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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 Nine Months Ended
September 30, 2023 September 30, 2022 September 30, 2023 September 30, 2022
Revenues:
Lease Income $ 11,447 $ 11,520 $ 33,951 $ 33,599
Interest Income from Commercial Loan Investments 112 — 112 —
Total Revenues 11,559 11,520 34,063 33,599
Operating Expenses:
Real Estate Expenses 1,722 1,816 4,731 4,193
General and Administrative Expenses 1,652 1,460 4,823 4,370
Provision for Impairment 2,864 — 2,864 —
Depreciation and Amortization 6,528 5,866 19,286 17,232
Total Operating Expenses 12,766 9,142 31,704 25,795
Gain of Disposition of Assets 2,586 11,611 7,782 27,248
Gain (Loss) on Extinguishment of Debt — (284) 23 (284)
Net Income from Operations 1,379 13,705 10,164 34,768
Investment and Other Income 125 9 226 9
Interest Expense (2,443) (2,544) (7,494) (6,347)
Net Income (Loss) (939) 11,170 2,896 28,430
Less: Net Income (Loss) Attributable to Noncontrolling Interest (102) 1,400 314 3,572
Net Income (Loss) Attributable to Alpine Income Property Trust, Inc. $ (837) $ 9,770 $ 2,582 $ 24,858
Per Common Share Data:
Net Income (Loss)
Basic $ (0.06) $ 0.82 $ 0.18 $ 2.11
Diluted $ (0.05) $ 0.72 $ 0.16 $ 1.84
Weighted Average Number of Common Shares:
Basic 13,946,194 11,888,171 14,001,774 11,799,151
Diluted1
15,649,688 13,591,665 15,705,268 13,502,645
Dividends Declared and Paid $ 0.275 $ 0.275 $ 0.825 $ 0.815 |