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

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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.

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Presidio Property Trust approves cash dividend of $0.023 per share for Q3 2023.
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Presidio Property Trust establishes Special Committee to explore potential strategic alternatives.
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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.
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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.
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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.
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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.

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FAQ

What is the current stock price of Presidio Property Trust 9.375% Series D Cumulative Redeemable Perpetual Preferred Stock, $0.01 par value per share (SQFTP)?

The current stock price of Presidio Property Trust 9.375% Series D Cumulative Redeemable Perpetual Preferred Stock, $0.01 par value per share (SQFTP) is $13.9101 as of December 23, 2024.

What is Presidio Property Trust, Inc.?

Presidio Property Trust, Inc. is a self-managed real estate investment trust that invests in a diverse multi-tenant portfolio of real estate assets.

What types of properties does Presidio Property Trust, Inc. hold?

Presidio Property Trust, Inc. holds model home properties leased to homebuilders in various states, as well as office, industrial, and retail properties primarily located in Colorado.

Where are Presidio's model homes leased to homebuilders located?

Presidio's model homes are leased to homebuilders in Arizona, Illinois, Texas, Wisconsin, and Florida.

What is the focus of Presidio Property Trust, Inc.?

The company aims to deliver value to its shareholders through strategic investments and operational excellence, focusing on generating consistent income and long-term growth.

How is Presidio Property Trust, Inc. managed?

Presidio Property Trust, Inc. is internally managed.

What is the contact information for investor relations at Presidio Property Trust, Inc.?

For investor relations inquiries, contact Lowell Hartkorn at LHartkorn@presidiopt.com or (760) 471-8536 x1244.

What is the approach of Presidio Property Trust, Inc. towards shareholder value?

Presidio Property Trust, Inc. aims to deliver shareholder value through strategic investments and a commitment to operational excellence.

In which states are Presidio's office, industrial, and retail properties located?

Presidio's office, industrial, and retail properties are primarily located in Colorado, with additional properties in Maryland, North Dakota, Texas, and Southern California.

What is the investment strategy of Presidio Property Trust, Inc.?

Presidio Property Trust, Inc. focuses on expanding its portfolio and exploring new opportunities in the real estate market to drive long-term growth.

How does Presidio Property Trust, Inc. generate income for its shareholders?

Presidio Property Trust, Inc. aims to generate consistent income for its shareholders through its diverse real estate portfolio and strategic investments.

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

Nasdaq:SQFTP

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916.06k
REIT - Diversified
Real Estate Investment Trusts
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United States of America
SAN DIEGO