earnings
confidence high
sentiment negative
materiality 0.75
Presidio Q2 net loss $5.9M ($5.13/sh); impairments total $4.3M; revenue $4.4M
Presidio Property Trust, Inc.
- Net loss of $5.9M ($5.13 diluted) vs $12.4M loss ($9.97) in Q2 2024; loss narrowed but remains negative.
- Total revenues $4.4M, down from $4.6M YoY; G&A expenses halved to $1.2M.
- Impairment charges of $4.3M: $3.3M on Dakota Center (pending short sale) and $0.9M on Shea Center II.
- Sold 7 model homes for $3.1M net (gain $0.3M); acquired 10 model homes for $5.1M.
- Core FFO improved to -$95k from -$0.4M; Series D preferred dividends unchanged at $0.58593/sh.