Alpine Income Property Trust announces a $10 million common stock repurchase program, subject to changes and market conditions.
Quiver AI Summary
Alpine Income Property Trust, Inc. has announced the approval of a new common stock repurchase program by its Board of Directors, allowing the company to buy back up to $10 million of its common stock in the open market or through block trades. The program does not set a specific requirement for the number of shares or the dollar amount to be repurchased and may be suspended or discontinued at the Company's discretion. Alpine Income Property Trust is a publicly traded real estate investment trust focused on investing in single tenant net leased commercial properties, primarily leased to high-quality tenants. They also remind investors to be aware of potential risks associated with future market conditions and the broader economy.
Potential Positives
- The Board of Directors has approved a new common stock repurchase program, signaling confidence in the company's financial health and future prospects.
- The repurchase program allows the company to buy back up to $10,000,000 worth of shares, which could improve shareholder value and enhance earnings per share.
- The flexible nature of the program allows the company to suspend or discontinue share repurchases, providing financial agility in response to market conditions.
- The press release highlights the company's strategy to deliver attractive risk-adjusted returns and dependable cash dividends, reinforcing its commitment to shareholder returns.
Potential Negatives
- The announcement of a new stock repurchase program may indicate that the company feels its stock price is undervalued, which could raise concerns among investors about the company's market performance.
- The fact that the repurchase program does not guarantee any specific amount or number of shares to be repurchased may lead to uncertainty regarding the company's commitment to returning value to shareholders.
- Potential tenant defaults and other economic risks mentioned in the forward-looking statements could raise alarms about the company's financial stability and future performance.
FAQ
What is the new common stock repurchase program approved by Alpine Income Property Trust?
The program allows the Company to repurchase up to $10 million of its common stock in the open market.
How much can Alpine Income Property Trust spend on stock repurchases?
The Company can spend up to $10,000,000 on buying back its common stock.
Can Alpine Income Property Trust be required to repurchase a certain number of shares?
No, the program does not mandate the repurchase of any specific number or dollar amount of shares.
What type of properties does Alpine Income Property Trust invest in?
The Company invests in single-tenant net leased commercial properties primarily leased to high-quality tenants.
Where can I find more information about Alpine Income Property Trust?
You can view their latest investor presentation on their website at http://www.alpinereit.com.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$PINE Insider Trading Activity
$PINE insiders have traded $PINE stock on the open market 5 times in the past 6 months. Of those trades, 0 have been purchases and 5 have been sales.
Here’s a breakdown of recent trading of $PINE stock by insiders over the last 6 months:
- ANDREW C RICHARDSON has made 0 purchases and 4 sales selling 3,000 shares for an estimated $53,600.
- WEIN RACHEL ELIAS sold 2,000 shares for an estimated $36,000
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$PINE Hedge Fund Activity
We have seen 58 institutional investors add shares of $PINE stock to their portfolio, and 41 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- BLACKROCK, INC. added 230,291 shares (+29.4%) to their portfolio in Q4 2024, for an estimated $3,866,585
- ARROWSTREET CAPITAL, LIMITED PARTNERSHIP added 172,601 shares (+inf%) to their portfolio in Q3 2024, for an estimated $3,141,338
- FOUNDRY PARTNERS, LLC removed 132,515 shares (-74.5%) from their portfolio in Q3 2024, for an estimated $2,411,773
- ALPHACENTRIC ADVISORS LLC added 91,980 shares (+inf%) to their portfolio in Q4 2024, for an estimated $1,544,344
- MILLENNIUM MANAGEMENT LLC added 78,350 shares (+405.1%) to their portfolio in Q3 2024, for an estimated $1,425,970
- CARLSON CAPITAL, L.P. removed 77,774 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $1,415,486
- SOUND INCOME STRATEGIES, LLC added 71,488 shares (+9.0%) to their portfolio in Q4 2024, for an estimated $1,200,283
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
WINTER PARK, Fla., Feb. 12, 2025 (GLOBE NEWSWIRE) -- Alpine Income Property Trust, Inc. (NYSE: PINE) (the “Company”) announced today that its Board of Directors approved a new common stock repurchase program (the “Program”). Under the Program, the Company may acquire shares of the Company’s common stock, $0.01 par value per share (“Common Stock”), in the open market, from time to time, in block trades, or otherwise, for a total purchase price of up to $10,000,000. The Program does not require the Company to repurchase any dollar amount or number of shares of Common Stock and may be suspended or discontinued at any time.
About Alpine Income Property Trust, Inc.
Alpine Income Property Trust, Inc. (NYSE: PINE) is a publicly traded real estate investment trust that seeks to deliver attractive risk-adjusted returns and dependable cash dividends by investing in, owning and operating a portfolio of single tenant net leased commercial income properties that are predominately leased to high-quality publicly traded and credit-rated tenants.
We encourage you to review our most recent investor presentation which is available on our website at http://www.alpinereit.com .
Contact: | Philip R. Mays | ||
Senior Vice President, Chief Financial Officer and Treasurer | |||
(407) 904-3324 | |||
[email protected] | |||
Safe Harbor
This press release may contain “forward-looking statements.” Forward-looking statements include statements that may be identified by words such as “could,” “may,” “might,” “will,” “likely,” “anticipates,” “intends,” “plans,” “seeks,” “believes,” “estimates,” “expects,” “continues,” “projects” and similar references to future periods, or by the inclusion of forecasts or projections. Forward-looking statements are based on the Company’s current expectations and assumptions regarding capital market conditions, the Company’s business, the economy and other future conditions. Because forward-looking statements relate to the future, by their nature, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. As a result, the Company’s actual results may differ materially from those contemplated by the forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include general business and economic conditions, continued volatility and uncertainty in the credit markets and broader financial markets, risks inherent in the real estate business, including tenant defaults, potential liability relating to environmental matters, credit risk associated with the Company investing in first mortgage investments, illiquidity of real estate investments and potential damages from natural disasters, the impact of epidemics or pandemics on the Company’s business and the businesses of its tenants and the impact of such epidemics or pandemics on the U.S. economy and market conditions generally, other factors affecting the Company’s business or the business of its tenants that are beyond the control of the Company or its tenants, and the factors set forth under “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024 and other risks and uncertainties discussed from time to time in the Company’s filings with the U.S. Securities and Exchange Commission. Any forward-looking statement made in this press release speaks only as of the date on which it is made. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.