Generation Incom Stock Price, News & Analysis

Generation Income Properties (OTCQB:GIPR) reported first-quarter 2021 results, with revenues of approximately $937,000, up 6% year-over-year. The portfolio remained 100% occupied, with all tenants paying on time. Despite a net loss of $322,000, improved Core Funds from Operations (Core FFO) reached approximately $134,000, up from $76,000 in the previous year. Operating expenses rose slightly to $1.26 million, with costs allocated to GAO and depreciation increasing.

As of March 31, 2021, cash on hand was roughly $0.7 million.

Generation Income Properties, Inc. (OTCQB:GIPR) announced the acquisition of a 7,800 SF office building in Plant City, Florida, for approximately $1.7 million. The property, occupied by Irby Construction Company, has an investment-grade credit rating of BBB- from Standard and Poor's. GIP funded the transaction with $850K in debt and $900K from a Joint Venture Partner. The tenant has about 3.5 years left on the lease. CEO David Sobelman expressed optimism about the acquisition, highlighting their focus on investment-grade tenants and strong partnerships.

Generation Income Properties, Inc. (OTCQB:GIPR) announced a twelve-month lease extension with Maersk Line Limited at its Norfolk, Virginia office building. The lease now expires on December 31, 2022, with an option to renew for five years. Maersk occupies 22,247 square feet, and the extension includes a 3% annual rental increase, generating approximately $387K in annual rental income. This lease reflects Maersk's ongoing commitment to the location, supporting GIPR's business stability and revenue growth.

Generation Income Properties announced the restructuring of two loans totaling approximately $12.8 million, which includes a $7.5 million loan for a property occupied by GSA and Maersk, and a $5.3 million loan for a property occupied by PRA Group Inc. The restructuring reduced the interest rates from 4.25% to 3.5%, resulting in annual savings of approximately $66,000. The company aims to enhance future returns by leveraging the low-interest rate environment.

Generation Income Properties, Inc. (OTCQB:GIPR) announced a quarterly cash distribution of $0.325 per share for shareholders of record as of March 15, 2021. This payment is anticipated to be disbursed on or around March 22, 2021. As a real estate investment trust, GIPR focuses on acquiring and managing freestanding, single-tenant commercial properties across major U.S. cities. Investors are advised to consider potential risks and uncertainties related to forward-looking statements in the press release.

Generation Income Properties, Inc. (GIPR) announced a definitive Purchase and Sale Agreement to acquire a 7,800 square foot office building in Plant City, Florida for approximately $1.7 million. The property is fully leased to Irby Construction Company, backed by a guarantee from Quanta Services Inc., which has an investment-grade credit rating of BBB-. This acquisition, expected to be funded through a mix of debt and equity, is part of GIP's strategy to enhance its portfolio with credit-worthy tenants at attractive cap rates.

Generation Income Properties (OTCQB:GIPR) has acquired a 5,800-square-foot single-tenant office building in North Carolina for $1.7 million, occupied by a Federal law enforcement agency. The transaction was funded through $1.27 million in debt from American Momentum Bank and $500,000 in preferred equity from a Joint Venture Partner. With an AA+ credit rating from Standard & Poor's, the tenant has 8 years remaining on the lease. This acquisition enhances GIP's portfolio to 80% investment-grade tenancy, reflecting its strategy to target strong tenants.

Generation Income Properties (OTCQB:GIPR) has successfully closed its acquisition of a 2,500-square-foot Sherwin Williams building in Tampa, Florida for approximately $1.78 million. The funding includes $1.29 million in debt from Valley National Bank and the issuance of 24,309 partnership units. The property, occupied by Sherwin Williams, holds a BBB credit rating with about 7.5 years remaining on the lease. CFO Rick Russell noted the ongoing interest in the UPREIT structure as beneficial for property acquisition.

Generation Income Properties (OTCQB:GIPR) reported a significant revenue increase of 216% in Q2 2020, totaling approximately $877,604, attributed to three new revenue-generating properties acquired in September 2019. The company maintained 100% portfolio occupancy and received all tenant rents on time. Core Funds from Operations (Core FFO) improved to $135,000 from a negative $196,000 a year prior. Despite a net loss of approximately $243,000, this was a marked improvement from the previous year's loss of $603,000. The company has approximately $1.0 million in cash as of June 30, 2020.