Business
Generation Income Properties Announces Year End 2024 Financial and Operating Results
TAMPA, FLORIDA / ACCESS Newswire / April 1, 2025 / Generation Income Properties, Inc. (NASDAQ:GIPR) ("GIPR" or the "Company") today announced its three and twelve month financial and operating results for the period ended December 31, 2024. Annual ...
About this update from Generation Income Properties Inc.
[{"type":"text","content":"TAMPA, FLORIDA / ACCESS Newswire / April 1, 2025 / Generation Income Properties, Inc. (NASDAQ:GIPR) ("GIPR" or the "Company") today announced its three and twelve month financial and operating results for the period ended December 31, 2024.","length":260,"tagName":"p"},{"type":"text","content":"Annual Highlights","length":17,"tagName":"p"},{"type":"text","content":"(For the 12 months ended December 31, 2024)","length":43,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Generated net loss attributable to GIP common shareholders of $8.44 million, or ($1.64) per basic and diluted share.","length":116,"tagName":"p"}]},{"val":[{"type":"text","content":"Generated Core FFO of $179 thousand, or $0.03 per basic and diluted share.","length":74,"tagName":"p"}]},{"val":[{"type":"text","content":"Generated Core AFFO of $373 thousand, or $0.07 per basic and diluted share.","length":75,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":265,"olType":false},{"type":"text","content":"FFO and related measures (such as Core FFO and Core AFFO) are supplemental non-GAAP financial measures used in the real estate industry to measure and compare the operating performance of real estate companies. A complete reconciliation containing adjustments from GAAP net income to Core FFO and Core AFFO is included at the end of this release.","length":346,"tagName":"p"},{"type":"text","content":"Portfolio","length":9,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Approximately 60% of our portfolio's annualized rent as of December 31, 2024 was derived from tenants that have (or whose parent company has) an investment grade credit rating from a recognized credit rating agency of "BBB-" or better. Our largest tenants are the General Service Administration, Dollar General, and the City of San Antonio, who collectively contributed approximately 39% of our portfolio's annualized base rent as of December 31, 2024.","length":470,"tagName":"p"}]},{"val":[{"type":"text","content":"Our portfolio is 99% leased and occupied and tenants are currently 100% rent paying.","length":84,"tagName":"p"}]},{"val":[{"type":"text","content":"Approximately 93% of the leases in our current portfolio (based on ABR as of December 31, 2024) provide for increases in contractual base rent during fu...