Alpine Income Property Trust, Inc. (PINE)

NYSE, NYSE · REIT · Real Estate Investment Trusts

One email a week from me: what it filed, which 13F holders added or cut, where its scores stand. Free.

Corporate structure

89 entities across 2 jurisdictions. Read directly from the company’s own 10-K EX-21 filed 2026-02-05 — see the exhibit.

Which other public companies file entities in the same places:

Subsidiaries of Alpine Income Property Trust, Inc. as disclosed in its SEC filing
Entity	Jurisdiction	Note
Alpine Income Property GP, LLC	Delaware
Alpine Income Property OP, LP	Delaware
CTLC18 Lynn MA LLC	Delaware
CTO16 Reno LLC	Delaware
CTO17 Brandon FL LLC	Delaware
CTO17 Hillsboro OR LLC	Delaware
CTO19 Albany GA LLC	Delaware
CTO19 Birmingham LLC	Delaware
CTO19 Troy WI LLC	Delaware
Indigo Henry LLC	Florida
PINE MEX OH LLC	Delaware
PINE MEX OH 2 LLC	Delaware
PINE19 Alpharetta GA LLC	Delaware
PINE19 Georgetown TX LLC	Delaware
PINE19 Slaughter Austin TX LLC	Delaware
PINE20 Barker LLC	Delaware
PINE20 Bingham LLC	Delaware
PINE20 Blanding LLC	Delaware
PINE20 Chazy LLC	Delaware
PINE20 Cut & Shoot LLC	Delaware
PINE20 Del Rio LLC	Delaware
PINE20 Hammond LLC	Delaware
PINE20 Harrisville LLC	Delaware
PINE20 Heuvelton LLC	Delaware
PINE20 Howell MI LLC	Delaware
PINE20 Hurst TX LLC	Delaware
PINE20 Kermit LLC	Delaware
PINE20 Limestone LLC	Delaware
PINE20 Milford LLC	Delaware
PINE20 Newtonsville LLC	Delaware
PINE20 Odessa LLC	Delaware
PINE20 Salem LLC	Delaware
PINE20 Seguin LLC	Delaware
PINE20 Severn LLC	Delaware
PINE20 Somerville LLC	Delaware
PINE20 Tacoma LLC	Delaware
PINE20 Tyn LLC	Delaware
PINE20 Willis LLC	Delaware
PINE20 Winthrop LLC	Delaware
PINE21 Acquisitions LLC	Delaware
PINE21 Acquisitions II LLC	Delaware
PINE21 Acquisitions III LLC	Delaware
PINE21 Acquisitions IX LLC	Delaware
PINE21 Acquisitions V LLC	Delaware
PINE21 Acquisitions VI LLC	Delaware
PINE21 Acquisitions VII LLC	Delaware
PINE21 Acquisitions VIII LLC	Delaware
PINE21 Acquisitions X LLC	Delaware
PINE21 Houston East LLC	Delaware
PINE21 Houston West LLC	Delaware
PINE22 ACQ 3 LLC	Delaware
PINE22 Caesar LLC	Delaware
PINE23 IN Lender LLC	Delaware
PINE22 Malden MO LLC	Delaware
PINE22 Maple LLC	Delaware
PINE22 Wash Mo LLC	Delaware
PINE23 MM LLC	Delaware
PINE23 TN Lender LLC	Delaware
PINE24 Concord LLC	Delaware
PINE24 Coolray LLC fka PINE20 Sun WI LLC	Delaware
PINE24 Downer's Grove LLC	Delaware
PINE24 Knoxville LLC	Delaware
PINE24 Mt Carmel OH LLC	Delaware
PINE24 Oceanside BH LLC	Delaware
PINE24 Oceanside MV LLC	Delaware
PINE24 Oceanside SB LLC	Delaware
PINE24 Short Pump LLC	Delaware
PINE25 Canton LLC	Delaware
PINE25 CR Austin LLC	Delaware
PINE25 Cornerstone LLC	Delaware
PINE25 El Paso LLC	Delaware
PINE25 Freemont LLC	Delaware
PINE25 Longcliff LLC fka PINE20 Arden NC LLC	Delaware
PINE25 MM LLC	Delaware
PINE25 MM 2 LLC fka PINE21 Sports LLC	Delaware
PINE25 Orange Park LLC	Delaware
PINE25 Ormond Beach LLC	Delaware
PINE25 Palm Pike LLC	Delaware
PINE25 Parham LLC fka CTO19 Winston Salem NC LLC	Delaware
PINE25 Reno LLC	Delaware
PINE25 Rivana LLC	Delaware
PINE25 Riverpoint LLC fka PINE24 Clear Creek LLC	Delaware
PINE25 Stockton LLC	Delaware
PINE25 Stonedale fka PINE21 Acquisitions IV LLC	Delaware
PINE25 Stone Mountain LLC fka PINE20 Highland KY LLC	Delaware
PINE25 Tupelo LLC	Delaware
PINE25 Westminster LLC	Delaware
PINE25 Willowbrook LLC fka PINE25 Feasterville LLC	Delaware
Westheimer Road, LLC	Delaware

