Presidio Property Trust Announces Approval of Share Repurchase Plan

Presidio Property Trust, Inc. (NASDAQ: SQFT) declared in a recent 8-K filing that its Board of Directors has given the green light to a share repurchase initiative. This plan enables the company to buy back a total of up to $6 million worth of its outstanding Series A Common Stock and up to $4 million of its 9.375% Series D Cumulative Redeemable Perpetual Preferred Stock.

The share repurchase program permits Presidio to acquire shares periodically through various methods, which may involve open market or privately negotiated transactions, complying meticulously with the Securities and Exchange Commission’s regulations and other pertinent legal prerequisites.

Presidio Property Trust is an internally managed real estate investment trust engaged in a diversified portfolio, including model home properties leased to homebuilders, as well as office, industrial, and retail properties. The company’s model homes are predominantly situated in states like Arizona, Illinois, Texas, Wisconsin, and Florida, while their other properties span across Colorado, Maryland, North Dakota, Texas, and Southern California.

In addition, Presidio holds around 4.3% of the common stock of Conduit Pharmaceuticals Inc., which is a clinical-stage life science company known for its multi-asset approach in compound development.

Investors are advised to exercise caution regarding forward-looking statements contained in the press release, which fall under the purview of the Private Securities Litigation Reform Act of 1995 and relevant federal securities laws. These statements are based on current expectations and may not necessarily materialize due to various risks and uncertainties. Any updates or revisions to forward-looking statements will be made in accordance with legal obligations.

For further information and potential impact factors affecting outcomes, stakeholders are encouraged to refer to the Company’s filings with the SEC, particularly under the section “Risk Factors,” available on the SEC’s website at www.sec.gov.

Investors seeking more information can reach out to Presidio Property Trust’s Investor Relations contact, Lowell Hartkorn, at LHartkorn@presidiopt.com or by telephone at (760) 471-8536 x1244.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Presidio Property Trust’s 8K filing here.

About Presidio Property Trust

Presidio Property Trust, Inc (we, our, us or the Company) is an internally-managed real estate investment trust (REIT), with holdings in office, industrial, retail and model home properties. We were incorporated in the State of California on September 28, 1999, and in August 2010, we reincorporated as a Maryland corporation.