Presidio Ppty Tr Inc Stock Price, News & Analysis

Presidio Property Trust has completed an all-cash acquisition of a Kiddie Academy location in Houston, Texas. This strategic purchase aligns with the company’s growth objectives, leveraging non-discretionary spending trends in the area. The asset features a triple-net lease structure, ensuring steady cash flow with annual rent increases over a 15-year period. The recent construction of the property is anticipated to minimize future capital expenditures. The acquisition is expected to enhance Presidio's diversified real estate portfolio, focusing on stability and growth in a robust market.

Presidio Property Trust has declared a cash dividend of $0.19531 per share on its 9.375% Series D Cumulative Redeemable Perpetual Preferred Stock for August 2021. The dividend will be paid on September 15, 2021, to shareholders on record as of August 31, 2021. As a diversified REIT, Presidio holds properties primarily in Texas, Florida, Colorado, North Dakota, and Southern California. The company aims to leverage geographical clustering for operational efficiency but acknowledges vulnerability to local market fluctuations, particularly from COVID-19.

On August 10, 2021, Presidio Property Trust (Nasdaq: SQFT, SQFTP) reported its second-quarter earnings for 2021, highlighting strong rent collections and notable capital raises. The company raised $23 million in preferred equity and $10 million in common equity and warrants. Core FFO for Q2 was approximately $737,000, or $0.08 per share, while net income was about $754,203, a significant increase from a net loss of $1.9 million in Q2 2020. The company signed 12 leases, generating an additional $633,000 in annual rental revenue.

Presidio Property Trust will release its financial results for the quarter ending June 30, 2021, after market close on August 10, 2021. A conference call is scheduled for 1:30 PM PT on the same day, allowing investors to discuss these results. The call details include a toll-free number for participation and a replay option available until August 24, 2021. Presidio, a diversified real estate investment trust (REIT), owns properties primarily in Texas, Florida, and Colorado. Investors are encouraged to review the company's website for further information.

Presidio Property Trust has declared a dividend of $0.19531 per share on its 9.375% Series D Cumulative Redeemable Perpetual Preferred Stock for July 2021. This dividend will be paid in cash on August 16, 2021, to shareholders on record as of July 30, 2021. Presidio, an internally managed REIT, holds diversified properties across various sectors including office, industrial, and retail, primarily in Texas, Florida, Colorado, North Dakota, and Southern California. The company's operational efficiency relies on geographical clustering.

Presidio Property Trust announced the closing of a registered direct offering totaling 1,000,000 shares of Series A common stock, along with warrants and pre-funded warrants. The offering price was set at $5.00 per share for common stock plus warrants and $4.99 for common stock plus pre-funded warrants. The net proceeds are expected to be approximately $9.1 million, intended for working capital and potential property acquisitions. A.G.P./Alliance Global Partners acted as placement agent. The offering was conducted under an effective shelf registration statement.

Presidio Property Trust (NASDAQ: SQFT) announced a $10 million registered direct offering of 1,000,000 shares of Class A common stock and accompanying warrants. The shares are priced at $5.00, with warrants allowing purchase up to 2,000,000 shares at $5.50 each. The offering also includes pre-funded warrants for 1,000,000 shares at $4.99. The transaction is expected to close around July 14, 2021. A.G.P./Alliance Global Partners acts as the placement agent for this offering, which follows SEC guidelines and includes a prospectus supplement.

Presidio Property Trust has declared a dividend of $0.10417 per share on its 9.375% Series D Cumulative Redeemable Perpetual Preferred Stock, to be paid on July 15, 2021. This dividend covers the initial period from the issue date of June 15 to June 30, 2021. Shareholders of record as of June 30, 2021 will be eligible for this payment. The company is classified as a diversified real estate investment trust (REIT) with properties mainly located in Texas, Florida, Colorado, North Dakota, and Southern California.

Presidio Property Trust has announced that underwriters fully exercised their over-allotment option, purchasing an additional 120,000 shares of 9.375% Series D Cumulative Redeemable Perpetual Preferred Stock for gross proceeds of $3.0 million. This brings total proceeds from the offering to $23.0 million from 920,000 shares sold. The funds will be used for general corporate purposes, including potential property acquisitions. The Series D Preferred Stock began trading on the Nasdaq on June 11, 2021, under the symbol SQFTP.