---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-23-006329"
form_type: "8-K"
ticker: "PINE"
cik: "0001786117"
company_name: "Alpine Income Property Trust, Inc."
filed_at: "2023-04-20T23:59:59+00:00"
generated_at: "2026-06-16T22:40:15.190817+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Alpine Income Trust Q1 FFO down 26.5% to $0.36; net income up on property sales

## Summary
- Net income attributable to PINE of $3.3M ($0.21/diluted share), up 314% YoY due to $4.5M gains on property sales.
- FFO per diluted share $0.36 (down 26.5% YoY); AFFO per share $0.36 (down 25% YoY).
- Total revenues $11.2M, up 3.4% YoY.
- Sold 10 net lease properties for $56.2M at 6.1% exit cap rate; investment-grade tenant exposure rose to 58%.
- Dividend declared $0.275/share, up 1.9% YoY; no floating-rate debt and no maturities until 2026.

## SEC filing metadata
- accession: 0001558370-23-006329
- form_type: 8-K
- ticker: PINE
- cik: 0001786117
- company_name: Alpine Income Property Trust, Inc.
- filed_at: 2023-04-20T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1786117/000155837023006329/0001558370-23-006329-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1786117/000155837023006329/pine-20230420x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-23-006329
- JSON: https://secwatch.observer/filing/0001558370-23-006329.json
- Plain text: https://secwatch.observer/filing/0001558370-23-006329.txt

## Key facts
- Earnings Releases
  Alpine Income Property Trust, Inc. reported the quarter ended March 31, 2023 results: revenue $ 11,166, net income $ 3,745, EPS $ 0.21.
  - Period: the quarter ended March 31, 2023
  - Revenue: $ 11,166
  - Net income: $ 3,745
  - EPS: $ 0.21
  - Result: reported results
  source text: (in thousands, except per share data): ​ ​ ​ Three Months Ended March 31, 2023 Three Months Ended March 31, 2022 Variance to Comparable Period in the Prior Year Total Revenues $ 11,166 $ 10,799 $ 367 3.4% ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net Income $ 3,745 $ 924 $ 2,821 305.3% Net Income Attributable to PINE $ 3,339 $ 806 $ 2,533 314.3% Net Income per Diluted Share
  evidence_url: https://www.sec.gov/Archives/edgar/data/1786117/000155837023006329/0001558370-23-006329-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.