Presidio Property Trust Announces Series D Preferred Stock Cash Dividend

Rhea-AI Summary

Presidio Property Trust (NASDAQ: SQFT; SQFTP; SQFTW), an internally managed, diversified REIT, has announced a dividend on its 9.375% Series D Cumulative Redeemable Perpetual Preferred Stock for October, November, and December 2024. The dividend details are as follows:

• October 2024: $0.19531 per share, payable on November 15, 2024, to shareholders of record as of October 31, 2024
• November 2024: $0.19531 per share, payable on December 16, 2024, to shareholders of record as of November 29, 2024
• December 2024: $0.19531 per share, payable on January 15, 2025, to shareholders of record as of December 31, 2024

This announcement demonstrates Presidio's commitment to providing consistent returns to its Series D Preferred Stock shareholders.

Positive

• Consistent quarterly dividend of $0.19531 per share for Series D Preferred Stock
• Timely declaration of dividends for the next three months, providing clarity for investors

Negative

• None.

SAN DIEGO, Oct. 01, 2024 (GLOBE NEWSWIRE) -- (NASDAQ: SQFT; SQFTP; SQFTW) Presidio Property Trust, Inc. (“Presidio” or the “Company”), an internally managed, diversified real estate investment trust (“REIT”), today announced that its Board of Directors has authorized, and the Company has declared, a dividend on its 9.375% Series D Cumulative Redeemable Perpetual Preferred Stock (the “Series D Preferred Stock”) for the months of October 2024, November 2024 and December 2024.

In accordance with the terms of the Series D Preferred Stock, the October 2024 Series D dividend will be payable in cash in the amount of $0.19531 per share on November 15, 2024, to shareholders of record of Series D Preferred Stock as of the dividend record date of October 31, 2024. The November 2024 Series D dividend will be payable in cash in the amount of $0.19531 per share on December 16, 2024, to shareholders of record of Series D Preferred Stock as of the dividend record date of November 29, 2024. The December 2024 Series D dividend will be payable in cash in the amount of $0.19531 per share on January 15, 2025, to shareholders of record of Series D Preferred Stock as of the dividend record date of December 31, 2024.

About Presidio Property Trust

Presidio is an internally managed, diversified REIT with holdings in model home properties which are triple-net leased to homebuilders, office, industrial, and retail properties. Presidio’s model homes are leased to homebuilders located in Arizona, Illinois, Texas, Wisconsin, and Florida. Our office, industrial and retail properties are located primarily in Colorado, with properties also located in Maryland, North Dakota, Texas, and Southern California. While geographical clustering of real estate enables us to reduce our operating costs through economies of scale by servicing several properties with less staff, it makes us susceptible to changing market conditions in these discrete geographic areas, including those that have developed as a result of COVID-19. Presidio owns approximately 5.4% of the outstanding common stock of Conduit Pharmaceuticals Inc., a disease agnostic multi-asset clinical-stage disease-agnostic life science company providing an efficient model for compound development. For more information on Presidio, please visit the Company’s website at https://www.PresidioPT.com.

Cautionary Note Regarding Forward-Looking Statements

This press release contains statements that are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and other federal securities laws. Forward-looking statements are statements that are not historical, including statements regarding management’s intentions, beliefs, expectations, representations, plans or predictions of the future, and are typically identified by such words as “believe,” “expect,” “anticipate,” “intend,” “estimate,” “may,” “will,” “should” and “could.” Because such statements include risks, uncertainties and contingencies, actual results may differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon the Company’s present expectations, but these statements are not guaranteed to occur. Except as required by law, the Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes. Investors should not place undue reliance upon forward-looking statements. For further discussion of the factors that could affect outcomes please refer to the Company’s filings with the SEC, including those under “Risk Factors” therein, copies of which are available on the SEC’s website, www.sec.gov.

Investor Relations Contact:

Presidio Property Trust, Inc.
Lowell Hartkorn, Investor Relations
LHartkorn@presidiopt.com
Telephone: (760) 471-8536 x1244

FAQ

What is the dividend amount for Presidio Property Trust's Series D Preferred Stock (SQFT) for October-December 2024?

The dividend amount for Presidio Property Trust's Series D Preferred Stock is $0.19531 per share for each month from October to December 2024.

When will Presidio Property Trust (SQFT) pay the Series D Preferred Stock dividend for October 2024?

Presidio Property Trust will pay the October 2024 Series D Preferred Stock dividend on November 15, 2024, to shareholders of record as of October 31, 2024.

What is the record date for Presidio Property Trust's (SQFT) December 2024 Series D Preferred Stock dividend?

The record date for Presidio Property Trust's December 2024 Series D Preferred Stock dividend is December 31, 2024.

How often does Presidio Property Trust (SQFT) pay dividends on its Series D Preferred Stock?

Based on the press release, Presidio Property Trust pays dividends on its Series D Preferred Stock monthly.