COMP <GO>
PINE vs KREF // EV/EBITDA & P/E VALUATION
Alpine Income Property Trust Inc. (NYSE) VS. KKR Real Estate Finance Trust Inc. (NYSE) • 15-METRIC TALLY: PINE 3
— KREF 3
■ METRIC PARITY
LAST: $16.55 (+2.16%) • MKT CAP: $296.9M
valuation
22.3x
LAST: $5.83 (+3.55%) • MKT CAP: $334.1M
valuation
—
15-METRIC INSTITUTIONAL SIDE-BY-SIDE SCORECARD (PINE VS. KREF)
EMERALD CELL = QUANTITATIVE EDGE
| INSTITUTIONAL METRIC | PINE | KREF | SPREAD (A - B) | ADVANTAGE | DEDICATED URL |
|---|---|---|---|---|---|
| Gross Profit Margin | — | — | — | TIE | /gross-margins <GO> |
| Return on Invested Capital (ROIC) | 3.80% | -4.00% | +7.80 | PINE | /roic <GO> |
| EV/EBITDA & P/E Valuation ACTIVE | 22.3x | — | — | TIE | /valuation <GO> |
| Free Cash Flow Yield | 8.67% | 21.64% | -12.97 | KREF | /fcf-yield <GO> |
| Operating Margin | 21.70% | — | — | TIE | /operating-margins <GO> |
| Net Profit Margin | -4.40% | — | — | TIE | /net-margins <GO> |
| Revenue Growth (YoY) | 15.90% | — | — | TIE | /revenue-growth <GO> |
| Dividend Yield & FCF Payout Safety | 5.97% | 0.00% | +5.97 | PINE | /dividend-safety <GO> |
| Altman Z-Score & Debt/Equity | — | — | — | TIE | /balance-sheet <GO> |
| Piotroski F-Score Quality | 4/9 | 3/9 | +1.00 | PINE | /piotroski-score <GO> |
| Options Implied Move & Put/Call Skew | — | — | — | TIE | /options-implied-move <GO> |
| RSI-14 & 200D SMA Momentum | 39.2 | 46.9 | -7.70 | KREF | /rsi-technicals <GO> |
| 10Y Yield & FRED Macro Beta | — | — | — | TIE | /macro-sensitivity <GO> |
| Forward P/E Multiple | — | — | — | TIE | /forward-pe <GO> |
| Enterprise Scale & Market Cap | $296.9M | $334.1M | -$37.2M | KREF | /market-cap <GO> |
5-YEAR HISTORICAL XBRL REVENUE & MARGIN TRAJECTORY SEC FORM 10-K FY
| FISCAL YEAR | PINE REV | KREF REV | PINE GROSS % | KREF GROSS % | PINE FCF | KREF FCF |
|---|---|---|---|---|---|---|
| FY 2025 | $60.5M | $0 | — | — | $25.8M | $72.3M |
| FY 2024 | $52.2M | $0 | — | — | $23.4M | $132.6M |
| FY 2023 | $45.6M | $0 | — | — | $23.2M | $155.7M |
FRED MACRO REGIME CORRELATION COMPARISON PEARSON r
PINE // BETA —
KREF // BETA —