Presidio Property Trust Inc. (SQFT) shares pop up 9.11% in after-hours on Wednesday, June 23, 2021, and closed at $4.43 per share. Earlier in the morning session, SQFT’s stock gained 1.25% to close Wednesday’s session at $4.06. SQFT shares have moved up 0.25% in the past week. Over the past three months, the stock has gained 12.47%, while over the past six months, it has shed 26.05%.

Full Exercise of Over-Allotment Option

On June 17, 2021, Presidio Property Trust announced that the underwriters of its 9.375% Series D Cumulative Redeemable Perpetual Preferred Stock (the “Series D Preferred Stock”) have exercised in full their over-allotment option to purchase an additional 120,000 shares of Series D Preferred Stock from Presidio at a price to the public of $25.00 per share for gross proceeds of $3.0 million. Presidio will get gross proceeds of $23.0 million after selling a total of 920,000 shares.

Closing of Its Upsized Public Offering of Preferred Stock

On June 15, 2021, Presidio Property Trust closed its upsized public offering of 800,000 shares of its 9.375% Series D Cumulative Redeemable Perpetual Preferred Stock (the “Series D Preferred Stock”) at a price to the public of $25.00 per share for gross proceeds of $20.0 million.

Sales of Highland Court and Executive Office Park Properties

On May 27, 2021, Presidio Property Trust announced the sales of its Highland Court and Executive Office Park properties. Highland Court was sold on May 20, 2021. on May 21, 2021, Presidio sold its three remaining buildings at Executive Office Park, a four-building office complex in Colorado Springs, Colorado.

Update on Model Home Activity

On May 20, 2021, Presidio Property Trust acquired six model home properties through subsidiary and affiliate entities. These newly constructed single-family homes are located in the Dallas-Fort Worth metroplex and are leased back to the homebuilders on a triple-net basis.

Second-Quarter 2021 Dividend declaration

On May 21, 2021, the Board of Directors of Presidio Property Trust, Inc. declared a cash dividend of $0.102 per share on its Series A Common Stock for the second quarter of 2021. This is the second consecutive quarterly dividend increase since Presidio Property’s initial public offering in October of 2020.

Recent financial results

On May 11, 2021, Presidio Property Trust, Inc announced its unaudited financial results for its first quarter ended March 31, 2021.

Q1 2021 financial highlights

• Total revenue for Q1 2021 was $5.7 million compared to $7.03 million for Q1 2020.
• Total cost and expenses were $5.10 million for Q1 2021, compared to $5.30 million in Q1 2020.
• Presidio Property Trust suffered an et loss of approximately $2.7 million, or $0.28 per basic and diluted share in Q1 2021, compared to a net loss of $1.1 million, or $0.12 per basic and diluted share for the three months ended March 31, 2020.

Conclusion

Well as of this writing, there is no recent news or development which could be linked with its gains in the after-markets on Wednesday.