Financial health

Two standard screens, computed from the XBRL in FY2025 against FY2024. Every test shows the numbers behind it — a score with its inputs hidden is a number you cannot check.

Piotroski F-score

3 / 8

FAILReturn on assets positiveROA -0.4%
PASSOperating cash flow positiveOCF 26M
FAILReturn on assets improving0.3% → -0.4%
PASSCash flow exceeds earningsOCF 26M vs NI -3M
FAILLong-term debt ratio falling49.8% → 52.8% of assets
FAILCurrent ratio improvingno data
FAILNo share dilution15M → 16M shares
PASSGross margin improving84.2% → 86.0%
FAILAsset turnover improving0.09× → 0.08×

Six-year record

Year	Revenue	Net income	Free cash flow	Gross margin	Shares
FY2020	$19.2M	$985,000	—	—	8,812,203
FY2021	$30.1M	$10.0M	−$206.2M	—	11,246,227
FY2022	$45.2M	$29.7M	−$164.5M	87.9%	13,679,495
FY2023	$45.6M	$2.9M	−$94.2M	85.5%	15,560,524
FY2024	$52.2M	$2.1M	−$106.8M	84.2%	15,082,111
FY2025	$60.5M	−$2.7M	−$218.7M	86.0%	15,552,305

Ownership flow

1 institutions tracked — 1 added, 0 reduced.

Institutional holders of Alpine Income Property Trust, Inc. and their share-count change
Manager	Kind	Shares	Change	Value
GEODE CAPITAL MANAGEMENT, LLC	Index	402,974	+69,060	$8.4M

From 13F filings, which cover institutions managing over $100m and are filed up to 45 days after the quarter ends — so this is a considered position, not a live one, and it is not the whole shareholder register.

Capital returned

What the company actually paid out and bought back, as reported — the record behind any yield figure.

Dividend per share

2026Q1: $0.30
2025Q1: $0.28
2024Q1: $0.28
2023Q3: $0.28
2023Q2: $0.28
2023Q1: $0.28

Identity

CIK: 0001786117
LEI: 254900VQGUBS1J4C4N33
FIGI: BBG00QNSG6R5
SIC: 6798 · Real Estate Investment Trusts
Incorporated: MD
Headquarters: WINTER PARK, FL

Ownership

Institutional: 63.6%
Institutions: 206
Insiders: 7.6%

Ownership percentages are a vendor aggregate, not a filing — unlike everything else on this page.

Other real estate investment trusts companies

Alpine Income Property Trust, Inc. files under SIC 6798 — all 80 real estate investment trusts companies compared on assets and F-score.

Prologis, Inc.PLD Blackstone Real Estate Income Trust, Inc.BSTT WELLTOWER INC.WELL AMERICAN TOWER CORP /MA/AMT Rithm Capital Corp.RITM VICI PROPERTIES INC.VICI

Questions about Alpine Income Property Trust, Inc.

