Presidio Property Trust Announces Series D Preferred Stock Cash Dividend

Rhea-AI Summary

Presidio Property Trust announced a cash dividend of $0.19531 per share on its 9.375% Series D Cumulative Redeemable Perpetual Preferred Stock for January 2022. The dividend will be paid on February 15, 2022, to shareholders of record as of January 31, 2022. This declaration demonstrates the company’s commitment to providing income to shareholders, amidst its diversified portfolio in real estate, primarily across Texas and Florida for model homes, and various properties in Colorado and other states.

Positive

• Company declared a cash dividend of $0.19531 per share on Series D Preferred Stock.
• Demonstrates commitment to shareholder returns and income generation.

Negative

• Geographical concentration of properties exposes the company to market condition risks, particularly due to COVID-19.

SAN DIEGO, CA / ACCESSWIRE / January 19, 2022 / (NASDAQ:SQFT; SQFTP) Presidio Property Trust, Inc. ("Presidio" or the "Company"), an internally managed, diversified real estate investment trust ("REIT"), today announced that its Board of Directors has authorized, and the Company has declared, a dividend on its 9.375% Series D Cumulative Redeemable Perpetual Preferred Stock (the "Series D Preferred Stock") for the month of January 2022.

In accordance with the terms of the Series D Preferred Stock, the January 2022 Series D dividend will be payable in cash in the amount of $0.19531 per share on February 15, 2022, to shareholders of record of Series D Preferred Stock as of the dividend record date of January 31, 2022.

About Presidio Property Trust

Presidio is an internally managed, diversified REIT with holdings in model home properties which are triple-net leased to homebuilders, office, industrial, and retail properties. Presidio's model homes are leased to homebuilders located primarily in Texas and Florida. Our office, industrial and retail properties are located primarily in Colorado, with properties also located in Maryland, North Dakota, Texas, and Southern California. While geographical clustering of real estate enables us to reduce our operating costs through economies of scale by servicing a number of properties with less staff, it makes us 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 Contact:

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

SOURCE: Presidio Property Trust, Inc.

View source version on accesswire.com:
https://www.accesswire.com/684445/Presidio-Property-Trust-Announces-Series-D-Preferred-Stock-Cash-Dividend

FAQ

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

The dividend amount declared is $0.19531 per share for January 2022.

When is the dividend payment date for Presidio's Series D Preferred Stock?

The dividend will be payable on February 15, 2022.

What is the record date for the dividend on Presidio's Series D Preferred Stock?

The record date for the dividend is January 31, 2022.

What types of properties does Presidio Property Trust invest in?

Presidio invests in model homes, office, industrial, and retail properties, primarily in Texas, Florida, and Colorado.

What risks does Presidio Property Trust face due to its property locations?

The company is susceptible to changing market conditions, especially in geographic areas affected by COVID-19.