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 (NASDAQ:SQFT, SQFTP) announced a cash dividend of $0.103 per share on its Series A Common Stock for Q3 2021, marking the third consecutive quarterly dividend increase since its IPO in October 2020. The dividend will be paid on September 21, 2021, to shareholders on record as of September 7, 2021. Presidio is a diversified real estate investment trust specializing in model home, office, industrial, and retail properties primarily located in Texas, Florida, and Colorado.

Presidio Property Trust (NASDAQ: SQFT; SQFTP) announced an amendment to its line of credit, allowing up to $30 million for model home acquisitions. The applicable interest rate is approximately 3.0%. CEO Jack Heilbron emphasized the credit line's importance in navigating real estate market cycles to enhance shareholder value. First Horizon Bank is the sole lender for this facility. Presidio Property Trust is a diversified REIT, primarily investing in office, industrial, and retail properties, along with model homes in Texas and Florida.

Presidio Property Trust has completed an all-cash acquisition of a Kiddie Academy location in Houston, Texas. This strategic purchase aligns with the company’s growth objectives, leveraging non-discretionary spending trends in the area. The asset features a triple-net lease structure, ensuring steady cash flow with annual rent increases over a 15-year period. The recent construction of the property is anticipated to minimize future capital expenditures. The acquisition is expected to enhance Presidio's diversified real estate portfolio, focusing on stability and growth in a robust market.

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 August 2021. The dividend will be paid on September 15, 2021, to shareholders on record as of August 31, 2021. As a diversified REIT, Presidio holds properties primarily in Texas, Florida, Colorado, North Dakota, and Southern California. The company aims to leverage geographical clustering for operational efficiency but acknowledges vulnerability to local market fluctuations, particularly from COVID-19.

On August 10, 2021, Presidio Property Trust (Nasdaq: SQFT, SQFTP) reported its second-quarter earnings for 2021, highlighting strong rent collections and notable capital raises. The company raised $23 million in preferred equity and $10 million in common equity and warrants. Core FFO for Q2 was approximately $737,000, or $0.08 per share, while net income was about $754,203, a significant increase from a net loss of $1.9 million in Q2 2020. The company signed 12 leases, generating an additional $633,000 in annual rental revenue.

Presidio Property Trust will release its financial results for the quarter ending June 30, 2021, after market close on August 10, 2021. A conference call is scheduled for 1:30 PM PT on the same day, allowing investors to discuss these results. The call details include a toll-free number for participation and a replay option available until August 24, 2021. Presidio, a diversified real estate investment trust (REIT), owns properties primarily in Texas, Florida, and Colorado. Investors are encouraged to review the company's website for further information.

Presidio Property Trust has declared a dividend of $0.19531 per share on its 9.375% Series D Cumulative Redeemable Perpetual Preferred Stock for July 2021. This dividend will be paid in cash on August 16, 2021, to shareholders on record as of July 30, 2021. Presidio, an internally managed REIT, holds diversified properties across various sectors including office, industrial, and retail, primarily in Texas, Florida, Colorado, North Dakota, and Southern California. The company's operational efficiency relies on geographical clustering.

Presidio Property Trust announced the closing of a registered direct offering totaling 1,000,000 shares of Series A common stock, along with warrants and pre-funded warrants. The offering price was set at $5.00 per share for common stock plus warrants and $4.99 for common stock plus pre-funded warrants. The net proceeds are expected to be approximately $9.1 million, intended for working capital and potential property acquisitions. A.G.P./Alliance Global Partners acted as placement agent. The offering was conducted under an effective shelf registration statement.

Presidio Property Trust has declared a dividend of $0.10417 per share on its 9.375% Series D Cumulative Redeemable Perpetual Preferred Stock, to be paid on July 15, 2021. This dividend covers the initial period from the issue date of June 15 to June 30, 2021. Shareholders of record as of June 30, 2021 will be eligible for this payment. The company is classified as a diversified real estate investment trust (REIT) with properties mainly located in Texas, Florida, Colorado, North Dakota, and Southern California.