How many subsidiaries does Alpine Income Property Trust, Inc. file with the SEC?: 89, listed in its most recent exhibit 21. They are incorporated across 2 jurisdictions (Delaware, Florida). That exhibit is filed with the company's annual report and is the company's own list, not an estimate.
Is Alpine Income Property Trust, Inc. financially healthy?: Alpine Income Property Trust, Inc. scores 3 out of 8 on the Piotroski F-score. Only 8 of the nine tests could be computed from what it filed; the rest need a prior year it has not reported. Every test and the numbers behind it are shown above, so the arithmetic is checkable rather than something you have to take on trust.
Who are the largest institutional holders of Alpine Income Property Trust, Inc.?: Among the managers tracked here, the biggest positions as of the 2026-Q2 13F filings are GEODE CAPITAL MANAGEMENT, LLC (adding). Direction is the change in share count against that manager's own previous filing; managers with no prior filing are left out rather than counted as new buyers.

This page is one panel of the terminal

The structure map above is the Corporate Blueprint, and in the desktop it is interactive — click any entity to re-centre the map on it and walk the ownership chain. It sits alongside the screener, the scorecard and the filings lab on one desk, on your machine.

Download the terminal See pricing

Sourced from SEC EDGAR primary filings. Figures are as reported by the company and are not investment advice. Scores are standard published screens computed from those filings; every input is shown above so you can check the arithmetic.

Corporate structure

89 entities across 2 jurisdictions. Read directly from the company’s own 10-K EX-21 filed 2026-02-05 — see the exhibit.

Which other public companies file entities in the same places:

