COMMON STOCK AND EARNINGS PER SHARE (Tables)

6 Months Ended

Jun. 30, 2022

COMMON STOCK AND EARNINGS PER SHARE

Schedule of computation of earnings per share

The following is a reconciliation of basic and diluted earnings per common share (in thousands, except share and per share data):

	Three Months Ended				Six Months Ended
	June 30, 2022		June 30, 2021		June 30, 2022		June 30, 2021
Net Income Attributable to Alpine Income Property Trust, Inc.	$	14,282	$	304	$	15,088	$	744
Weighted Average Number of Common Shares Outstanding		11,844,108		8,853,259		11,753,904		8,212,902
Weighted Average Number of Common Shares Applicable to OP Units using Treasury Stock Method (1)		1,703,494		1,228,524		1,703,494		1,226,202
Total Shares Applicable to Diluted Earnings per Share		13,547,602		10,081,783		13,457,398		9,439,104
Per Common Share Data:
Net Income Attributable to Alpine Income Property Trust, Inc.
Basic	$	1.21	$	0.03	$	1.28	$	0.09
Diluted	$	1.05	$	0.03	$	1.12	$	0.08

(1) Represents shares underlying OP units including (i) 1,223,854 shares underlying OP Units issued to CTO in connection with our Formation Transactions and (ii) 479,640 shares underlying OP Units issued to an unrelated third party in connection with the acquisition of ten net lease properties during the year ended December 31, 2021 (see Note 11, “Equity”).