Presidio Property Trust, Inc. 9.375% Series D Cumulative Redeemable Perpetual Preferred Stock, $0.01 par value per share - SQFTP STOCK NEWS

Presidio Property Trust, Inc. has declared dividends on its Series D Preferred Stock for July, August, and September 2023. The dividends will be payable in cash to shareholders of record on specific dates.

Presidio Property Trust, Inc. reported a net loss of $(1,530,988), or $(0.13) per share for Q1 2023, compared to a net income of $(3,824,053), or $(0.32) per share for Q1 2022. The decrease in net income was due to a decrease in Series A Warrant Dividends, a decrease in rental revenue, and the expiration of a major tenant lease. The Company has already entered into a lease agreement for a new tenant and expects increases in rental revenue. FFO increased by approximately $2.5 million, while Core FFO increased by about $110,000. The Company acquired nine model home properties and sold three properties during the quarter.

Presidio Property Trust, Inc. has announced the refinancing of the mortgage loan on its Grand Pacific Center property and the securing of a construction loan for tenant improvements. The refinanced loan is for $3.8 million with an interest rate of 6.35% for the first 60 months. The construction loan is for $2.7 million with an interest rate of 6.35% for the first 60 months.

Presidio Property Trust (SQFT, SQFTP) announced significant developments in its first quarter 2023 report. The company acquired 9 new single-family model home properties across Arizona, Florida, Illinois, Texas, and Wisconsin, which are leased back to homebuilders on a triple-net basis. In addition, Presidio sold 3 model homes for approximately $1.6 million, realizing a gain of $393,000. The average purchase price was roughly $380,000, while the average sales price reached around $540,000. Management expressed confidence in the model home resale performance, highlighting anticipated growth from strategic property acquisitions, and aims to strengthen homebuilder relationships throughout 2023.

Presidio Property Trust (NASDAQ:SQFT, SQFTP, SQFTW) announced the declaration of dividends for its 9.375% Series D Cumulative Redeemable Perpetual Preferred Stock for the months of April, May, and June 2023. The April dividend of $0.19531 per share will be payable on May 15, 2023, to shareholders on record as of April 30, 2023. Similarly, the May dividend is scheduled for June 15, 2023, and the June dividend on July 17, 2023, both with the same payout amount. Presidio operates a diversified portfolio, focusing on model home properties primarily in Texas and Florida, and additional office and retail spaces across the U.S. The company also sponsors the SPAC Murphy Canyon Acquisition Corp. (NASDAQ: MURF), holding approximately $23.7 million in trust.

Presidio Property Trust (NASDAQ:SQFT, SQFTP) reported its 2022 earnings, facing challenges in the real estate market but leveraging its diversified portfolio. Key highlights include:

• Net loss of approximately $(780,067) for Q4 2022, down from a net income of $(1,501,162) in Q4 2021.
• Increased Other Income by $1.2 million driven by Murphy Canyon Acquisition Corp. Trust.
• FFO rose to $132,000 in Q4 2022, an increase from $62,000 the previous year.
• Acquired 31 model home properties for $15.6 million in 2022.
• Dividends paid throughout 2022 totaled $2.34372 per share for Series D preferred stock.