Generation Income Properties, Inc. (NASDAQ:GIPR – Get Rating) was the target of a large decline in short interest in December. As of December 30th, there was short interest totalling 5,300 shares, a decline of 69.9% from the December 15th total of 17,600 shares. Approximately 0.3% of the company's stock are sold short. Based on an average daily volume of 14,100 shares, the days-to-cover ratio is presently 0.4 days.
Insider Activity
In other Generation Income Properties news, CEO David Sobelman purchased 10,000 shares of Generation Income Properties stock in a transaction dated Tuesday, December 13th. The stock was acquired at an average price of $4.99 per share, for a total transaction of $49,900.00. Following the acquisition, the chief executive officer now owns 130,932 shares in the company, valued at approximately $653,350.68. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 9.20% of the company's stock.
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Institutional Inflows and Outflows
A hedge fund recently bought a new stake in Generation Income Properties stock. Virtu Financial LLC bought a new position in shares of Generation Income Properties, Inc. (NASDAQ:GIPR – Get Rating) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 15,014 shares of the company's stock, valued at approximately $90,000. Virtu Financial LLC owned about 0.66% of Generation Income Properties at the end of the most recent quarter. 12.29% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Separately, EF Hutton Acquisition Co. I cut their price objective on shares of Generation Income Properties from $8.00 to $7.00 and set a "buy" rating on the stock in a research report on Wednesday, November 16th.
Generation Income Properties Stock Up 1.8 %
Shares of Generation Income Properties stock traded up $0.09 on Tuesday, reaching $5.22. The stock had a trading volume of 18,707 shares, compared to its average volume of 10,781. The company has a 50 day moving average price of $4.98 and a 200 day moving average price of $5.65. The company has a quick ratio of 7.92, a current ratio of 7.92 and a debt-to-equity ratio of 2.87. Generation Income Properties has a 1 year low of $4.66 and a 1 year high of $7.85. The stock has a market capitalization of $13.03 million, a P/E ratio of -2.23 and a beta of -0.14.
Generation Income Properties Announces Dividend
The company also recently disclosed a monthly dividend, which will be paid on Thursday, March 30th. Stockholders of record on Wednesday, March 15th will be given a $0.039 dividend. This represents a $0.47 dividend on an annualized basis and a dividend yield of 8.97%. The ex-dividend date of this dividend is Tuesday, March 14th. Generation Income Properties's payout ratio is currently -20.09%.
About Generation Income Properties
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Generation Income Properties (GIP) is a Real Estate Investment Trust based in Tampa, Florida that specializes in acquiring a diversified portfolio of high quality single tenant properties. Our portfolio consists of office, industrial and retail assets across the United States occupied by primarily investment grade credit tenants.
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- Get a free copy of the StockNews.com research report on Generation Income Properties (GIPR)
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