abrdn Property Income Trust (LON:API) Trading Down 85% – Here’s Why

Posted by Jim Brewer on Dec 17th, 2024

abrdn Property Income Trust Limited (LON:API – Get Free Report)’s share price was down 85% during trading on Tuesday . The stock traded as low as GBX 8.34 ($0.11) and last traded at GBX 9.10 ($0.12). Approximately 1,307,502 shares were traded during mid-day trading, a decline of 28% from the average daily volume of 1,812,638 shares. The stock had previously closed at GBX 60.80 ($0.77).

abrdn Property Income Trust Stock Performance

The company’s 50-day moving average price is GBX 60.91 and its two-hundred day moving average price is GBX 56.82. The company has a market cap of £33.97 million, a P/E ratio of -3,025.00 and a beta of 0.33. The company has a current ratio of 3.47, a quick ratio of 0.16 and a debt-to-equity ratio of 47.99.

abrdn Property Income Trust Increases Dividend

The firm also recently announced a dividend, which will be paid on Tuesday, December 24th. Investors of record on Tuesday, December 17th will be issued a dividend of GBX 52 ($0.66) per share. This represents a yield of 85.81%. This is a boost from abrdn Property Income Trust’s previous dividend of $3.00. The ex-dividend date of this dividend is Tuesday, December 17th. abrdn Property Income Trust’s dividend payout ratio (DPR) is presently -20,000.00%.

Insiders Place Their Bets

In related news, insider Jill May sold 128,592 shares of the stock in a transaction on Friday, October 11th. The stock was sold at an average price of GBX 61 ($0.77), for a total value of £78,441.12 ($99,519.31). 3.21% of the stock is currently owned by company insiders.

abrdn Property Income Trust Company Profile

(Get Free Report)

The objective of abrdn Property Income Trust Limited is to provide shareholders with an attractive level of income together with the prospect of income and capital growth. The Board intends to achieve the investment objective by investing in a diversified portfolio of UK commercial properties in the industrial, office, retail and other' sectors, where other' includes leisure, data centres, student housing, hotels (and apart-hotels) and healthcare.