Terms

Series

9.375% Series D Cumulative Redeemable Perpetual Preferred Stock

Liquidation Preference

$25.00

Coupon Rate

9.375%

Rate Type

Fixed

Annual Dividend

$2.34

Payment Frequency

Monthly

Cumulative

Yes

Perpetual

Yes

Convertible

No

Callable

Yes

First Call Date

June 15, 2026

First Call Price

$25.00

Capital Stack Ranking

Junior To: All Existing And Future Indebtedness Of The Issuer, Indebtedness And Liabilities Of Subsidiaries, Preferred Equity Interests Held By Others In Subsidiaries, Equity Securities With Terms Specifically Providing Seniority Over Series D Preferred Stock; Pari Passu With: Equity Securities With Terms Specifically Providing Parity With Series D Preferred Stock; Senior To: Common Stock, All Other Equity Securities Without Senior Or Parity Designation

Regulatory (Basel III) Call

No

Tax Classification

Reit Passthrough

Qualifies for QDI

No

Qualifies for DRD

No

Shares Offered

800,000

Prospectus Summary

Presidio Property Trust, Inc. (Nasdaq: SQFTP) is offering 800,000 shares of its 9.375% Series D Cumulative Redeemable Perpetual Preferred Stock at a liquidation preference of $25.00 per share, paying a fixed annual dividend of $2.34375 per share (9.375% of liquidation preference) on a monthly basis on the 15th of each month. The stock is callable at $25.00 beginning June 15, 2026, and may also be redeemed prior to that date upon a Change of Control. Dividends are cumulative, meaning any missed payments accrue and must be paid in full before any distributions can be made to common stockholders. The Series D Preferred Stock sits above common stock in Presidio's capital structure but is effectively junior to all existing and future debt of the company and to the indebtedness and other liabilities of its subsidiaries. As a holding company, Presidio's preferred stockholders face structural subordination — the preferred ranks behind all creditors at both the parent and subsidiary levels, and behind any preferred equity interests held by third parties in subsidiaries. There is no bank regulatory capital call provision; however, the company reserves the right to redeem prior to June 15, 2026 solely to preserve its REIT tax status under its charter. At the $25.00 offering price, the effective yield is 9.375% per annum, paid monthly on the 15th of each month, with record dates set as the last day of the preceding calendar month. As a REIT issuer, dividends are generally not eligible for the preferential qualified dividend income (QDI) rate available to individual investors, nor for the dividends-received deduction (DRD) for corporate holders; distributions may be characterized as ordinary income, capital gain, or return of capital depending on the company's earnings. If dividends fall into arrears for 18 or more monthly periods, holders gain the right to elect two additional directors to the board — a protective mechanism that signals financial stress but does not itself cure the arrears.

Summarized from the SEC prospectus filing.

Distribution History

Ranking vs. Other Preferreds

Dividend Stopper Provisions

Dividend Stopper Description

If dividends are in arrears for 18 or more monthly periods, common and junior preferred stock dividends are effectively restricted, and holders of Series D Preferred Stock gain the right to elect two additional board directors until all accumulated dividends are paid or set apart.

Div Score Breakdown

Reinvesty's multi-factor safety analysis for this preferred, composite score: 51 (Average)