Presidio Property Trust posts Q1 net loss of $130K vs prior-year income; revenue down 7%

Presidio Property Trust, Inc.

Net loss of ~$130K vs $1.7M income a year ago; diluted EPS -$0.10 vs +$1.31.
Total revenue $3.8M, down from $4.1M, driven by Dakota Center sale and lower commercial income.
Impairment charge of $524K (Shea Center II) and $3.4M gain on Dakota Center sale.
FFO (non-GAAP) worsened to -$2.1M from -$1.2M; Core FFO -$1.9M from -$1.0M.
CEO took 5% pay cut; board reducing one director; loan amended to lower floor rate by 1.5 points.

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