COMMON STOCK AND EARNINGS PER SHARE (Tables)

12 Months Ended

Dec. 31, 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):

	Year Ended
	December 31, 2022		December 31, 2021		December 31, 2020
Net Income Attributable to Alpine Income Property Trust, Inc.	$	29,720	$	9,964	$	985
Weighted Average Number of Common Shares Outstanding		11,976,001		9,781,066		7,588,349
Weighted Average Number of Common Shares Applicable to OP Units using Treasury Stock Method (1)		1,703,494		1,465,161		1,223,854
Total Shares Applicable to Diluted Earnings per Share		13,679,495		11,246,227		8,812,203
Per Common Share Data:
Net Income Attributable to Alpine Income Property Trust, Inc.
Basic	$	2.48	$	1.02	$	0.13
Diluted	$	2.17	$	0.89	$	0.11

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