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

Shares of abrdn Property Income Trust Limited (LON:API) fell 85% on Tuesday . The company traded as low as GBX 8.34 ($0.10) and last traded at GBX 9.10 ($0.11). 1,307,502 shares traded hands during trading, a decline of 28% from the average session volume of 1,812,638 shares. The stock had previously closed at GBX 60.80 ($0.76).

abrdn Property Income Trust Stock Down 30.2 %

The firm has a 50 day moving average of GBX 58.83 and a 200-day moving average of GBX 56.24. The company has a debt-to-equity ratio of 47.99, a current ratio of 3.47 and a quick ratio of 0.16. The stock has a market capitalization of £24.93 million, a P/E ratio of -327.00 and a beta of 0.33.

abrdn Property Income Trust Increases Dividend

The business also recently disclosed a dividend, which will be paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 17th will be issued a dividend of GBX 52 ($0.65) per share. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a yield of 85.81%. This is a positive change from abrdn Property Income Trust’s previous dividend of $3.00. abrdn Property Income Trust’s dividend payout ratio is currently -20,000.00%.

Insider Transactions at abrdn Property Income Trust

In related news, insider Jill May sold 128,592 shares of the firm’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of GBX 61 ($0.77), for a total transaction of £78,441.12 ($98,618.46). Corporate insiders own 3.21% of the company’s stock.

About abrdn Property Income Trust

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.