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Presidio Property Trust, Inc. reports news tied to its role as an internally managed, diversified REIT and to the Nasdaq-listed Series A common stock purchase warrants that trade under SQFTW. Company updates focus on model home properties triple-net leased to homebuilders, commercial office, industrial and retail assets, and segment performance across rental income, property sales and Core FFO reporting.
Recurring developments include quarterly and annual earnings releases, model home acquisitions and resales, commercial leasing, mortgage refinancing for office properties, and capital-allocation decisions involving the 9.375% Series D Cumulative Redeemable Perpetual Preferred Stock.
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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; SQFTW) has declared dividends for its 9.375% Series D Cumulative Redeemable Perpetual Preferred Stock for January, February, and March 2023. The January dividend of $0.19531 per share is payable on February 15, 2023, followed by the February dividend on March 15, 2023, and the March dividend on April 17, 2023, all to shareholders of record as of the end of the respective preceding months. Presidio continues to focus on its diversified real estate portfolio across various states, including Texas and Florida, while also managing SPAC, Murphy Canyon Acquisition Corp.
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 (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.
Presidio Property Trust (NASDAQ:SQFT, SQFTP) announced a significant lease renewal with Fredrikson & Byron, P.A. at its Dakota Center in Fargo, North Dakota. This long-term extension highlights Presidio's commitment to retaining tenants amid challenging economic conditions. The company has invested heavily in upgrading the property, enhancing its appeal. Additionally, a major renovation is set to commence to cater to tenant needs. This deal reflects Presidio's strategic management of its diversified real estate portfolio, primarily in Texas and Florida.
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 October 2022, payable on November 15, 2022. Shareholders of record as of October 31, 2022, will receive this payment. The company, which operates a diversified REIT with properties primarily in Texas and Florida, notes its susceptibility to regional market conditions impacted by COVID-19. Presidio also sponsors Murphy Canyon Acquisition Corp. (NASDAQ: MURF) with approximately $140 million in trust.