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

CTO Realty Growth, a 10% owner and director, significantly increased its indirect beneficial ownership in Alpine Income Property Trust through a series of common stock purchases totaling 69,501 shares under a Rule 10b5-1 plan.

Summary

• CTO Realty Growth, Inc., a 10% owner and director of Alpine Income Property Trust, Inc. (PINE), acquired a total of 69,501 shares of PINE common stock.
• These purchases occurred over three consecutive days: 25,326 shares on July 29, 2025, at a weighted-average price of $14.4334; 23,334 shares on July 30, 2025, at $14.2196; and 20,841 shares on July 31, 2025, at $14.0598.
• The transactions were executed 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 of PINE common stock through its wholly-owned subsidiary, CTO TRS Crisp39 LLC, in addition to 935,703 shares held directly.

Sentiment

Score: 7

Explanation: The filing indicates significant insider buying by a 10% owner and director, which is generally a positive signal of confidence in the company's future. The execution under a 10b5-1 plan further suggests a strategic, pre-meditated investment.

Positives

• Significant insider buying by CTO Realty Growth, a 10% owner and director, signals strong confidence in Alpine Income Property Trust's future prospects.
• The purchases were executed under a Rule 10b5-1 trading plan, indicating a pre-planned, strategic investment decision rather than opportunistic trading based on immediate non-public information.

Negatives

• The weighted-average purchase price for the shares declined slightly over the three days of transactions, from $14.4334 to $14.0598.

Future Outlook

NA

Industry Context

CTO Realty Growth, Inc. and Alpine Income Property Trust, Inc. both operate within the real estate investment trust (REIT) sector. This transaction represents an investment by one real estate entity into another, potentially indicating a strategic interest or a belief in the value proposition within the broader real estate market or specific sub-sectors.

Corporate Governance

Related Party Transactions

• CTO Realty Growth, Inc., a 10% owner and director of Alpine Income Property Trust, Inc., purchased 69,501 shares of Alpine Income Property Trust common stock over three days (July 29-31, 2025) through its wholly-owned subsidiary, CTO TRS Crisp39 LLC. These transactions constitute related party dealings due to CTO Realty Growth's significant ownership and board representation.

Stakeholder Impact

• Shareholders of Alpine Income Property Trust, Inc. may view the increased stake by a significant owner and director as a positive indicator of confidence in the company's valuation and future performance.

Key Dates

Recommendation

The significant increase in ownership by CTO Realty Growth, a 10% owner and director, signals strong confidence in Alpine Income Property Trust's future prospects. This insider buying, executed under a pre-planned 10b5-1 program, suggests a strategic investment rather than opportunistic trading, which is generally viewed favorably by investors and could indicate undervaluation or strong future performance expectations.

Keywords

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