Presidio Property Trust Announces Series D Preferred Stock Cash Dividend

Rhea-AI Summary

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.

Positive

• Declared a cash dividend of $0.19531 per share on Series D Preferred Stock.
• Dividend payment reinforces shareholder returns.

Negative

• Geographic clustering makes Presidio susceptible to local market conditions.
• Potential risks associated with COVID-19 affecting property performance.

SAN DIEGO, CA / ACCESSWIRE / July 20, 2021 / Presidio Property Trust, Inc. ("Presidio" or the "Company") (NASDAQ:SQFT)(NASDAQ:SQFTP), 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 July 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 $0.19531 per share on August 16, 2021, to shareholders of record of Series D Preferred Stock as of the dividend record date of July 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, Inc.

View source version on accesswire.com:
https://www.accesswire.com/656092/Presidio-Property-Trust-Announces-Series-D-Preferred-Stock-Cash-Dividend

FAQ

What is the dividend amount for SQFT and SQFTP in July 2021?

The dividend amount for SQFT and SQFTP is $0.19531 per share.

When will the dividend for SQFT and SQFTP be paid?

The dividend will be paid on August 16, 2021.

What is the record date for the July 2021 dividend for SQFT and SQFTP?

The record date for the dividend is July 30, 2021.

How does Presidio Property Trust's geographical concentration affect its operations?

Presidio's geographical clustering allows for operational efficiencies but increases its vulnerability to local market fluctuations.