PINE vs SPY

Comparison between Alpine Income Property Trust Inc (PINE, Company) and SPDR S&P 500 ETF Trust (SPY, ETF).

5-Year PerformanceSPY has outperformed PINE, delivering a return of +14.1% compared to +6.3%

PINE vs SPY - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	PINE(COMPANY)	SPY(ETF)
Market Cap / Net Assets	$318M	$735B
Expense Ratio	N/A	0.09%
Max Drawdown	60.00%	56.47%
Sharpe Ratio	1.37	2.00
5Y Beta	0.29	1.00
Industry	Reit - Retail	N/A
P/E Ratio	806.60	28.99
Forward P/E	91.74	22.43
Dividend Yield	5.99%	N/A
5Y Dividends CAGR	11.92%	5.43%
5Y EPS CAGR	-33.62%	26.05%
Debt to Equity	115.03%	32.40%
Free Cash Flow Yield	6.98%	N/A
P/S Ratio	5.28	3.74
P/B Ratio	1.04	5.61

Market Cap / Net Assets

PINE

$318M

Winner

SPY

$735B

Expense Ratio

PINE

N/A

SPY

0.09%

Max Drawdown

PINE

60.00%

Winner

SPY

56.47%

Sharpe Ratio

PINE

1.37

Winner

SPY

2.00

5Y Beta

Winner

PINE

0.29

SPY

1.00

Industry

PINE

Reit - Retail

SPY

N/A

P/E Ratio

PINE

806.60

Winner

SPY

28.99

Forward P/E

PINE

91.74

Winner

SPY

22.43

Dividend Yield

PINE

5.99%

SPY

N/A

5Y Dividends CAGR

Winner

PINE

11.92%

SPY

5.43%

5Y EPS CAGR

PINE

-33.62%

Winner

SPY

26.05%

Debt to Equity

PINE

115.03%

Winner

SPY

32.40%

Free Cash Flow Yield

PINE

6.98%

SPY

N/A

P/S Ratio

PINE

5.28

Winner

SPY

3.74

P/B Ratio

Winner

PINE

1.04

SPY

5.61

PINE vs SPY - Historical Returns

Returns include dividend reinvestment.

Period	PINE	SPY
1 month	+0.94%	+5.40%
3 months	+0.78%	+10.97%
6 months	+16.45%	+12.09%
1 year	+35.04%	+29.62%
5 years(CAGR)	+6.30%	+14.12%
10 years(CAGR)	N/A	+15.55%
Max(CAGR)	+6.64%	+8.59%

PINE

+0.94%

Winner

SPY

+5.40%

PINE

+0.78%

Winner

SPY

+10.97%

Winner

PINE

+16.45%

SPY

+12.09%

Winner

PINE

+35.04%

SPY

+29.62%

5Y(CAGR)

PINE

+6.30%

Winner

SPY

+14.12%

10Y(CAGR)

PINE

N/A

SPY

+15.55%

Max(CAGR)

PINE

+6.64%

Winner

SPY

+8.59%

PINE vs SPY - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	PINE	SPY
2026	+17.59%	+11.49%
2025	+7.77%	+18.00%
2024	+5.99%	+25.59%
2023	-5.67%	+26.72%
2022	-1.97%	-18.64%
2021	+48.94%	+30.52%
2020	-16.34%	+17.28%
2019	+0.46%	+31.09%
2018	N/A	-5.24%
2017	N/A	+20.78%
2016	N/A	+13.59%
2015	N/A	+1.31%
2014	N/A	+14.56%
2013	N/A	+29.00%
2012	N/A	+14.17%
2011	N/A	+0.85%
2010	N/A	+13.14%
2009	N/A	+22.67%
2008	N/A	-36.25%
2007	N/A	+5.32%
2006	N/A	+13.85%
2005	N/A	+5.32%
2004	N/A	+10.75%
2003	N/A	+24.18%
2002	N/A	-22.42%
2001	N/A	-10.13%
2000	N/A	-8.84%
1999	N/A	+8.61%

PINE vs SPY Drawdown Comparison

The maximum drawdown for PINE was -60.00%, occurring on Mar 18, 2020. Recovery took 246 trading sessions.

The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.

The current PINE drawdown is -3.83%.

Rank	PINE	SPY
#1	-60.00% Feb 21, 2020 - Feb 11, 2021	-55.20% Oct 9, 2007 - Aug 16, 2012
#2	-26.69% Feb 3, 2023 - Aug 29, 2024	-47.50% Mar 24, 2000 - Oct 26, 2006
#3	-24.72% Sep 5, 2024 - Dec 5, 2025	-33.70% Feb 19, 2020 - Aug 10, 2020
#4	-21.52% Jan 4, 2022 - Jan 11, 2023	-24.50% Jan 3, 2022 - Dec 13, 2023
#5	-14.21% Jul 21, 2021 - Dec 28, 2021	-19.34% Sep 20, 2018 - Apr 12, 2019
#6	-12.47% Feb 12, 2021 - Jun 1, 2021	-18.76% Feb 19, 2025 - Jun 26, 2025
#7	-11.11% Feb 13, 2026 - Mar 27, 2026	-13.02% Jul 20, 2015 - Apr 18, 2016
#8	-9.84% Jun 2, 2021 - Jul 2, 2021	-10.10% Jan 26, 2018 - Aug 6, 2018
#9	-6.11% Dec 9, 2025 - Jan 15, 2026	-9.44% Sep 2, 2020 - Nov 11, 2020
#10	-5.49% Jan 23, 2026 - Feb 5, 2026	-9.30% Jan 19, 2000 - Mar 17, 2000
#11	-4.55% Jul 2, 2021 - Jul 15, 2021	-9.05% Jul 19, 2007 - Oct 5, 2007
#12	-2.65% Jul 15, 2021 - Jul 21, 2021	-8.88% Jan 27, 2026 - Apr 14, 2026
#13	-2.11% Nov 22, 2019 - Dec 19, 2019	-8.41% Jul 16, 2024 - Sep 19, 2024
#14	-2.10% Dec 30, 2021 - Jan 3, 2022	-7.35% Sep 14, 2012 - Jan 2, 2013
#15	-1.92% Jan 13, 2020 - Feb 11, 2020	-7.27% Sep 18, 2014 - Oct 31, 2014

Correlation

Correlation between PINE and SPY is 0.78 which considered as a strong positive correlation - the stocks tend to move together.

0.78

-101

Dividend Comparison (1999 - 2026)

PINE vs SPY dividend yield comparison.

Year	PINE	SPY
2026	1.54%	0.24%
2025	6.82%	1.07%
2024	6.61%	1.21%
2023	6.51%	1.40%
2022	5.71%	1.65%
2021	5.06%	1.20%
2020	5.47%	1.52%
2019	0.30%	1.75%
2018	0.00%	2.04%
2017	0.00%	1.80%
2016	0.00%	2.03%
2015	0.00%	2.06%
2014	0.00%	1.87%
2013	0.00%	1.81%
2012	0.00%	2.18%
2011	0.00%	2.05%
2010	0.00%	1.80%
2009	0.00%	1.95%
2008	0.00%	3.02%
2007	0.00%	1.85%
2006	0.00%	1.73%
2005	0.00%	1.73%
2004	0.00%	1.82%
2003	0.00%	1.47%
2002	0.00%	1.70%
2001	0.00%	1.25%
2000	0.00%	1.15%
1999	0.00%	0.24%