Alpine Income Property Trust, Inc. SEC Filings

A shareholder of PINE has filed a notice to sell 1,000 shares of common stock through Fidelity Brokerage Services LLC on the NYSE, with an indicated aggregate market value of $17,590.00. The filing states that there were 14,164,662 shares of this class of stock outstanding at the time of the notice.

The 1,000 shares were originally acquired on 10/23/2023 as compensation for services rendered to the issuer, with the issuer listed as the source of the shares. The seller represents that they are not aware of any undisclosed material adverse information about the issuer’s current or prospective operations.

Alpine Income Property Trust, Inc. is launching an at-the-market offering of its 8.00% Series A Cumulative Redeemable Preferred Stock, allowing issuance of up to $35,000,000 of preferred shares through multiple sales agents on the New York Stock Exchange.

To support this, the operating partnership amended its agreement to authorize a total of 3,758,334 Series A preferred units, and the company filed Articles Supplementary classifying the same number of preferred shares. Net proceeds from any preferred stock sales will be contributed to the operating partnership in exchange for matching preferred units.

The external manager agreed to a partial management fee waiver, cutting the base fee rate on equity raised from this preferred offering from 1.50% to 0.75% per year, which reduces ongoing fees on the incremental capital while preserving the existing fee structure on the rest of the company’s equity base.

Alpine Income Property Trust, Inc. is offering up to $35,000,000 of its 8.00% Series A Cumulative Redeemable Preferred Stock through an at-the-market program on the NYSE. The preferred shares carry a $25.00 liquidation preference and pay cumulative cash dividends at an annual rate of 8.00%, or $2.00 per share, with the first dividend scheduled as a pro rata payment of $0.2722 per share on December 31, 2025.

The Series A ranks senior to common stock but junior to all debt and any future senior preferred, is generally non‑voting, and is redeemable at the company’s option on or after November 12, 2030 at $25.00 per share plus accrued dividends. A special optional redemption and a change‑of‑control conversion right may apply if control of the company changes, subject to caps and REIT ownership limits.

Net proceeds are intended to be contributed to the operating partnership for general corporate purposes, including property acquisitions, commercial loans and possible repayment of revolving and term debt. In connection with this offering, the external manager will permanently halve its base management fee rate on the incremental equity raised from 1.5% to 0.75% annually.

Alpine Income Property Trust (PINE) announced an underwritten offering of 2,000,000 shares of 8.00% Series A Cumulative Redeemable Preferred Stock at $25.00 per share, with a 30‑day option for underwriters to buy up to 300,000 additional shares. The offering is expected to close on November 12, 2025, subject to customary conditions. The company intends to contribute the net proceeds to its operating partnership in exchange for an equal number of mirror‑term Series A preferred units.

Dividends are cumulative, payable quarterly on or about March 31, June 30, September 30 and December 31, beginning December 31, 2025. The Series A ranks senior to common stock for dividends and liquidation. It is generally not redeemable before November 12, 2030; thereafter, it may be redeemed at $25.00 per share plus accrued dividends, and includes change‑of‑control redemption and conversion features. Management agreed to a partial fee waiver, reducing the base management fee rate to 0.75% per annum on the incremental equity base from the preferred proceeds.

Alpine Income Property Trust (PINE) is offering 2,000,000 shares of 8.00% Series A Cumulative Redeemable Preferred Stock at $25.00 per share. The securities pay cumulative quarterly dividends at 8.00% of the $25.00 liquidation preference (annual $2.00 per share), beginning December 31, 2025, and rank senior to common stock for dividends and liquidation.

The company expects approximately $48.1 million in net proceeds (about $48.425 million before expenses) and has granted underwriters a 30‑day option for up to 300,000 additional shares. Proceeds will be contributed to the operating partnership and may be used for general corporate purposes, including property acquisitions, commercial loan investments, and debt repayment under its credit facilities. The Series A Preferred is not redeemable before November 12, 2030, except in limited REIT‑status and change‑of‑control cases; thereafter it may be redeemed at $25.00 plus accrued dividends. PINE intends to list the shares on the NYSE under the symbol PINE‑PA within 30 days of issuance and maintains a 9.8% ownership limit to support REIT status.

Alpine Income Property Trust, Inc. launched a primary offering of Series A Cumulative Redeemable Preferred Stock with a $25.00 per-share liquidation preference. Dividends are cumulative and payable quarterly, and the shares rank senior to common stock. The company intends to list the new preferred on the NYSE as PINE-PA. Generally, the shares are not redeemable before 2030, with optional redemption thereafter at $25.00 plus accrued dividends and a special optional redemption upon a qualified Change of Control. Holders receive limited voting rights if dividends are in arrears and a conversion right tied to certain Change of Control events, subject to an ownership cap.

Net proceeds will be contributed to the operating partnership for general corporate purposes, including property acquisitions, commercial loans and debt repayment. As of September 30, 2025, borrowings included $100 million under a 2027 term loan at ~3.75%, $158.5 million under the revolver at ~5.41%, and $100 million under a 2026 term loan at ~3.80%. The company’s charter limits ownership to 9.8% of any class or series, absent an approved exemption.

Alpine Income Property Trust (PINE) filed its Q3 2025 10‑Q, reporting higher revenue but a quarterly net loss as interest costs and impairments weighed on results. Total revenues were $14.6 million for the quarter, up from $13.5 million a year ago, led by lease income of $12.1 million and interest income from commercial loans of $2.3 million. Net loss attributable to the company was $1.3 million, versus net income of $3.1 million in Q3 2024.

Operating expenses rose to $12.1 million, including $1.9 million in impairment. Interest expense increased to $3.9 million. For the first nine months, revenues reached $43.6 million, with a net loss of $4.1 million. Cash from operations was $23.7 million year‑to‑date; the company paid cash dividends of $12.2 million and repurchased common stock totaling $8.8 million. Long‑term debt was $358.2 million at September 30, 2025.

PINE continued capital recycling: it acquired five properties for $60.8 million and sold 11 properties for $34.3 million (gains of $2.0 million). Commercial loan activity included six new originations with investment volume of $56.3 million, plus amendments and construction funding, with principal repayments of $50.5 million. Minimum future rental receipts totaled $292.7 million. Shares outstanding were 14,164,662 as of October 16, 2025.

Alpine Income Property Trust, Inc. (PINE) furnished an earnings press release and an investor presentation covering the quarter ended September 30, 2025. The materials are included as Exhibits 99.1 and 99.2.

The company states these disclosures are being furnished under Items 2.02 and 7.01 and are not deemed “filed” under Section 18 of the Exchange Act, nor incorporated by reference into other filings unless expressly stated.

Alpine Income Property Trust director M. Carson Good was issued 2,044 shares of the company's common stock on 10/01/2025 under the issuer's Non-Employee Director Compensation Policy. The shares were granted as the equity portion of his Q3 2025 quarterly retainer (valued at approximately $17,500) and in lieu of the cash portion of that retainer (cash component $12,500), using the 20-day trailing average closing price of $14.67250 to calculate the share count. After the transaction, the reporting person beneficially owned 23,352 shares. The Form 4 was signed by an attorney-in-fact on behalf of the reporting person and filed on 10/03/2025.

This filing documents a routine, policy-driven director compensation issuance rather than an open-market purchase or sale; the company disclosed the specific valuation method and the connection to the board-adopted compensation policy last amended on 01/30/2025.