secwatch.observer — SEC 8-K summary
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Issuer:     Presidio Property Trust, Inc. (SQFT)
CIK:        0001080657
Form:       8-K
Filed at:   2024-05-15T23:59:59+00:00
Accession:  0001493152-24-019351
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Presidio Property Trust Q1 net loss widens to $5.8M; common dividend suspended
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- Net loss attributable to common stockholders: $5.8M ($0.47/sh) vs $1.5M ($0.13/sh) in Q1 2023.
- Total revenues increased to $4.8M from $4.1M; model home sales rose to 27 homes with $2.0M gain.
- Non-cash impairment of $0.1M on four model homes; fair value loss on Conduit Pharmaceuticals securities of $3.9M.
- FFO worsened to ($971,367) from ($228,914); Core FFO negative ($429,445) vs positive $31,932 year ago.
- Series A common dividend declared $0.00 in Q1 2024 vs $0.022 in Q1 2023; Series D preferred steady at $0.58593.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1080657/000149315224019351/0001493152-24-019351-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1080657/000149315224019351/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-019351

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer