Presidio Ppty Tr Inc Stock Price, News & Analysis

Presidio Property Trust has announced the successful acquisition of a commercial property fully leased to Johns Hopkins University's Bloomberg School of Public Health in Baltimore for cash. This property aligns with Presidio's strategy to expand into markets with strong university and hospital presences. The acquisition features a triple-net lease with steady annual rent increases, promising robust cash flow. CBRE represented the seller in this transaction, enhancing Presidio's portfolio with a reputable tenant in the healthcare sector.

Presidio Property Trust (NASDAQ:SQFT)(NASDAQ:SQFTP) has announced leadership promotions aimed at strengthening its management team. Gary Katz is now the Chief Investment Officer, while Steve Hightower has been named President of the Model Home Division. These appointments reflect the company's commitment to succession planning and growth. The firm, which focuses on model home properties leased to builders, maintains a diversified portfolio primarily in Texas and Florida, with additional properties in Colorado, North Dakota, and Southern California.

Presidio Property Trust (NASDAQ:SQFT, SQFTP) recently announced its acceptance of cryptocurrency for tenant rental and common area maintenance charges. This initiative enables tenants to pay using Bitcoin, Ethereum, Dogecoin, and Litecoin. President and CEO Jack Heilbron expressed the belief that this will be attractive to current and prospective tenants, especially in expansion markets. The company aims to position itself as a forward-thinking landlord. Presidio manages diverse commercial real estate primarily in Texas, Florida, and Colorado.

Presidio Property Trust has declared a cash dividend of $0.104 per share on its Series A Common Stock for Q4 2021. This marks the fifth consecutive quarterly increase since the company's IPO in October 2020. The dividend will be payable on December 20, 2021, to stockholders of record as of the close of business on December 6, 2021. Presidio is a diversified REIT with properties primarily in Texas, Florida, and Colorado, focusing on model homes leased to homebuilders.

Presidio Property Trust has declared dividends for its 9.375% Series D Cumulative Redeemable Perpetual Preferred Stock for November and December 2021. The dividend amounts to $0.19531 per share, payable on December 15, 2021, for November to shareholders on record as of November 30, 2021, and on January 18, 2022, for December to those on record as of December 31, 2021. This dividend declaration showcases Presidio's commitment to rewarding its investors amidst a challenging real estate market, particularly focusing on its diversified properties mainly located in Texas, Florida, and Colorado.

Presidio Property Trust, Inc. (NASDAQ:SQFT, SQFTP) reported its Q3 2021 earnings, indicating strong operational performance with 96% rent collection. The company incurred a net loss of $1.4 million, improving from a loss of $1.7 million in Q3 2020. Key highlights include a $1.1 million decrease in interest expenses and the signing of 11 leases. Core FFO increased to $1.67 million for the nine months ended September 30, 2021. The company made its first acquisition in Texas, purchasing a newly constructed facility for $4.9 million, while selling four properties with recognized losses totaling approximately $3.8 million.

Presidio Property Trust (NASDAQ: SQFT) announced the acquisition of three model home properties near Dallas-Fort Worth on October 28, 2021. These newly built homes will be leased back to homebuilders on a triple-net basis. The company reports a favorable market with shorter days-on-market, decreasing from 86 days in September 2020 to 52 days in September 2021, along with a 40% drop in active listings from the previous year. This suggests ongoing support for their model home strategy.

Presidio Property Trust (NASDAQ:SQFT, SQFTP) announced it will release its financial results for Q3 2021 on November 11, 2021, post-market close. A conference call is scheduled for 1:30 PM PT that day to discuss the results. Investors can access the event via the webcast on the company's website, and a supplemental financial package will be available online. Presidio operates a diversified real estate investment trust with properties primarily in Texas, Florida, Colorado, North Dakota, and Southern California.