Alpine Income Property Trust (PINE) Q3 2026 earnings summary

Executive summary

• Q3 revenue was $20.460M; net income attributable to common stockholders was $3.443M versus a $1.310M loss YoY.

• AFFO per diluted share rose 19.6% YoY; closed and under-contract investments exceeded $300M YTD, and 2026 AFFO guidance was raised.

• A $117.3M, 13-property industrial portfolio acquisition was pending, alongside new financing commitments announced after quarter-end.

Financial highlights

• Q3 revenue was $20.460M versus $14.563M YoY; nine-month revenue was $58.868M versus $43.632M.

• Q3 diluted FFO and AFFO were each $0.55 per share, up from $0.46; nine-month FFO was $1.65 and AFFO $1.66 per share, versus $1.34 each.

• Q3 diluted EPS was $0.18 versus a $0.09 loss; nine-month diluted EPS was $0.42 versus a $0.29 loss.

• Q3 income properties generated $12.812M lease revenue and commercial loans and investments generated $7.611M interest income.

Outlook and guidance

• 2026 diluted EPS guidance rose to $0.90–$0.93, FFO to $2.19–$2.21 and AFFO to $2.20–$2.22 per share; AFFO midpoint growth is 16.9% versus 2025.

• Investment volume guidance increased to $310M–$350M from $170M–$200M; disposition guidance remains $20M–$40M.

• Guidance incorporates $17.9M of early loan repayments and a $7.4M loan maturing in Q4 at a 10.25% yield.

• Management expects investment volume to be lower next year than this year's level, while remaining open to suitable opportunities and partner or external capital.