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© 2023 Alpine Income Property Trust, Inc. | alpinereit.com
Statement of Operations
Alpine Income Property Trust, Inc.
Consolidated Statements of Operations
(Unaudited)
(In thousands, except share, per share and dividend data)
1. Includes the weighted average impact of 1,703,494 shares underlying OP units including (i) 1,223,854 shares underlying OP Units issued to CTO Realty Growth, Inc. and (ii) 479,640 shares underlying OP Units issued to an unrelated third party.
Three Months Ended Six Months Ended
June 30, 2023 June 30, 2022 June 30, 2023 June 30, 2022
Revenues:
Lease Income $ 11,439 $ 11,280 $ 22,605 $ 22,079
Total Revenues 11,439 11,280 22,605 22,079
Operating Expenses:
Real Estate Expenses 1,575 1,285 3,009 2,377
General and Administrative Expenses 1,656 1,479 3,171 2,910
Depreciation and Amortization 6,423 5,694 12,758 11,366
Total Operating Expenses 9,654 8,458 18,938 16,653
Gain of Disposition of Assets 743 15,637 5,196 15,637
Gain on Extinguishment of Debt — — 23 —
Net Income from Operations 2,528 18,459 8,886 21,063
Interest Expense 2,438 2,123 5,051 3,803
Net Income 90 16,336 3,835 17,260
Less: Net Income Attributable to Noncontrolling Interest (10) (2,054) (416) (2,172)
Net Income Attributable to Alpine Income Property Trust, Inc. $ 80 $ 14,282 $ 3,419 $ 15,088
Per Common Share Data:
Net Income
Basic $ 0.01 $ 1.21 $ 0.24 $ 1.28
Diluted $ 0.01 $ 1.05 $ 0.22 $ 1.12
Weighted Average Number of Common Shares:
Basic 14,059,173 11,844,108 14,030,025 11,753,904
Diluted1
15,762,667 13,547,602 15,733,519 13,457,398
Dividends Declared and Paid $ 0.275 $ 0.270 $ 0.550 $ 0.540 |