jun 30 | $0.285 | |
| Mar 13, 2025 | Mar 13 | Mar 31 | $0.285 | raised from $0.28 |
| Dec 12, 2024 | Dec 12 | Dec 31 | $0.28 | |
| Sep 12, 2024 | Sep 12 | Sep 30 | $0.28 | raised from $0.275 |
Ownership
Shares outstanding 16.52M · Float 16.19M · 98.0% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 1.35M | 8.18% | 13F | Aug 7, 2026 |
| CTO Realty Growth, Inc. · 10 percent owner | 1.25M | 7.55% | Form 4 | Aug 5, 2025 |
| Sound Income Strategies, LLC | 1.24M | 7.48% | 13F | Jul 20, 2026 |
| Vanguard Capital Management LLC | 672.6K | 4.07% | 13F | Aug 13, 2026 |
| Two Sigma Investments, LP | 656.8K | 3.97% | 13F | Aug 14, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jul 28, 2026 | Andrew C. Richardson | director | −2,000 | $20.28 |
| Jun 25, 2026 | Andrew C. Richardson | director | −2,832 | $19.96 |
| May 26, 2026 | Andrew C. Richardson | director | −1,500 | $19.39 |
| May 22, 2026 | Andrew C. Richardson | director | −500 | $18.87 |
| May 8, 2026 | Andrew C. Richardson | director | −3,000 | $19.35 |
Peers
- Realty Income
Largest diversified net-lease acquirer and landlord
- NNN REIT
U.S. single-tenant retail net-lease specialist
- Agree Realty
Retail-focused net-lease acquirer and developer
- Essential Properties Realty Trust
Single-tenant net-lease REIT focused on service businesses
- Four Corners Property Trust
Restaurant and retail net-lease property owner
- NETSTREIT
High-credit single-tenant retail net-lease REIT
- FrontView REIT
Smaller net-lease REIT focused on visible frontage sites
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Alpine Income Property Trust | $19.53 | 0.00% | $322.7M | 101.0 | 29.9 | 4.6 | +34.6% |
| Realty Income | $62.13 | +0.22% | $57.80B | 45.2 | 38.4 | 9.7 | +1.1% |
| NNN REIT | $45.67 | −0.01% | $8.69B | 22.4 | 21.9 | 9.1 | +7.0% |
| Agree Realty | $73.20 | −0.05% | $8.79B | 39.4 | 37.7 | 11.3 | +16.9% |
| Essential Properties Realty Trust | $30.37 | −0.03% | $6.57B | 23.5 | 23.0 | 9.9 | +10.3% |
| Four Corners Property Trust | $25.23 | 0.00% | $2.77B | 22.7 | 22.5 | 9.0 | +7.7% |
| NETSTREIT | $20.47 | 0.00% | $1.99B | 146.4 | 57.9 | 9.2 | +19.8% |
| FrontView REIT | $19.45 | −0.09% | $440.6M | 286.9 | — | 6.3 | +2.6% |
| Median | 39.4 | 30.4 | 9.2 | +7.7% |