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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 (NASDAQ:SQFT; SQFTP) announced a correction regarding the record date for its first-quarter 2023 dividend. The cash dividend of $0.022 per share remains unchanged. The new record date is set for the close of business on March 30, 2023, with the payment date scheduled for March 31, 2023. The correction was made after an earlier release mistakenly listed the record date as March 27, 2023. This correction ensures that all eligible stockholders receive their dividends correctly.

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Presidio Property Trust (NASDAQ: SQFT; SQFTP) reported strong performance in model home sales for 2022, selling 31 homes for approximately $17.5 million, resulting in a gain of about $5.4 million. The homes, purchased at an average price of $391,000, were sold at an average price of $565,000, held for an average of 3.6 years. The company's leadership expressed optimism about future capital recycling opportunities with homebuilders in 2023. Presidio engages in diversified real estate investments, focusing on properties leased to homebuilders primarily in Texas and Florida, alongside other commercial real estate holdings.

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Presidio Property Trust (NASDAQ:SQFT; SQFTP; SQFTW) has declared dividends for its 9.375% Series D Cumulative Redeemable Perpetual Preferred Stock for January, February, and March 2023. The January dividend of $0.19531 per share is payable on February 15, 2023, followed by the February dividend on March 15, 2023, and the March dividend on April 17, 2023, all to shareholders of record as of the end of the respective preceding months. Presidio continues to focus on its diversified real estate portfolio across various states, including Texas and Florida, while also managing SPAC, Murphy Canyon Acquisition Corp.

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Presidio Property Trust has announced a significant long-term lease agreement with KLJ Engineering LLC for 33,296 square feet at the Grand Pacific Center in Bismarck, North Dakota. This lease strengthens the building's tenant roster, which is now over 92% leased. The company has invested in improvements to the property, enhancing its appeal as a leading office location in downtown Bismarck. These developments are expected to benefit local businesses and indicate a positive trend for Presidio's real estate portfolio.

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Presidio Property Trust has secured a lease agreement with Axia Energy II, LLC for 9,928 square feet at the Shea Center II office building in Highlands Ranch, Colorado. This strategic addition enhances Presidio's tenant roster, as highlighted by CEO Jack Heilbron. The property boasts recent WiredScore and Energy Star certifications, enhancing its appeal in a desirable submarket filled with amenities. The company maintains a diversified portfolio across various states, emphasizing operational efficiency and the potential for growth.

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Presidio Property Trust has declared a cash dividend of $0.021 per share on its Series A Common Stock for Q4 2022. This dividend will be payable on December 30, 2022, to stockholders of record by the close of business on December 19, 2022. Presidio operates as a diversified real estate investment trust (REIT) with properties primarily in Texas, Florida, and Colorado, focusing on model homes leased to builders along with office, industrial, and retail spaces.

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Presidio Property Trust has declared a cash dividend of $0.19531 per share on its 9.375% Series D Cumulative Redeemable Perpetual Preferred Stock for November 2022. This dividend will be paid on December 15, 2022, to shareholders recorded by November 30, 2022. The company operates a diversified real estate portfolio, primarily in Texas and Florida for model homes, and in Colorado and other states for office, industrial, and retail properties. Investors should note the inherent risks associated with concentrated geographic operations.

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Presidio Property Trust reported its Q3 2022 financial results, showing a net loss of approximately $(1.3 million) or $(0.11) per share, a slight improvement from the prior year's loss. The Company signed 13 leases totaling 52,000 square feet, with 45 leases achieved year-to-date. Notably, the Company reported a gain of $1.3 million from the sale of model homes. Acquisitions included 15 model homes for $8.1 million. The Company also paid a total dividend of $1.758 per share to Series D preferred stockholders during the first nine months of 2022.

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Presidio Property Trust (NASDAQ: SQFT; SQFTP; SQFTW) announced the acquisition of six model home properties on October 21, 2022, located in the Dallas-Fort Worth area. These newly constructed homes are leased back to homebuilders on a triple-net basis. The company maintains a positive outlook on Texas's growth, noting a 13% year-over-year increase in median home prices in the region. Presidio specializes in leasing model homes primarily in Texas and Florida, alongside other commercial properties.

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Presidio Property Trust (NASDAQ:SQFT, SQFTP) announced a significant lease renewal with Fredrikson & Byron, P.A. at its Dakota Center in Fargo, North Dakota. This long-term extension highlights Presidio's commitment to retaining tenants amid challenging economic conditions. The company has invested heavily in upgrading the property, enhancing its appeal. Additionally, a major renovation is set to commence to cater to tenant needs. This deal reflects Presidio's strategic management of its diversified real estate portfolio, primarily in Texas and Florida.

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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 $14.35 as of November 1, 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

SQFTP Rankings

SQFTP Stock Data

1.00M
REIT - Diversified
Real Estate Investment Trusts
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United States of America
SAN DIEGO