Welcome to our dedicated page for Presidio Ppty Tr news (Ticker: SQFT), a resource for investors and traders seeking the latest updates and insights on Presidio Ppty Tr stock.
Presidio Property Trust, Inc. reports news as an internally managed, diversified REIT with model home properties triple-net leased to homebuilders and a commercial portfolio of office, industrial and retail assets. Updates commonly cover earnings, Core FFO reconciliation, segment income, model home acquisitions and resales, commercial leasing, property refinancing, and portfolio conditions in residential and office real estate markets.
Company announcements also address capital and securityholder matters for SQFT, SQFTP and SQFTW, including Series D Cumulative Redeemable Perpetual Preferred Stock dividends and dividend suspensions, as well as investor-relations engagements and other corporate communications.
Presidio Property Trust (NASDAQ:SQFT) acquired six model home properties in the Dallas-Fort Worth area on May 20, 2021. These newly built homes will be leased back to builders on a triple-net basis. Executives emphasized the strength of their builder relationships and the robust Texas housing market, noting an inventory level of just 1.4 months across the state and 1.3 months in Dallas-Fort Worth. The firm aims to continue leveraging these market conditions to enhance its model home strategy.
Presidio Property Trust has declared a cash dividend of $0.102 per share on its Series A Common Stock for Q2 2021. This marks the second consecutive increase since its IPO in October 2020. The dividend is set to be paid on June 21, 2021, to stockholders of record as of the close of business on June 7, 2021. The company, which invests in model home properties and diverse real estate sectors, continues to operate primarily in Texas, Florida, Colorado, North Dakota, and Southern California.
Presidio Property Trust, Inc. (NASDAQ:SQFT) reported its first-quarter financial results for 2021, revealing a net loss of approximately $2.7 million, or $0.28 per share, compared to a loss of $1.1 million in Q1 2020. Core FFO was around $936,000, equating to $0.098 per share. The company achieved a 96% collections rate of contractual base rent and executed 15 office leases, generating approximately $1.4 million in monthly revenue. The decrease in revenues by $1.3 million was attributed to the sale of four properties, although rental operating costs lowered by $0.5 million. Dividends of $0.101 per share were declared for the first quarter.
Presidio Property Trust (NASDAQ:SQFT) reported its fourth-quarter and annual financial results for 2020. The company collected 98% of billed rents despite COVID-19 challenges, and occupancy increased by 2.4% across 15 properties compared to the previous year. Core FFO for 2020 was approximately $1.48 million, or $0.16 per share. However, the company experienced a net loss of approximately $7.7 million, attributed to a $4.3 million revenue decline from property sales. Dividends of $0.10 per share were paid in Q4.
Presidio Property Trust (NASDAQ:SQFT) will announce its financial results for the year ended December 31, 2020, on March 30, 2021, post-market. A conference call will follow at 1:30 PM PT to discuss these results, with a supplemental financial package available on their website. The call can be accessed via telephone or webcast. Presidio operates a diversified portfolio, including model home properties in Texas and Florida, and approximately 1 million square feet of commercial space across several states. Investors are encouraged to attend for insights on financial performance.
Presidio Property Trust (NASDAQ:SQFT) reported strong performance in its model home segment for February 2021. The company sold 4 model homes, each averaging about $480,000, with an average holding period of 3 years. The Days on Market (DOM) for new homes in Texas improved slightly to 106 days. Additionally, Central Florida's homes averaged just 49 days on the market. Presidio holds approximately 110 model home properties across several states, mainly Texas and Florida, indicating a robust presence in the residential market.
Presidio Property Trust (NASDAQ:SQFT) declared a cash dividend of $0.101 per share on February 23, 2021, marking an increase from the previous quarter's dividend. This payment is scheduled for March 16, 2021, to shareholders of record as of March 9, 2021. Presidio, an internally managed diversified real estate investment trust, owns approximately 110 model home properties across four states, with significant holdings in Texas and Florida. Additionally, the commercial portfolio encompasses roughly 1 million square feet across various property types.
Presidio Property Trust (NASDAQ:SQFT) announced the sale of its Garden Gateway property, a 115,000 square foot office complex in Colorado Springs, on February 19, 2021. The sale is attributed to a long-term lease with the U.S. GSA, enhancing the property’s attractiveness to buyers. Proceeds from the sale will be utilized to reduce leverage and acquire properties that align with the company’s growth strategy. The management emphasized their ability to execute the business plan despite COVID-19 challenges.
Presidio Property Trust (NASDAQ:SQFT) reported strong performance in January 2021, selling three model homes at an average price of $430,000. Eight additional homes are currently in escrow. The shift to higher-growth states like Florida and Texas marks a strategic transition for the company. Despite selling two homes below their original purchase prices, Presidio achieved overall positive returns, demonstrating resilience in their model home segment. The company continues to manage a diversified portfolio of approximately 120 model home properties across five states.
Presidio Property Trust (NASDAQ:SQFT) reported its 2020 leasing activities, highlighting a successful year in spite of COVID-19 challenges. The company renewed leases for nearly 170,000 square feet (15% of its portfolio) and executed new leases for around 120,000 square feet (10% of its portfolio). Overall occupancy increased to 84.8% from 83.9% in 2019. The company's diversified tenant base across various geographies and property types has fostered resilience and sustained interest from current and prospective tenants.