Presidio Property - SQFTP STOCK NEWS

Presidio Property Trust (NASDAQ:SQFT, SQFTP) has started tenant improvement construction for DISH Wireless LLC at its Genesis Plaza office building in San Diego, California. This lease, covering over 6,000 square feet, has increased occupancy at Genesis Plaza to 96%. CEO Jack Heilbron highlighted the significance of attracting a strong credit tenant like DISH, reflecting the high-quality business environment at Genesis Plaza. The press release also mentions Presidio's diverse real estate portfolio, which includes various property types across multiple states.

Presidio Property Trust has declared a cash dividend of $0.106 per share on its Series A Common Stock for the second quarter of 2022, marking the seventh consecutive quarterly dividend since its IPO in October 2020. The dividend will be payable on June 24, 2022, to stockholders of record as of June 10, 2022. Presidio is a diversified real estate investment trust focusing on model homes leased to homebuilders and other properties across several states, including Texas and Florida.

Presidio Property Trust has declared a dividend of $0.19531 per share for its 9.375% Series D Cumulative Redeemable Perpetual Preferred Stock, payable on June 15, 2022. Shareholders of record as of May 31, 2022 will receive this cash dividend. The company, which operates primarily in Texas and Florida, manages diversified real estate including model homes, office, industrial, and retail properties. The announcement highlights the company's continued commitment to providing returns to its shareholders amidst its operational footprint in various states, including Colorado and Maryland.

Presidio Property Trust reported a net loss of approximately $(3.8 million) or $(0.32) per share for Q1 2022, compared to $(2.6 million) or $(0.28) per share in Q1 2021. The company collected 92% of total tenant billings, achieving 100% collection from retail tenants. Fifteen leases were signed, with seven new tenants. The firm sold World Plaza for $10 million with a loss of $0.3 million, and disposed of model homes, earning a gain of $1.8 million. The dividend paid was $0.105 per share for Series A common stock.

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 April 2022. The dividend will be payable on May 15, 2022, to shareholders of record by April 30, 2022. Presidio is a diversified real estate investment trust (REIT) focused on model home properties, as well as office, industrial, and retail holdings, primarily located in Texas, Florida, and Colorado. They also sponsor the SPAC Murphy Canyon Acquisition Corp., with approximately $140 million held in trust.

Presidio Property Trust, reporting 2021 earnings, shows a net loss of $4.8 million, improved from $7.7 million in 2020. This reduction is attributed to a $4 million decline in interest expense, $2.6 million in rental costs, and $566,000 in administrative expenses. Core FFO increased to $2.5 million from $1.5 million in the previous year. The company sold several properties at a loss but continued to reposition its portfolio, acquiring 28 model homes during the year, enhancing its leasing activities.

Presidio Property Trust announced the successful sale of World Plaza, a retail center in San Bernardino, California, completing its strategy to divest retail properties in the state. The property was fully occupied at the time of sale, following extensive renovations that increased its occupancy from 31% in 2018 to 100% in 2019. The company retains its last commercial property in California, Genesis Plaza, which houses its headquarters. Presidio operates a diversified portfolio primarily in Texas and Florida, with an eye on future investments through its SPAC, Murphy Canyon Acquisition Corp.

Presidio Property Trust (NASDAQ: SQFT; SQFTP) announced it will release its financial results for the year ended December 31, 2021, on March 31, 2022. A conference call to discuss these results is scheduled for 1:30 PM PT on the same day. The company focuses on model home properties leased to homebuilders and has a diversified real estate portfolio across several states including Texas, Florida, and Colorado. Presidio also sponsors Murphy Canyon Acquisition Corp., a SPAC targeting the real estate sector.

Presidio Property Trust has announced a cash dividend of $0.105 per share on its Series A Common Stock for Q1 2022. This marks the sixth consecutive quarterly dividend and reflects growth since the company's IPO in October 2020. The dividend will be payable on March 28, 2022, to stockholders of record as of March 16, 2022. Presidio is a diversified REIT focusing on model home properties leased to homebuilders, with holdings primarily in Texas and Florida, as well as properties in Colorado and other states.