Welcome to our dedicated page for Presidio Ppty Tr news (Ticker: SQFTW), a resource for investors and traders seeking the latest updates and insights on Presidio Ppty Tr stock.
Presidio Property Trust Inc (SQFTW) is a diversified real estate investment trust (REIT) employing a contrarian strategy focused on model home properties and commercial real estate assets. This news hub provides investors with centralized access to official announcements, financial updates, and strategic developments.
Key resources include earnings reports, acquisition details, portfolio expansions, and management insights. Track updates on triple-net leased model homes, commercial property performance, and geographic diversification initiatives across key U.S. markets.
Discover timely information about Presidio's value-driven acquisitions, builder partnerships, and operational strategies. This curated collection serves as an essential tool for monitoring the REIT's progress in identifying undervalued assets and executing its active management approach.
Bookmark this page for streamlined access to Presidio Property Trust's latest developments. Combine these updates with fundamental analysis to stay informed about this unique player in the real estate investment landscape.
Presidio Property Trust (NASDAQ: SQFT) reported its first-quarter 2024 earnings, revealing a net loss of $5.8 million or ($0.47) per share, compared to a net loss of $1.5 million or ($0.13) per share in Q1 2023. Revenues increased to $4.8 million from $4.1 million a year earlier. Key highlights include signing leasing transactions totaling 24,476 sf and selling 27 model homes for $14 million, recognizing a gain of $2 million. The company also faced a $0.1 million non-cash impairment charge related to four model homes. Investments in Conduit Pharmaceuticals marked a $3.9 million fair value loss. FFO dropped to $(971,367) from $(228,914) in Q1 2023, and Core FFO decreased from $31,932 to $(429,445). No distributions were declared for Series A Common Stock, while Series D Preferred Stock distributions remained consistent at $0.58593 per share.
Presidio Property Trust, Inc. has reached a cooperation agreement with Zuma Capital Management, appointing Elena Piliptchak to the board of directors. The Zuma Investor Group that holds 7.6% of Presidio's outstanding stock has agreed to certain provisions, enhancing corporate governance and stockholder value.
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