Presidio Property Trust Announces Series D Preferred Stock Cash Dividend

Rhea-AI Summary

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.

Positive

• Dividend of $0.10417 per share represents a commitment to returning value to shareholders.
• The REIT's diversified holdings across multiple property types may mitigate risk.
• Strategic geographical clustering can lead to operational efficiency.

Negative

• The company is susceptible to regional market fluctuations, particularly influenced by COVID-19.
• Increased operational costs due to potential staffing issues in clustered locations.

SAN DIEGO, CA / ACCESSWIRE / June 24, 2021 / (NASDAQ:SQFT)(NASDAQ:SQFTP) Presidio Property Trust, Inc. ("Presidio" or the "Company"), an internally managed, diversified real estate investment trust ("REIT"), today announced today that its Board of Directors has authorized and the Company has declared the first dividend on its 9.375% Series D Cumulative Redeemable Perpetual Preferred Stock (the "Series D Preferred Stock") for the initial period from the issue date of June 15 to June 30, 2021.

In accordance with the terms of the Series D Preferred Stock, the Series D dividend will be payable in cash in the amount of $0.10417 per share on July 15, 2021, to shareholders of record of Series D Preferred Stock as of the dividend record date of June 30, 2021.

About Presidio Property Trust
Presidio is an internally managed, diversified REIT with holdings in office, industrial, and retail properties, and model home properties which are triple-net leased to homebuilders. Presidio's model homes are leased to homebuilders located primarily in Texas and Florida and its office, industrial and retail properties are located primarily in Colorado, with properties also located in North Dakota and in Southern California. While geographical clustering of real estate enables Presidio to reduce its operating costs through economies of scale by servicing a number of properties with less staff, it makes Presidio susceptible to changing market conditions in these discrete geographic areas, including those that have developed as a result of COVID-19. For more information on Presidio, please visit the Company's website at https://www.PresidioPT.com.

Cautionary Note Regarding Forward-Looking Statements
This press release contains statements that are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and other federal securities laws. Forward-looking statements are statements that are not historical, including statements regarding management's intentions, beliefs, expectations, representations, plans or predictions of the future, and are typically identified by such words as "believe," "expect," "anticipate," "intend," "estimate," "may," "will," "should" and "could." Because such statements include risks, uncertainties and contingencies, actual results may differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon the Company's present expectations, but these statements are not guaranteed to occur. Except as required by law, the Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes. Investors should not place undue reliance upon forward-looking statements. For further discussion of the factors that could affect outcomes, please refer to the "Risk Factors" section of the Company's documents filed with the SEC, copies of which are available on the SEC's website, www.sec.gov.

Investor Relations Contacts:

Presidio Property Trust, Inc.
Lowell Hartkorn, Investor Relations
LHartkorn@presidiopt.com
Telephone: (760) 471-8536 x1244

SOURCE: Presidio Property Trust

View source version on accesswire.com:
https://www.accesswire.com/652911/Presidio-Property-Trust-Announces-Series-D-Preferred-Stock-Cash-Dividend

FAQ

What is the dividend amount for Presidio Property Trust's Series D Preferred Stock?

The dividend amount is $0.10417 per share.

When will the dividend for Series D Preferred Stock be paid?

The dividend will be paid on July 15, 2021.

Who is eligible to receive the dividend for the Series D Preferred Stock?

Shareholders of record as of June 30, 2021, are eligible for the dividend.

What are the risks associated with investing in Presidio Property Trust?

Investors should consider regional market fluctuations, particularly due to COVID-19.