Tiny REIT Presidio Property Trust (SQFT) has announced the pricing and trading of a new cumulative preferred stock. This is a monthly paying preferred.
The company priced a 9.375% issue for 700,000 shares with 105,000 more available for over allotment.
The issue began trading on the NASDAQ under ticker SQFTP last Friday and closed today (Monday) at $24.60.
Here is the original prospectus.
5 thoughts on “Presidio Property Trust Sells New Preferred Issue”
Hey – if buyers ran HROWL at 8.625% up 100bp, why not this one at 9.375%? It’s a decent bet.
I didn’t buy it, but I’ll probably wish I did.
I got to admit I bought some HROWL today at 25.60. They offerred a secondary at 25.70 so that knocked the price back down. Will go exD next month.
Did anybody buy this high risk POS? I shamefully admit I bought 200 at $24.50 just for no good reason at all. I should be in HDO Hall of Shame doing this. If it goes to $24, I am taking my $100 loss like a man and moving on.
I’m embarrassed to admit I considered it. Right now, I’m sitting on a good number of shares of new issues that I bought for nothing more than flips so I did not add to the pool.
BTW, you need to know that there are a number of companies around the world with the ticker POS. But only one BROKE, that being HOD’s new ETF. I think it’s still in registration.
Yeah, I did. I will put it in the turd drawer and flush it quickly when necessary. My risk rating is definitely lower than SRG PRA, but still higher than full dumpster fire.