Business
Presidio Property Trust Declares Second-Quarter 2023 Dividend
Board of Directors approves cash dividend of $0.023 per shareSAN DIEGO, CA / ACCESSWIRE / June 16, 2023 / (NASDAQ:SQFT; SQFTP) Presidio Property Trust, Inc.
About this update from Presidio Property Trust, Inc.
[{"type":"text","content":"Board of Directors approves cash dividend of $0.023 per shareSAN DIEGO, CA / ACCESSWIRE / June 16, 2023 / (NASDAQ:SQFT; SQFTP) Presidio Property Trust, Inc. (\"Presidio\" or the \"Company\"), an internally managed, diversified real estate investment trust (\"REIT\"), today announced that its Board of Directors has authorized a cash dividend of $0.023 per share on its Series A Common Stock for the second quarter of 2023.The dividend will be payable on June 30, 2023, to all stockholders of record as of the close of business on June 27, 2023.About Presidio Property TrustPresidio is an internally managed, diversified REIT with holdings in model home properties which are triple-net leased to homebuilders, office, industrial, and retail properties. Presidio's model homes are leased to homebuilders located in Arizona, Illinois, Texas, Wisconsin, and Florida. Our office, industrial and retail properties are located primarily in Colorado, with properties also located in Maryland, North Dakota, Texas, and Southern California. While geographical clustering of real estate enables us to reduce our operating costs through economies of scale by servicing several properties with less staff, it makes us susceptible to changing market conditions in these discrete geographic areas, including those that have developed as a result of COVID-19. Presidio is also the sponsor of the Special Purpose Acquisition Company (SPAC) Murphy Canyon Acquisition Corp. (NASDAQ: MURF), which currently holds approximately $23.5 million in trust. Murphy Canyon Acquisition Corp. is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. For more information on Presidio, please visit the Company's website at https://www.PresidioPT.com.Cautionary Note Regarding Forward-Looking StatementsThis press release contains statements that are \"forward-looking statements\" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and other federal securities laws. Forward-looking statements are statements that are not historical, including statements regarding management's intentions, beliefs, exp...