Presidio Ppty Tr Inc Stock Price, News & Analysis

Presidio Property Trust (NASDAQ: SQFT) has announced a 1-for-10 reverse stock split of its Series A Common Stock, set to take effect at market open on May 19, 2025. The primary goal is to increase the per-share market price to regain compliance with Nasdaq Capital Market's minimum bid price requirement and maintain listing status.

For every 10 shares of Series A Common Stock, stockholders will receive 1 share post-split. The company will round up fractional shares at the participant level, and all equity awards and warrants will be proportionally adjusted. The stock will continue trading under \"SQFT\" with a new CUSIP number 74102L501.

Presidio Property Trust (NASDAQ:SQFT) reported its Q1 2025 financial results with a significant turnaround in performance. The company posted a net income of $1.7 million ($0.13 per share), compared to a net loss of $5.8 million in Q1 2024. Total revenues were $4.1 million, down from $4.8 million in the same period last year. Key highlights include a 100% retention rate for expiring leases and the sale of two commercial properties for $17.0 million, resulting in a net gain of $4.2 million. The company's model home division sold 6 homes for $2.8 million with a $0.2 million gain, while acquiring 12 new model homes for $4.3 million. As of March 31, 2025, Presidio held $117.4 million in net real estate assets, including 84 model homes, and maintained mortgage notes payable of approximately $94.4 million with a weighted average interest rate of 5.83%.

Presidio Property Trust (NASDAQ: SQFT), an internally managed real estate investment trust, has completed its tender offer for its Series A Common Stock. The company successfully purchased 2,144,116 shares at a price of $0.68 per share, including 12,086 odd lot shares, for a total cost of approximately $1.46 million. The tender offer, which expired on May 5, 2025, allowed the company to purchase all odd lots plus up to 2,000,000 shares, with the flexibility to increase the amount by up to 2% (approximately 283,080 additional shares) without amending the offer.

Presidio Property Trust (NASDAQ: SQFT) has announced a tender offer to repurchase up to 2,000,000 shares of its Series A Common Stock, plus all odd lots, at a price of $0.68 per share. The offer will expire on May 5, 2025, unless extended or terminated earlier.

The tender offer is not contingent upon any minimum number of shares being tendered or financing conditions, though other conditions may apply. The company's directors and executive officers have indicated they do not intend to participate in the tender offer.

Broadridge Corporate Issuer Solutions, will serve as both the depositary/paying agent and information agent. Offer documents will be distributed to registered holders around April 10, 2025. Shareholders are advised to carefully review all offer documents and consult with their financial advisors before making any decisions.

Presidio Property Trust (NASDAQ: SQFT) has declared cash dividends for its 9.375% Series D Cumulative Redeemable Perpetual Preferred Stock for April, May, and June 2025. Each monthly dividend payment will be $0.19531 per share with the following schedule:

• April 2025 dividend: Payable May 15, 2025 (Record date: April 30, 2025)
• May 2025 dividend: Payable June 16, 2025 (Record date: May 31, 2025)
• June 2025 dividend: Payable July 15, 2025 (Record date: June 30, 2025)

Presidio Property Trust (NASDAQ: SQFT) has released its financial results for the year ended December 31, 2024. The company reported a net loss of $27.9 million ($2.25 per share), compared to a net gain of $8.0 million in 2023. Total revenue increased by 7.3% to $18.9 million.

Key operational highlights include:

• Sale of 51 model homes for $24.8 million, generating a $3.4 million gain
• Acquisition of 19 new model homes for $9.7 million
• Net real estate assets of $127.6 million, including 78 model homes
• 83% tenant retention rate in Q4 2024

The company faced challenges including a $2.0 million non-cash impairment charge on goodwill and real estate assets. Interest expenses increased by 20.9% to $6.1 million. While no common stock dividends were declared in 2024, Series D Preferred Stock maintained monthly distributions of $0.19531 per share throughout the year.

Presidio Property Trust (SQFT) reported its financial results for the year ended December 31, 2024. The company experienced a net loss of $27.9 million ($2.25 per share), compared to a net gain of $8.0 million in 2023. Total revenue increased by 7.3% to $18.9 million.

Key operational highlights include:

• Sale of 51 model homes for $24.8 million, generating a gain of $3.4 million
• Acquisition of 19 new model homes for $9.7 million
• 83% tenant retention rate in Q4
• Recognition of $2.0 million non-cash impairment charge

The company's G&A expenses increased by 10.8% to $7.5 million, while interest expenses rose by 20.9% to $6.1 million. The company's real estate portfolio included 78 model homes as of December 31, 2024, compared to 110 homes in the previous year.

Presidio Property Trust (NASDAQ: SQFT) reported significant real estate transactions in January and February 2025. The company sold 2 model homes for $1.04 million (previously acquired in 2023 for $0.9 million) and two commercial properties for $16.95 million (purchased in 2014-2015 for $14.1 million, with a pre-sale book value of $11.6 million).

The company's Chief Investment Officer, Gary Katz, expressed cautious optimism about real estate market recovery in 2025, noting potential positive trends in office occupancy as companies reduce remote work programs. Steve Hightower, President of the Model Homes Division, indicated that model home sales met Q1 2025 expectations despite typical seasonal and election cycle slowdowns, while emphasizing continued focus on new purchasing opportunities and monitoring lending rates.

Presidio Property Trust (NASDAQ: SQFT) has announced the successful sale of its Union Town Center and Research Parkway properties, a multi-building retail center located in Colorado Springs, Colorado. The properties, acquired through off-market transactions in 2014 and 2015, maintained a strong 98% occupancy rate.

The decision to sell was influenced by strong capital market interest in retail properties and the center's strategic location in north Colorado Springs' growing region. The sale was facilitated by JLL's Denver office, marking the successful completion of Presidio's business plan for these properties.