Form 4: CTO Realty Growth Boosts Stake in Alpine Income Property Trust Through Planned Purchases

CTO Realty Growth, a significant shareholder and director, increased its beneficial ownership in Alpine Income Property Trust, Inc. through a series of pre-arranged stock purchases.

Summary

• CTO Realty Growth, Inc., identified as a Director and 10% Owner of Alpine Income Property Trust, Inc. (PINE), acquired additional shares of common stock.
• Transactions occurred on July 29, 2025, July 30, 2025, and July 31, 2025.
• On July 29, 2025, 25,326 shares were purchased at a weighted-average price of $14.4334 per share, with prices ranging from $14.07 to $14.62.
• On July 30, 2025, 23,334 shares were purchased at a weighted-average price of $14.2196 per share, with prices ranging from $14.03 to $14.41.
• On July 31, 2025, 20,841 shares were purchased at a weighted-average price of $14.0598 per share, with prices ranging from $13.96 to $14.145.
• These purchases totaled 69,501 shares of common stock.
• All reported purchases were effected pursuant to a Rule 10b5-1 trading plan adopted by CTO Realty Growth, Inc. on July 28, 2025.
• Following these transactions, CTO Realty Growth, Inc. indirectly beneficially owns 272,419 shares through its wholly-owned subsidiary, CTO TRS Crisp39 LLC.
• Additionally, CTO Realty Growth, Inc. directly beneficially owns 935,703 shares of common stock.
• Total beneficial ownership by CTO Realty Growth, Inc. in Alpine Income Property Trust, Inc. now stands at 1,208,122 shares.

Sentiment

Score: 9

Explanation: The sentiment is highly positive due to significant insider buying by a 10% owner and director, indicating strong confidence in the company's prospects and valuation.

Positives

• A 10% owner and director, CTO Realty Growth, Inc., increased its stake in Alpine Income Property Trust, Inc., signaling strong insider confidence.
• The purchases were executed under a Rule 10b5-1 trading plan, indicating a pre-planned, structured investment strategy rather than opportunistic trading.

Future Outlook

The adoption of a Rule 10b5-1 trading plan indicates a pre-determined strategy for future equity transactions by CTO Realty Growth, Inc., suggesting a structured approach to its investment in Alpine Income Property Trust, Inc.

Management Comments

• CTO Realty Growth, Inc. undertakes to provide full information regarding the number of shares purchased at each separate price within the reported ranges upon request to the Issuer, any security holder, or the SEC staff.

Industry Context

This filing reflects investment activity within the real estate sector, specifically involving a Real Estate Investment Trust (REIT), Alpine Income Property Trust, Inc., and a real estate-focused company, CTO Realty Growth, Inc. It highlights a strategic investment by a significant player in the sector.

Corporate Governance

Related Party Transactions

• The transactions involve CTO Realty Growth, Inc., which is a 10% owner and Director of Alpine Income Property Trust, Inc., making these related-party transactions (insider purchases).

Stakeholder Impact

• Shareholders of Alpine Income Property Trust, Inc. may view the increased stake by a significant owner and director as a positive signal, potentially boosting investor confidence and the company's stock price.

Key Dates

Recommendation

The substantial purchases by CTO Realty Growth, Inc., a 10% owner and director of Alpine Income Property Trust, Inc., signify robust insider confidence. This strategic accumulation of shares, executed under a Rule 10b5-1 plan, suggests a belief in the company's fundamental value and future growth potential, making it a compelling 'strong buy' for investors.

Keywords

CTO Realty Growth, Alpine Income Property Trust, PINE, Insider Buying, Form 4, SEC Filing, Stock Purchase, 10b5-1 Plan, Beneficial Ownership, Equity Acquisition, Real Estate Investment Trust, REIT