3 Reasons I Just Bought Alpine Income Property Trust

Alpine Income Property Trust (NYSE: PINE) is a real estate investment trust (REIT) with a market cap of just $200 million, which is much smaller than what I usually go with when buying any stock. I generally prefer diversified names as well, and this REIT is focused on retail properties. In other words, I just broke some of my own big rules to buy Alpine. I didn't make that choice lightly, though. Here are the three reasons for this uncharacteristic move.

I own W.P. Carey (NYSE: WPC), one of the largest and most diversified (sector-wise and geographically) net lease REITs around. I also owned VEREIT, which was just bought by Realty Income (NYSE: O), creating a huge net lease REIT with heavy exposure to retail properties, a little bit of industrial, and a growing foreign presence. I'm fond of the net lease approach in which these landlords own single-tenant properties while the tenant is responsible for most of the operating costs. Generally, it's a low-risk approach.

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