Welcome to our dedicated page for Presidio Property news (Ticker: SQFTP), a resource for investors and traders seeking the latest updates and insights on Presidio Property stock.
Presidio Property Trust, Inc. is a self-managed real estate investment trust that specializes in a diverse multi-tenant portfolio of real estate assets. Their holdings include model home properties leased to homebuilders in Arizona, Illinois, Texas, Wisconsin, and Florida, as well as office, industrial, and retail properties primarily located in Colorado, with additional properties in Maryland, North Dakota, Texas, and Southern California.
The company is internally managed and aims to deliver value to its shareholders through strategic investments and a commitment to operational excellence. With a focus on generating consistent income and long-term growth, Presidio Property Trust, Inc. continues to expand its portfolio and explore new opportunities in the real estate market.
Presidio Property Trust (NASDAQ: SQFT) announced the successful closing of a public offering of 109,054 shares of its 9.375% Series D Cumulative Redeemable Perpetual Preferred Stock at $16.00 per share. The offering raised approximately $1.74 million in gross proceeds, before underwriting discounts and expenses. The Benchmark Company, acted as the sole bookrunning manager for this offering. The Series D Preferred Stock offering was registered with the SEC on April 26, 2024, and declared effective on May 17, 2024. Final prospectus supplements are available on the SEC's website or from The Benchmark Company.
Presidio Property Trust (NASDAQ: SQFT) announced that Conduit Pharmaceuticals (NASDAQ: CDT), of which Presidio owns 6.3%, will be added to the Russell 2000 Index on July 1, 2024. This inclusion is part of the annual reconstitution of the Russell indexes, which ranks the largest US stocks by market capitalization as of April 30 each year. Being part of the Russell 2000 and Russell 3000 indexes will elevate Conduit's visibility among investment managers and institutional investors. The Russell US Indexes are benchmarks for $10.5 trillion in assets as of December 2023.
Presidio Property Trust, Inc. has reached a cooperation agreement with Zuma Capital Management, appointing Elena Piliptchak to the board of directors. The Zuma Investor Group that holds 7.6% of Presidio's outstanding stock has agreed to certain provisions, enhancing corporate governance and stockholder value.
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