Delaware88 Florida1

Entity

Jurisdiction

Note

Alpine Income Property GP, LLC

Delaware

Alpine Income Property OP, LP

Delaware

CTLC18 Lynn MA LLC

Delaware

CTO16 Reno LLC

Delaware

CTO17 Brandon FL LLC

Delaware

CTO17 Hillsboro OR LLC

Delaware

CTO19 Albany GA LLC

Delaware

CTO19 Birmingham LLC

Delaware

CTO19 Troy WI LLC

Delaware

Indigo Henry LLC

Florida

PINE MEX OH LLC

Delaware

PINE MEX OH 2 LLC

Delaware

PINE19 Alpharetta GA LLC

Delaware

PINE19 Georgetown TX LLC

Delaware

PINE19 Slaughter Austin TX LLC

Delaware

PINE20 Barker LLC

Delaware

PINE20 Bingham LLC

Delaware

PINE20 Blanding LLC

Delaware

PINE20 Chazy LLC

Delaware

PINE20 Cut & Shoot LLC

Delaware

PINE20 Del Rio LLC

Delaware

PINE20 Hammond LLC

Delaware

PINE20 Harrisville LLC

Delaware

PINE20 Heuvelton LLC

Delaware

PINE20 Howell MI LLC

Delaware

PINE20 Hurst TX LLC

Delaware

PINE20 Kermit LLC

Delaware

PINE20 Limestone LLC

Delaware

PINE20 Milford LLC

Delaware

PINE20 Newtonsville LLC

Delaware

PINE20 Odessa LLC

Delaware

PINE20 Salem LLC

Delaware

PINE20 Seguin LLC

Delaware

PINE20 Severn LLC

Delaware

PINE20 Somerville LLC

Delaware

PINE20 Tacoma LLC

Delaware

PINE20 Tyn LLC

Delaware

PINE20 Willis LLC

Delaware

PINE20 Winthrop LLC

Delaware

PINE21 Acquisitions LLC

Delaware

PINE21 Acquisitions II LLC

Delaware

PINE21 Acquisitions III LLC

Delaware

PINE21 Acquisitions IX LLC

Delaware

PINE21 Acquisitions V LLC

Delaware

PINE21 Acquisitions VI LLC

Delaware

PINE21 Acquisitions VII LLC

Delaware

PINE21 Acquisitions VIII LLC

Delaware

PINE21 Acquisitions X LLC

Delaware

PINE21 Houston East LLC

Delaware

PINE21 Houston West LLC

Delaware

PINE22 ACQ 3 LLC

Delaware

PINE22 Caesar LLC

Delaware

PINE23 IN Lender LLC

Delaware

PINE22 Malden MO LLC

Delaware

PINE22 Maple LLC

Delaware

PINE22 Wash Mo LLC

Delaware

PINE23 MM LLC

Delaware

PINE23 TN Lender LLC

Delaware

PINE24 Concord LLC

Delaware

PINE24 Coolray LLC fka PINE20 Sun WI LLC

Delaware

PINE24 Downer's Grove LLC

Delaware

PINE24 Knoxville LLC

Delaware

PINE24 Mt Carmel OH LLC

Delaware

PINE24 Oceanside BH LLC

Delaware

PINE24 Oceanside MV LLC

Delaware

PINE24 Oceanside SB LLC

Delaware

PINE24 Short Pump LLC

Delaware

PINE25 Canton LLC

Delaware

PINE25 CR Austin LLC

Delaware

PINE25 Cornerstone LLC

Delaware

PINE25 El Paso LLC

Delaware

PINE25 Freemont LLC

Delaware

PINE25 Longcliff LLC fka PINE20 Arden NC LLC

Delaware

PINE25 MM LLC

Delaware

PINE25 MM 2 LLC fka PINE21 Sports LLC

Delaware

PINE25 Orange Park LLC

Delaware

PINE25 Ormond Beach LLC

Delaware

PINE25 Palm Pike LLC

Delaware

PINE25 Parham LLC fka CTO19 Winston Salem NC LLC

Delaware

PINE25 Reno LLC

Delaware

PINE25 Rivana LLC

Delaware

PINE25 Riverpoint LLC fka PINE24 Clear Creek LLC

Delaware

PINE25 Stockton LLC

Delaware

PINE25 Stonedale fka PINE21 Acquisitions IV LLC

Delaware

PINE25 Stone Mountain LLC fka PINE20 Highland KY LLC

Delaware

PINE25 Tupelo LLC

Delaware

PINE25 Westminster LLC

Delaware

PINE25 Willowbrook LLC fka PINE25 Feasterville LLC

Delaware

Westheimer Road, LLC

Delaware

Financial health

Two standard screens, computed from the XBRL in FY2025 against FY2024. Every test shows the numbers behind it — a score with its inputs hidden is a number you cannot check.

Piotroski F-score

3 / 8

FAILReturn on assets positiveROA -0.4%
PASSOperating cash flow positiveOCF 26M
FAILReturn on assets improving0.3% → -0.4%
PASSCash flow exceeds earningsOCF 26M vs NI -3M
FAILLong-term debt ratio falling49.8% → 52.8% of assets
FAILCurrent ratio improvingno data
FAILNo share dilution15M → 16M shares
PASSGross margin improving84.2% → 86.0%
FAILAsset turnover improving0.09× → 0.08×

Six-year record

Year	Revenue	Net income	Free cash flow	Gross margin	Shares
FY2020	$19.2M	$985,000	—	—	8,812,203
FY2021	$30.1M	$10.0M	−$206.2M	—	11,246,227
FY2022	$45.2M	$29.7M	−$164.5M	87.9%	13,679,495
FY2023	$45.6M	$2.9M	−$94.2M	85.5%	15,560,524
FY2024	$52.2M	$2.1M	−$106.8M	84.2%	15,082,111
FY2025	$60.5M	−$2.7M	−$218.7M	86.0%	15,552,305

Ownership flow

1 institutions tracked — 1 added, 0 reduced.

Institutional holders of Alpine Income Property Trust, Inc. and their share-count change
Manager	Kind	Shares	Change	Value
GEODE CAPITAL MANAGEMENT, LLC	Index	402,974	+69,060	$8.4M

Questions about Alpine Income Property Trust, Inc.

How many subsidiaries does Alpine Income Property Trust, Inc. file with the SEC?

89, listed in its most recent exhibit 21. They are incorporated across 2 jurisdictions (Delaware, Florida). That exhibit is filed with the company's annual report and is the company's own list, not an estimate.

Is Alpine Income Property Trust, Inc. financially healthy?

Alpine Income Property Trust, Inc. scores 3 out of 8 on the Piotroski F-score. Only 8 of the nine tests could be computed from what it filed; the rest need a prior year it has not reported. Every test and the numbers behind it are shown above, so the arithmetic is checkable rather than something you have to take on trust.

Who are the largest institutional holders of Alpine Income Property Trust, Inc.?

Among the managers tracked here, the biggest positions as of the 2026-Q2 13F filings are GEODE CAPITAL MANAGEMENT, LLC (adding). Direction is the change in share count against that manager's own previous filing; managers with no prior filing are left out rather than counted as new buyers.