Company: SQFTP
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001437749-25-016828
Chunk: 177

Company: Presidio Property Trust, Inc.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part II, Item 2
Chunk 177
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Stock Repurchase Program. While we will continue to pursue value creating investments, the Board of Directors believes there is significant embedded value in our assets that is yet to be realized by the market. Therefore, returning capital to stockholders through a repurchase program is an attractive use of capital currently. In November 2023, the Board of Directors authorized a stock repurchase program of up to $6.0 million of outstanding shares of our Series A Common Stock and up to $4.0 million of our Series D Preferred Stock which expired in November 2024.  In December 2024, the Board of Directors authorized a stock repurchase program of up to $6.0 million of outstanding shares of our Series A Common Stock and up to $4.0 million of our Series D Preferred Stock, which shall expire in December 2025. During the three months ended March 31, 2025, we did not repurchase any  shares of our Series A Common Stock.  During the three months ended March 31, 2025, the Company repurchased 12,844 shares of our Series D Preferred Stock at an average price of approximately $15.18 per share, including a commission of $0.035 per share, for a total cost of $194,971 for the Series D Preferred Stock. Any repurchased shares are treated as authorized and unissued in accordance with Maryland law and shown as a reduction of stockholders’ equity at cost.

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Stock repurchases for Series A Common Stock.

      Month 
      
      Total Number of Shares Purchased 

      Average Price Paid Per Share 

      Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs 

      Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs 

      January 2025 

     —

     $
     —

     —

     $
     5,956,977

      February 2025 

     —

     —

     —

     5,956,977

      March 2025 

     —

     —

     —

     5,956,977

      Total 

     —

     $
     —

     —

     $
     5,956,977

Stock repurchases for Series D Preferred Stock.

      Month 
      
      Total Number of Shares Purchased 

      Average Price Paid Per Share 

      Total Number of Shares Purchased as Part of Publicly Ann