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 has announced the amendment of its line of credit, extending it until October 12, 2023, which offers up to $30 million for model home acquisitions. The facility, provided by First Horizon Bank, aims to support the company's operations in challenging real estate markets. CEO Jack Heilbron expressed optimism about the model home segment's future and the company's ability to capitalize on market opportunities.

Presidio Property Trust (NASDAQ:SQFT, SQFTP) announced that its Shea Center II office building in Highlands Ranch, Colorado, has received ENERGY STAR certification from the EPA for its superior energy performance. This achievement aligns with the company's commitment to enhancing energy efficiency and reducing operating costs for tenants. The Shea Center II features 121,000 square feet of Class A office space and additional amenities, including conference facilities and covered parking. Presidio is also planning to install electric vehicle charging stations to further promote sustainability.

Presidio Property Trust has announced a dividend of $0.19531 per share for its 9.375% Series D Cumulative Redeemable Perpetual Preferred Stock for September 2022. The payment date is set for October 17, 2022, for shareholders on record as of September 30, 2022. The company, which operates a diversified portfolio of real estate, primarily in Texas and Florida, utilizes a clustering strategy to reduce operating costs but remains vulnerable to local market conditions. Presidio also sponsors Murphy Canyon Acquisition Corp., a SPAC with approximately $140 million in trust.

Presidio Property Trust has approved a share repurchase plan allowing the company to buy back up to $10 million in total of its Series A Common Stock and Series D Preferred Stock. This decision expands upon a previous repurchase program authorized in September 2021, which focused solely on Series A shares. The buyback may occur through various methods, including open market transactions, and aligns with SEC regulations. This strategic move aims to enhance shareholder value and confidence in the company’s financial health.

Presidio Property Trust (NASDAQ:SQFT; SQFTP) announced a cash dividend of $0.02 per share on its Series A Common Stock for Q3 2022, payable on September 30, 2022, to shareholders of record by September 16, 2022. The company has adopted a new variable dividend policy, which will determine dividends based on multiple factors, including property acquisitions and the market environment. CEO Jack Heilbron noted the significance of dividends for shareholder returns while remaining cautious about capital deployment.

Presidio Property Trust announced that its Shea Center II office building in Highlands Ranch, Colorado, has achieved WiredScore Silver certification. This achievement highlights the property’s commitment to superior digital connectivity, making it one of only six certified properties in Colorado. The 121,000 square foot Class 'A' office building features advanced technology infrastructure and flexible capabilities for future upgrades. The certification aligns with the company's strategy to enhance tenant experience and adapt to new technologies.

Presidio Property Trust announced a dividend of $0.19531 per share on its 9.375% Series D Cumulative Redeemable Perpetual Preferred Stock for August 2022. This payment is scheduled for September 15, 2022, to shareholders on record by August 31, 2022. The company, a diversified real estate investment trust (REIT), primarily holds model home properties leased to homebuilders in Texas and Florida, alongside office and retail properties mainly in Colorado. Presidio also sponsors the Murphy Canyon Acquisition Corp., a SPAC with approximately $140 million in trust.

Presidio Property Trust reported its Q2 2022 results, highlighting a net loss of $830,000 compared to a net income of $754,000 in Q2 2021. The company achieved a 98% rental collection rate and signed 16 leases, bringing total signed leases for the year to 32 covering 118,360 square feet. FFO decreased to $(46,000) from $456,000 year-over-year, mainly due to increased G&A expenses. The company paid dividends totaling $1.172 per share for Series D preferred stock in 2022.

Presidio Property Trust (NASDAQ:SQFT; SQFTP; SQFTW) declared a cash dividend of $0.19531 per share on its 9.375% Series D Preferred Stock for July 2022. Shareholders on record by July 31, 2022, will receive the dividend on August 15, 2022. Presidio, a diversified real estate investment trust (REIT), focuses on model home properties leased to homebuilders, as well as office, industrial, and retail sectors primarily in Texas, Florida, and Colorado.