Consolidated Tomoka Land Company, a major owner at Alpine Income Property Trust (PINE), recently added 5,400 shares. The buy increased the fund’s stake by 0.6 percent, and came to a total cost just over $95,300.
This adds to other buys made by the fund throughout the year. Additionally, a company SVP has picked up shares back in March. Over the past three years, insiders have been exclusively buyers of shares, with no insider sales.
Overall, company insiders own 8.5 percent of shares, and institutional investors own another 58 percent of the stock.
The commercial property REIT is down about 5 percent in the past year. Revenue is up 71 percent over the past year, as rents have been on the rise. Yet shares trade below their book value today.
Action to take: As a REIT, investors can get a high current dividend yield, currently at 6.2 percent. The dividend has been recently raised. Shares of REITS are generally a good buy under their book value, so investors may have a few months to get into a position now.
For traders, options are limited. But the February $17.50 calls are an at-the-money trade, and are currently going for about $1.60. Traders may be able to get the options a bit more cheaply in the coming weeks if shares decline more.
Disclosure: The author of this article has no position in the company mentioned here, but may trade after the next 72 hours. The author receives no compensation from any of the companies mentioned in this article.