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.
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Presidio Property Trust (SQFT, SQFTP) announced significant developments in its first quarter 2023 report. The company acquired 9 new single-family model home properties across Arizona, Florida, Illinois, Texas, and Wisconsin, which are leased back to homebuilders on a triple-net basis. In addition, Presidio sold 3 model homes for approximately $1.6 million, realizing a gain of $393,000. The average purchase price was roughly $380,000, while the average sales price reached around $540,000. Management expressed confidence in the model home resale performance, highlighting anticipated growth from strategic property acquisitions, and aims to strengthen homebuilder relationships throughout 2023.
Presidio Property Trust (NASDAQ:SQFT, SQFTP, SQFTW) announced the declaration of dividends for its 9.375% Series D Cumulative Redeemable Perpetual Preferred Stock for the months of April, May, and June 2023. The April dividend of $0.19531 per share will be payable on May 15, 2023, to shareholders on record as of April 30, 2023. Similarly, the May dividend is scheduled for June 15, 2023, and the June dividend on July 17, 2023, both with the same payout amount. Presidio operates a diversified portfolio, focusing on model home properties primarily in Texas and Florida, and additional office and retail spaces across the U.S. The company also sponsors the SPAC Murphy Canyon Acquisition Corp. (NASDAQ: MURF), holding approximately $23.7 million in trust.
Presidio Property Trust (NASDAQ:SQFT, SQFTP) reported its 2022 earnings, facing challenges in the real estate market but leveraging its diversified portfolio. Key highlights include:
- Net loss of approximately $(780,067) for Q4 2022, down from a net income of $(1,501,162) in Q4 2021.
- Increased Other Income by $1.2 million driven by Murphy Canyon Acquisition Corp. Trust.
- FFO rose to $132,000 in Q4 2022, an increase from $62,000 the previous year.
- Acquired 31 model home properties for $15.6 million in 2022.
- Dividends paid throughout 2022 totaled $2.34372 per share for Series D preferred stock.
Presidio Property Trust (NASDAQ:SQFT; SQFTP) announced a correction regarding the record date for its first-quarter 2023 dividend. The cash dividend of $0.022 per share remains unchanged. The new record date is set for the close of business on March 30, 2023, with the payment date scheduled for March 31, 2023. The correction was made after an earlier release mistakenly listed the record date as March 27, 2023. This correction ensures that all eligible stockholders receive their dividends correctly.