Alpine Income Property Trust Inc 2026年季度报告

☒QUARTERLY REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIESEXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2026 TRANSITION REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIESEXCHANGE ACT OF 1934For the transition period fromtoCommission file number001-39143 ALPINE INCOME PROPERTY TRUST, INC. (Exact name of registrant as specified in its charter) N/A (Former name, former address and former fiscalyear, if changed since last report) Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d)of the SecuritiesExchange Act of 1934 during the preceding 12months (or for such shorter period that the registrant was required to file such reports),and (2)has been subject to such filing requirements for the past 90days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronicallyevery Interactive Data File required to be submittedpursuant to Rule405 of Regulation S-T (§232.405 of this chapter) during the preceding 12months (or for such shorter period that theregistrant was required to submit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smallerreporting company,” and “emerging growth company” in Rule12b-2 of the Exchange Act. Large Accelerated Filer☐Accelerated Filer☐Non-accelerated Filer☒Smaller Reporting Company☒Emerging Growth Company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section13(a)of the Exchange Act.☐ The number of shares of the registrant’s common stock outstanding on April 16, 2026 was 16,524,709. INDEX No.PARTI—FINANCIAL INFORMATIONItem1.Financial Statements3Consolidated Balance Sheets– March 31, 2026 (Unaudited) and December 31, 20253Consolidated Statements of Operations– Three months ended March 31, 2026 and 2025(Unaudited)4Consolidated Statements of Comprehensive Income – Three months ended March 31,2026 and 2025 (Unaudited)5Consolidated Statements of Stockholders’ Equity– Three months ended March 31, 2026and 2025 (Unaudited)6Consolidated Statements of Cash Flows– Three months ended March 31, 2026 and 2025(Unaudited)7Notesto Consolidated Financial Statements (Unaudited)9Item2.Management’s Discussion and Analysis of Financial Condition and Results ofOperations38Item 3.Quantitative and Qualitative Disclosures About Market Risk46Item4.Controls and Procedures46PARTII—OTHER INFORMATION46Item1.Legal Proceedings46Item1A.Risk Factors47Item2.Unregistered Sales of Equity Securities and Use of Proceeds47Item3.Defaults Upon Senior Securities47Item4.Mine Safety Disclosures47Item5.Other Information47Item6.Exhibits48SIGNATURES49 PARTI—FINANCIAL INFORMATIONITEM1. FINANCIAL STATEMENTS ALPINE INCOME PROPERTY TRUST,INC.CONSOLIDATED BALANCE SHEETS(In thousands, except share and per share data) ALPINE INCOME PROPERTY TRUST,INC.CONSOLIDATED STATEMENTS OF OPERATIONS(Unaudited, in thousands, except share and per share data) ALPINE INCOME PROPERTY TRUST,INC.CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)(Unaudited, in thousands) ALPINE INCOME PROPERTY TRUST,INC.CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY(Unaudited, in thousands, except per share data) For the three months ended March 31, 2026: For the three months ended March 31, 2025: ALPINE INCOME PROPERTY TRUST,INC.CONSOLIDATED STATEMENTS OF CASH FLOWS(Unaudited, in thousands) Three Months EndedMarch31, 2026March31, 2025Cash Flow From Operating Activities:Net Income (Loss)$2,357$(1,278)Adjustments to Reconcile Net Income (Loss) to Net Cash Provided By OperatingActivities:Depreciation and Amortization7,2157,307Amortization of Intangible Lease Assets and Liabilities to Lease Income(236)(80)Amortization of Deferred Financing Costs to Interest Expense265190Accretion of Commercial Loans and Investments Origination Fees(256)(80)Paid-In-Kind Accrued Interest(544)—Gain on Disposition of Assets(97)(1,151)Provision for Impairment5082,031Non-Cash Compensation9595Decrease (Increase) in Assets:Straight-Line Rent Adjustment(157)(131)Other Assets(1,871)(331)Increase (Decrease) in Liabilities:Accounts Payable, Accrued Expenses, and Other Liabilities7027Prepaid Rent and Deferred Revenue(2,989)(771)Net Cash Provided By Operating Activities4,3605,828Cash Flow From Investing Activities:Acquisition of Real Estate Including Intangible Lease Assets and Liabilities—(39,988)Proceeds from Disposition of Assets5,53011,149Acquisition of Commercial Loans and Investments(57,529)(21,383)Principal Payments Received on Commercial Loans and Investments8,217875Proceeds from Sale of Participation Interest10,763—Payments on Participation Obligation(465)(819)Cash Received for Commercial L