Generation Income Properties, Inc. (NASDAQ:GIPR – Get Rating) was the recipient of a significant growth in short interest in December. As of December 15th, there was short interest totalling 17,600 shares, a growth of 3,420.0% from the November 30th total of 500 shares. Based on an average daily volume of 15,800 shares, the short-interest ratio is currently 1.1 days. Approximately 0.9% of the company's stock are sold short.
Insider Buying and Selling
In related news, CEO David Sobelman purchased 10,000 shares of Generation Income Properties stock in a transaction on Tuesday, December 13th. The stock was bought at an average price of $4.99 per share, with a total value of $49,900.00. Following the completion of the transaction, the chief executive officer now directly owns 130,932 shares of the company's stock, valued at $653,350.68. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 9.20% of the stock is currently owned by corporate insiders.
Get Generation Income Properties alerts:Institutional Trading of Generation Income Properties
A hedge fund recently bought a new stake in Generation Income Properties stock. Virtu Financial LLC acquired a new stake in Generation Income Properties, Inc. (NASDAQ:GIPR – Get Rating) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 15,014 shares of the company's stock, valued at approximately $90,000. Virtu Financial LLC owned approximately 0.66% of Generation Income Properties as of its most recent SEC filing. 12.29% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Separately, EF Hutton Acquisition Co. I reduced their price objective on shares of Generation Income Properties from $8.00 to $7.00 and set a "buy" rating for the company in a research note on Wednesday, November 16th.Generation Income Properties Price Performance
Shares of NASDAQ:GIPR opened at $4.77 on Thursday. The firm has a market capitalization of $11.91 million, a PE ratio of -2.04 and a beta of -0.18. The company has a current ratio of 7.92, a quick ratio of 7.92 and a debt-to-equity ratio of 2.87. The business's 50 day moving average is $5.01 and its 200-day moving average is $5.79. Generation Income Properties has a 1-year low of $4.69 and a 1-year high of $7.85.
Generation Income Properties Announces Dividend
The firm also recently announced a monthly dividend, which will be paid on Friday, December 30th. Stockholders of record on Thursday, December 15th will be issued a dividend of $0.039 per share. This represents a $0.47 annualized dividend and a dividend yield of 9.81%. The ex-dividend date of this dividend is Wednesday, December 14th. Generation Income Properties's payout ratio is presently -20.09%.
Generation Income Properties Company Profile
(Get Rating)
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.
Read More
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