Presidio Property Trust Expected to Resume Trading on Nasdaq on October 8, 2020
On October 7, 2020, Presidio Property Trust, Inc. (NASDAQ:SQFT) experienced a temporary trading pause due to a technical issue related to its Series A Common Stock's CUSIP number. Nasdaq confirmed that this issue is resolved, and trading is set to resume on October 8, 2020. All trades made on October 7 will be honored. Presidio's diverse commercial real estate portfolio includes approximately 1.1 million square feet across 15 properties in various states, allowing for efficient management and reduced operating costs.
- Trading for Presidio's stock is set to resume the next day following a prompt resolution of the technical issue.
- The diverse real estate portfolio, consisting of 10 office, 1 industrial, and 4 retail properties, enhances operational efficiency.
- The trading interruption may affect investor confidence and perception of operational reliability.
Technical issue led to temporary pause in trading
SAN DIEGO, CA / ACCESSWIRE / October 7, 2020 / Presidio Property Trust, Inc. (NASDAQ:SQFT) (Presidio), an internally managed, diversified real estate investment trust, announced that shares of its Series A Common Stock are expected resume trading tomorrow morning, October 8, 2020, following a technical issue that occurred on October 7, 2020, the first day of Presidio's trading on the Nasdaq Stock Market (Nasdaq).
On October 7, 2020, trading in Presidio's stock was temporarily paused by Nasdaq due to a technical issue relating to the security identifier number (or CUSIP) of the Series A Common Stock. Presidio has been informed by Nasdaq that the technical issue has been resolved and that trading will recommence on October 8, 2020 and that all trades in Presidio's stock that occurred on October 7, 2020 will be honored. The CUSIP number for Presidio's Series A Common Stock is 74102L 303.
About Presidio Property Trust
Presidio is an internally managed, diversified REIT. Our commercial real estate portfolio consists of approximately 1.1 million square feet comprised of 10 office properties, one industrial property and four retail properties. Our commercial portfolio is located in Southern California, Colorado, and North Dakota, and we are currently considering new commercial property acquisitions in a variety of additional markets across the United States. Our commercial property tenant base is diversified, which helps limit our exposure to any single industry in which our tenants operate. Additionally, we own 132 model home properties located in seven states, with the majority located in Texas and Florida. This geographical clustering of our real estate portfolio enables us to minimize operating costs and leverage efficiencies by managing a number of properties utilizing minimal overhead and staff. 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 constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including with respect to the proposed initial public offering as well as Presidio's plans and strategies as described herein. No assurance can be given that the offering discussed above will be completed on the terms described, or at all. Readers are cautioned that forward-looking statements (which can be identified by words such as "may," "will," "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters) are subject to numerous risks and conditions, many of which are beyond Presidio's control, including those set forth in the "Risk Factors" section of Presidio's registration statement and preliminary prospectus for the offering filed with the SEC. Copies are available on the SEC's website, www.sec.gov. The statements in this press release represent Presidio's views only as of the date they are made and should not be relied upon as representing Presidio's views as of any subsequent date. Presidio undertakes no obligation to update these statements for revisions or changes after the date of this press release, except as required by law.
Investor Relations Contact:
Presidio Property Trust, Inc.
Lowell Hartkorn, Investor Relations
LHartkorn@presidiopt.com
Telephone: +1 (866) 781-7721 x244
SOURCE: Presidio Property Trust, Inc.
View source version on accesswire.com:
https://www.accesswire.com/609688/Presidio-Property-Trust-Expected-to-Resume-Trading-on-Nasdaq-on-October-8-2020
FAQ
What caused the trading pause for SQFT on October 7, 2020?
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