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. (Nasdaq: SQFT) is an internally managed, diversified real estate investment trust (REIT) that reports frequent updates on its model home and commercial property operations, capital markets activity, and preferred stock dividends. This news page aggregates those disclosures so readers can review the company’s announced developments in one place.
According to its press releases, Presidio owns model home properties that are triple-net leased to homebuilders, along with office, industrial, and retail properties. News items often cover quarterly earnings results, including segment data for retail, office/industrial, and model homes, as well as information about Funds From Operations (FFO), Core FFO, and impairment charges on specific properties. Operational updates describe acquisitions and sales of model homes, refinancing of office buildings in Colorado, and leasing metrics such as tenant retention and square footage leased.
Investors following SQFT can also find announcements related to capital markets transactions, such as registered direct offerings of common stock under an effective shelf registration statement on Form S-3 and at-the-market equity programs. The company issues regular press releases about monthly cash dividends on its 9.375% Series D Cumulative Redeemable Perpetual Preferred Stock (SQFTP), specifying dividend amounts and key dates.
In addition, Presidio has reported corporate developments like regaining compliance with Nasdaq’s minimum bid price requirement and engaging Acorn Management Partners LLC to enhance investor outreach. By reviewing the news feed, readers can see how Presidio communicates changes in its property portfolio, financing, and listing status over time and can reference the company’s own statements when evaluating SQFT, SQFTP, and SQFTW.
Presidio Property Trust (NASDAQ: SQFT) reported its Q4 2024 model home division performance, announcing the sale of five homes for approximately $2.7 million. These properties were originally acquired between 2017 and 2022 for about $2.5 million. As of December 31, 2024, the company's model home portfolio consisted of 78 homes, with 55 being wholly owned, representing approximately 29% of their net real estate assets.
Steve Hightower, President of the Model Homes Division, noted that performance met expectations despite seasonal adjustments and election cycle impacts typically resulting in slower sales. The company continues to evaluate purchasing opportunities from national, regional, and local builders across various markets.
Presidio Property Trust (NASDAQ: SQFT) has declared dividends for its 9.375% Series D Cumulative Redeemable Perpetual Preferred Stock for the first quarter of 2025. The company will distribute three monthly cash dividends of $0.19531 per share according to the following schedule:
- January dividend payable on February 17, 2025 (record date: January 31, 2025)
- February dividend payable on March 17, 2025 (record date: February 28, 2025)
- March dividend payable on April 15, 2025 (record date: March 31, 2025)
Presidio Property Trust (NASDAQ: SQFT) has announced a new share repurchase program approved by its Board of Directors. The program authorizes the company to repurchase up to $6 million of its Series A Common Stock and up to $4 million of its Series D Preferred Stock. The repurchases may be executed through various methods, including open market transactions and privately negotiated transactions, in compliance with SEC rules and legal requirements.
Presidio Property Trust (NASDAQ: SQFT) has received an additional 180-day extension from Nasdaq to meet the $1.00 minimum bid price requirement for continued listing. The new compliance deadline is June 2, 2025. The company's stock continues trading on the Nasdaq Capital Market under 'SQFT'. To regain compliance, Presidio's closing bid price must remain at or above $1.00 for at least ten consecutive trading days before the deadline. If unsuccessful, the stock may face delisting, though Presidio can appeal to a Nasdaq Hearings Panel. The company is monitoring the situation and exploring options to meet the requirement.
Presidio Property Trust (NASDAQ: SQFT) has provided an update on its Model Home activity for Q3 2024. The company, through its subsidiaries and affiliates, acquired seven newly constructed single-family model homes in Texas for approximately $4 million. This purchase involved $2.8 million in mortgage notes payable and $1.2 million in cash. These homes are leased back to homebuilders on a triple-net basis.
Additionally, Presidio sold four homes for approximately $2.4 million during the same quarter. These homes were originally purchased between 2019 and 2022 for about $2.1 million. Model homes now represent approximately 30% of Presidio's real estate assets. Steve Hightower, President of the Model Homes Division, emphasized the importance of strong builder relationships during challenging sales cycles.
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.
Presidio Property Trust, Inc. (NASDAQ:SQFT) reported its Q2 2024 earnings. Key points include:
- Net loss of $12.4 million ($1.00 per share), compared to $1.8 million loss in Q2 2023
- Total revenues of $4.6 million, slightly up from $4.5 million in Q2 2023
- Net real estate assets of $130.9 million, including 80 model homes
- G&A expenses increased to $2.2 million (48% of revenue)
- Sold 15 model homes for $7.4 million, recognizing a $0.8 million gain
- Recorded a $10 million net loss on investment in Conduit Pharmaceuticals
- FFO decreased to $(1.3 million) from $(0.5 million) in Q2 2023
- Core FFO decreased to $(0.4 million) from $(0.2 million) in Q2 2023
Presidio Property Trust (NASDAQ: SQFT) has declared a dividend on its 9.375% Series D Cumulative Redeemable Perpetual Preferred Stock for July, August, and September 2024. The dividend amount is $0.19531 per share for each month. Payment dates are set for August 15, September 16, and October 15, 2024, respectively. Shareholders of record as of July 31, August 30, and September 30, 2024, will be eligible for the corresponding monthly dividends. This announcement demonstrates Presidio's commitment to providing consistent returns to its preferred stockholders.
Presidio Property Trust announced significant activity in its Model Home Division for Q2 2024. The company, through its subsidiaries and affiliates, acquired seven newly constructed single-family model homes in Texas for approximately $3.5 million. These acquisitions were financed with $2.4 million in mortgage notes and $1.1 million in cash. Additionally, they sold 15 homes, generating about $8.1 million. Despite challenges like affordability and high interest rates, Presidio's sales activity remained robust. The company continues to seek new acquisition opportunities and maintain relationships with builders to identify desirable properties.
Presidio Property Trust (NASDAQ: SQFT) announced the successful closing of a public offering of 109,054 shares of its 9.375% Series D Cumulative Redeemable Perpetual Preferred Stock at $16.00 per share. The offering raised approximately $1.74 million in gross proceeds, before underwriting discounts and expenses. The Benchmark Company, acted as the sole bookrunning manager for this offering. The Series D Preferred Stock offering was registered with the SEC on April 26, 2024, and declared effective on May 17, 2024. Final prospectus supplements are available on the SEC's website or from The Benchmark Company.
FAQ
What is the current stock price of Presidio Ppty Tr (SQFT)?
What is the market cap of Presidio Ppty Tr (SQFT)?
