| Schedule of computation of earnings per share |
| | | | | | | | | | | | | | | Three Months Ended | | Nine Months Ended | | | September 30, 2021 | | September 30, 2020 | | September 30, 2021 | | September 30, 2020 | Net Income Attributable to Alpine Income Property Trust, Inc. | | $ | 918 | | $ | 546 | | $ | 1,662 | | $ | 799 | | | | | | | | | | | | | | Weighted Average Number of Common Shares Outstanding | | | 11,299,548 | | | 7,455,281 | | | 9,253,090 | | | 7,632,660 | Weighted Average Number of Common Shares Applicable to OP Units using Treasury Stock Method (1) | | | 1,696,955 | | | 1,223,854 | | | 1,384,844 | | | 1,223,854 | Total Shares Applicable to Diluted Earnings per Share | | | 12,996,503 | | | 8,679,135 | | | 10,637,934 | | | 8,856,514 | | | | | | | | | | | | | | Per Common Share Data: | | | | | | | | | | | | | Net Income Attributable to Alpine Income Property Trust, Inc. | | | | | | | | | | | | | Basic | | $ | 0.08 | | $ | 0.07 | | $ | 0.18 | | $ | 0.10 | Diluted | | $ | 0.07 | | $ | 0.06 | | $ | 0.16 | | $ | 0.09 |
| (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 nine months ended September 30, 2021 (see Note 10, “Equity”). |
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