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EarningsQ2 2026 Earnings Report
PINE Q2 2026 EPS Results
Actual EPS$0.16
Consensus EPS$0.14
Beat/MissBeat by +$0.02
One Year Ago EPS-$0.12
PINE Q2 2026 Revenue Results
Actual Revenue$20.00M
Expected Revenue$18.85M
Beat/MissBeat by +$1.15M
YoY Revenue Growth+34.58%
Earnings Announcement Details
QuarterQ2 2026
Date07/23/2026
TimeAfter Close
Conference CallThursday, July 23, 2026
PINE Upcoming Earnings
Alpine Income Property Trust Inc's next earnings date is estimated for October 22, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
PINE Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
Overall the call conveyed a positive operational and strategic picture: strong quarter of investment activity, high yields on loans, increased investment‑grade tenant mix, robust occupancy and WALT, a dividend raise, and raised guidance on the low end. Key risks and negatives include higher interest costs from swap re‑pricing, a reduced disposition outlook, equity issuance dilution, timing risk on unfunded loan commitments, and a notable discrepancy in reported AFFO growth that clouded clarity. On balance, the positive operational momentum and improved portfolio credit profile outweigh the near‑term headwinds.Company Guidance
Strong Earnings and Revenue
Q2 total revenue $20.0M (lease income $12.6M; loan interest $7.3M). Reported FFO $0.57 and AFFO $0.58 per diluted share for the quarter; year-to-date FFO $1.10 and AFFO $1.11. Management highlighted meaningful year-over-year earnings growth driven by investment activity.
Material Investment Activity and Attractive Yields
Approximately $77M of total investment activity in the quarter at a blended initial yield of 8.7%. Property acquisitions of $36.6M (3 properties) at a weighted average initial cap rate of 7.4% and weighted average remaining lease term (WALT) of 9.2 years.
Growing, High‑Yield Commercial Loan Portfolio
Originated a $40M first‑mortgage loan (Publix‑anchored) with $6.2M funded in the quarter at a 10% initial yield. Quarter‑end commercial loan portfolio: 13 loans, $167M face amount, weighted average coupon (including PIK) 13.2%, targeted at ~20% of undepreciated asset value to complement property yields.
Higher Investment‑Grade Tenant Exposure and Portfolio Quality
Annualized base rent (ABR) rose to $50M. Share of ABR from investment‑grade tenants increased from 50% to 55% (driven by acquisitions: Aldi, HomeGoods, Petco, Lowe's, Alamo Drafthouse). Portfolio: 128 properties, 4.5M sq ft across 31 states, 99.5% occupancy, WALT 9.2 years.
Dividend Increase
Board authorized a 6.7% increase in the quarterly common dividend to $0.32 per share beginning Q3 2026. Company stated this represents a ~55% AFFO payout ratio on Q2 AFFO.
Raised Full‑Year Guidance (Low End)
Management raised the low end of full‑year outlook: new FFO range $2.10–$2.13 and AFFO range $2.12–$2.15 per diluted share. Investment volume assumption unchanged at $170M–$200M.
Capital Markets Activity & Liquidity
YTD net proceeds of $61.7M from ATM programs; Q2 issuances included ~1.1M common shares (net $21.7M) and ~156K Series A preferred (net $3.9M). Quarter‑end liquidity (including cash) ~ $83M. Debt outstanding $370M at a weighted average interest rate of 4.38% (including swaps); no debt maturities until 2029.
Leverage Improvement
Net debt to pro forma adjusted EBITDA improved to 6.4x from 6.6x last quarter and 6.7x at the beginning of the year, reflecting financing and capital activity.
PINE Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed