Presidio Ppty Tr Inc Stock Price, News & Analysis

Presidio Property Trust has announced a significant long-term lease agreement with KLJ Engineering LLC for 33,296 square feet at the Grand Pacific Center in Bismarck, North Dakota. This lease strengthens the building's tenant roster, which is now over 92% leased. The company has invested in improvements to the property, enhancing its appeal as a leading office location in downtown Bismarck. These developments are expected to benefit local businesses and indicate a positive trend for Presidio's real estate portfolio.

Presidio Property Trust has announced a cash dividend of $0.19531 per share for its 9.375% Series D Cumulative Redeemable Perpetual Preferred Stock for December 2022. This dividend will be payable on January 16, 2023, to shareholders on record as of December 31, 2022. The REIT primarily holds model home properties leased to homebuilders, with operations mainly in Texas and Florida, along with other properties in Colorado, Maryland, North Dakota, Texas, and Southern California.

Presidio Property Trust has secured a lease agreement with Axia Energy II, LLC for 9,928 square feet at the Shea Center II office building in Highlands Ranch, Colorado. This strategic addition enhances Presidio's tenant roster, as highlighted by CEO Jack Heilbron. The property boasts recent WiredScore and Energy Star certifications, enhancing its appeal in a desirable submarket filled with amenities. The company maintains a diversified portfolio across various states, emphasizing operational efficiency and the potential for growth.

Presidio Property Trust has declared a cash dividend of $0.021 per share on its Series A Common Stock for Q4 2022. This dividend will be payable on December 30, 2022, to stockholders of record by the close of business on December 19, 2022. Presidio operates as a diversified real estate investment trust (REIT) with properties primarily in Texas, Florida, and Colorado, focusing on model homes leased to builders along with office, industrial, and retail spaces.

Presidio Property Trust has declared a cash dividend of $0.19531 per share on its 9.375% Series D Cumulative Redeemable Perpetual Preferred Stock for November 2022. This dividend will be paid on December 15, 2022, to shareholders recorded by November 30, 2022. The company operates a diversified real estate portfolio, primarily in Texas and Florida for model homes, and in Colorado and other states for office, industrial, and retail properties. Investors should note the inherent risks associated with concentrated geographic operations.

Presidio Property Trust reported its Q3 2022 financial results, showing a net loss of approximately $(1.3 million) or $(0.11) per share, a slight improvement from the prior year's loss. The Company signed 13 leases totaling 52,000 square feet, with 45 leases achieved year-to-date. Notably, the Company reported a gain of $1.3 million from the sale of model homes. Acquisitions included 15 model homes for $8.1 million. The Company also paid a total dividend of $1.758 per share to Series D preferred stockholders during the first nine months of 2022.

Presidio Property Trust announced a merger between Conduit Pharmaceuticals and Murphy Canyon Acquisition Corp. The business combination is expected to close in Q1 2023, granting Conduit access to public equity markets to expedite its autoimmune disease and idiopathic male infertility pipeline. The transaction values the combined company at approximately $700.49 million, with about $136.04 million in cash from Murphy's trust account. Existing Conduit shareholders will retain 76.48% ownership post-merger.

Conduit Pharmaceuticals and Murphy Canyon Acquisition Corp. have announced a definitive agreement for a business combination. This merger will provide Conduit with an estimated enterprise value of $700.49 million, along with approximately $149.36 million cash proceeds to fund its clinical programs targeting autoimmune diseases and idiopathic male infertility. The combined company is set to list on NASDAQ under the ticker "CDT" in Q1 2023. Conduit's promising pipeline includes a glucokinase activator and an MPO inhibitor, aiming at unmet medical needs.

Presidio Property Trust (NASDAQ: SQFT; SQFTP; SQFTW) announced the acquisition of six model home properties on October 21, 2022, located in the Dallas-Fort Worth area. These newly constructed homes are leased back to homebuilders on a triple-net basis. The company maintains a positive outlook on Texas's growth, noting a 13% year-over-year increase in median home prices in the region. Presidio specializes in leasing model homes primarily in Texas and Florida, alongside other commercial properties.