Presidio Property Trust Announces Series D Preferred Stock Cash Dividend

Rhea-AI Summary

Presidio Property Trust has declared dividends for its 9.375% Series D Cumulative Redeemable Perpetual Preferred Stock for November and December 2021. The dividend amounts to $0.19531 per share, payable on December 15, 2021, for November to shareholders on record as of November 30, 2021, and on January 18, 2022, for December to those on record as of December 31, 2021. This dividend declaration showcases Presidio's commitment to rewarding its investors amidst a challenging real estate market, particularly focusing on its diversified properties mainly located in Texas, Florida, and Colorado.

Positive

• Declaration of a cash dividend of $0.19531 per share for Series D Preferred Stock for November and December 2021.
• Demonstrates company confidence in maintaining shareholder returns.
• Focus on diversified real estate holdings which may weather market fluctuations.

Negative

• Susceptibility to changing market conditions, particularly due to geographic concentration of properties.
• Potential risks associated with COVID-19 impact on real estate performance.

SAN DIEGO, CA / ACCESSWIRE / November 16, 2021 / (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 November 2021 and December 2021.

In accordance with the terms of the Series D Preferred Stock, the November Series D dividend will be payable in cash in the amount of $0.19531 per share on December 15, 2021, to shareholders of record of Series D Preferred Stock as of the dividend record date of November 30, 2021. The December Series D dividend will be payable in cash in the amount of $0.19531 per share on January 18, 2022, to shareholders of record of Series D Preferred Stock as of the dividend record date of December 31, 2021

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 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

View source version on accesswire.com:
https://www.accesswire.com/673220/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 $0.19531 per share.

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

The November dividend will be paid on December 15, 2021, and the December dividend on January 18, 2022.

What are the record dates for the dividends?

The record dates are November 30, 2021, for the November dividend and December 31, 2021, for the December dividend.

How does Presidio Property Trust's dividend sustainability look?

The company shows commitment to dividends; however, market condition susceptibility could pose risks.