Presidio Property Trust Declares Third-Quarter 2021 Dividend

Rhea-AI Summary

Presidio Property Trust (NASDAQ:SQFT, SQFTP) announced a cash dividend of $0.103 per share on its Series A Common Stock for Q3 2021, marking the third consecutive quarterly dividend increase since its IPO in October 2020. The dividend will be paid on September 21, 2021, to shareholders on record as of September 7, 2021. Presidio is a diversified real estate investment trust specializing in model home, office, industrial, and retail properties primarily located in Texas, Florida, and Colorado.

Positive

• Declared a cash dividend of $0.103 per share, upholding commitment to shareholders.
• Third consecutive quarterly dividend increase since IPO, indicating growth and stability.

Negative

• Susceptibility to changing market conditions, particularly due to geographical clustering of properties.

SAN DIEGO, CA / ACCESSWIRE / August 25, 2021 / (NASDAQ:SQFT)(NASDAQ: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 ofPresidio Property Trust, Inc. has declared a cash dividend of $0.103 per share on its Series A Common Stock for the third quarter of 2021. This is the third consecutive quarterly dividend increase since Presidio Property's initial public offering in October of 2020.

The dividend will be payable on September 21, 2021 to all stockholders of record as of the close of business on September 7, 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 and in 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. Furthermore, 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 Annual Report on Form 10-K filed with the SEC on March 30, 2021 and in the Company's other 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/661169/Presidio-Property-Trust-Declares-Third-Quarter-2021-Dividend

FAQ

What is the dividend amount declared by Presidio Property Trust for Q3 2021?

The declared dividend amount is $0.103 per share on its Series A Common Stock.

When is the dividend payment date for the third quarter of 2021?

The dividend will be payable on September 21, 2021.

What is the significance of the third consecutive dividend increase for Presidio Property Trust?

It indicates the company's growth and commitment to returning value to shareholders since its IPO in October 2020.

How does Presidio Property Trust's geographical focus affect its business?

Presidio's focus on specific regions makes it susceptible to changing market conditions, especially influenced by COVID-19.