Form 4: CTO Realty Growth Boosts PINE Stake

CTO Realty Growth, a 10% owner and director of Alpine Income Property Trust, increased its indirect beneficial ownership of PINE common stock through open market purchases.

Summary

• CTO Realty Growth, Inc. (the reporting person) is a Director and 10% owner of Alpine Income Property Trust, Inc. (PINE).
• The reporting person acquired a total of 39,580 shares of PINE common stock through three separate transactions between August 1, 2025, and August 5, 2025.
• These purchases were made pursuant to a Rule 10b5-1 trading plan adopted on July 28, 2025.
• The shares were acquired at weighted-average prices ranging from $14.1121 to $14.3461 per share.
• As of August 5, 2025, CTO Realty Growth, Inc. indirectly beneficially owns 311,999 shares of PINE common stock through its wholly-owned subsidiary, CTO TRS Crisp39 LLC.
• Additionally, CTO Realty Growth, Inc. directly beneficially owns 935,703 shares of PINE common stock.
• Total beneficial ownership (direct and indirect) is 1,247,702 shares.

Sentiment

Score: 8

Explanation: The filing indicates a significant insider, CTO Realty Growth, Inc., has increased its beneficial ownership in Alpine Income Property Trust, suggesting a positive outlook and confidence in the company's valuation and future performance.

Positives

• A significant insider, CTO Realty Growth, Inc., increased its stake in Alpine Income Property Trust, indicating confidence in the company's future prospects.
• The purchases were executed through a pre-planned Rule 10b5-1 trading plan, suggesting a systematic investment strategy rather than opportunistic timing.

Future Outlook

NA

Industry Context

This insider transaction for Alpine Income Property Trust, a real estate investment trust (REIT), suggests confidence from a significant shareholder and director in the company's specific performance or the broader real estate sector's outlook.

Related Party Transactions

• CTO Realty Growth, Inc., a 10% owner and director of Alpine Income Property Trust, Inc., acquired additional shares of PINE common stock.
• The shares were acquired by CTO TRS Crisp39 LLC, a wholly-owned subsidiary of CTO Realty Growth, Inc., making it an indirect beneficial ownership for CTO Realty Growth, Inc.

Stakeholder Impact

• Shareholders: May view the insider buying as a positive signal of management and significant shareholder confidence, potentially leading to increased investor interest and positive sentiment towards the stock.

Key Dates

Recommendation

The significant increase in beneficial ownership by CTO Realty Growth, Inc., a 10% owner and director, signals strong insider confidence in Alpine Income Property Trust's valuation and future prospects. This systematic accumulation through a Rule 10b5-1 plan suggests a strategic long-term view, making the stock an attractive consideration for accumulation.

Keywords

Alpine Income Property Trust, PINE, CTO Realty Growth, insider buying, Form 4, beneficial ownership, real estate, REIT