4/A: CTO Realty Growth Increases Stake in Alpine Income Property Trust

CTO Realty Growth, Inc. reports additional purchases of Alpine Income Property Trust (PINE) stock through a 10b5-1 trading plan, increasing its indirect beneficial ownership.

Summary

• CTO Realty Growth, Inc. filed an amendment to its Form 4, initially filed on June 17, 2024, to correct the date of the earliest transaction.
• The corrected filing reports purchases of Alpine Income Property Trust (PINE) common stock on June 13 and June 14, 2024.
• On June 13, 2024, CTO Realty Growth acquired 830 shares at a weighted-average price of $14.9866 per share, with prices ranging from $14.97 to $15.00.
• On June 14, 2024, the company purchased an additional 7,900 shares at a weighted-average price of $14.9184 per share, with prices ranging from $14.80 to $15.00.
• Following these transactions, CTO Realty Growth indirectly beneficially owns 182,135 shares of PINE common stock through its wholly-owned subsidiary, CTO TRS Crisp39 LLC, and directly owns 935,703 shares.
• The purchases were executed under a pre-arranged Rule 10b5-1 trading plan adopted on February 28, 2023.

Sentiment

Score: 6

Explanation: The sentiment is neutral to slightly positive. The purchases indicate confidence, but the filing is primarily a routine disclosure.

Positives

• CTO Realty Growth's increased investment in Alpine Income Property Trust could signal confidence in PINE's future performance.
• The purchases were made through a pre-arranged 10b5-1 trading plan, indicating a planned and consistent investment strategy.

Risks

• The filing is an amendment to correct an error in the original filing, which could raise minor concerns about the accuracy of previous disclosures.
• The purchases represent a relatively small percentage of PINE's total outstanding shares, so the impact on the stock price may be limited.

Future Outlook

The filing does not contain specific forward-looking statements, but the continued purchases under the 10b5-1 trading plan suggest a planned investment strategy.

Industry Context

Real estate investment trusts (REITs) are often subject to insider trading regulations, and Form 4 filings are a common way for investors to track changes in beneficial ownership. CTO Realty Growth's investment in Alpine Income Property Trust reflects activity within the REIT sector.

Comparison to Industry Standards

• Form 4 filings are standard practice for reporting changes in beneficial ownership as per SEC regulations.
• The use of a 10b5-1 trading plan is a common strategy for corporate insiders to make regular stock purchases or sales while avoiding accusations of insider trading.
• Comparing CTO Realty Growth's investment strategy with other REIT investors would require analyzing similar filings and investment patterns within the industry.

Stakeholder Impact

• The increased stake could positively influence shareholder confidence in Alpine Income Property Trust.
• The transactions have minimal direct impact on employees, customers, suppliers, or creditors.

Key Dates