Generation Income Properties cut to Hold at Maxim, no dividend coverage expected

Maxim downgraded Generation Income Properties to Hold from Buy with no price target. The analyst states that the firm does not expect dividend coverage from the company in 2023, with a dividend cut a possibility if no acquisitions are made. Generation Income Properties was unable to fully deploy the proceeds from its equity raise before the net lease market suffered a material dislocation in Q2 due to significant Fed rate hikes, Maxim tells investors in a research note.