Presidio Property Trust, Inc. (NASDAQ: SQFT) has launched the share repurchase program on Friday. Presidio Property disclosed that it has decided to buy back more than $10 million of its outstanding shares of Series A Common Stock after getting authorization from its Board of Directors.
In accordance with the share buyback program, the shares may be bought back from time to time using a variety of methods. The method which the firm may adopt includes open market transactions, privately negotiated transactions, or otherwise, all in compliance with the rules of the SEC and other relevant legal conditions.
Shares of Presidio Property Trust, Inc. (NASDAQ: SQFT) surged 4.20 during the trading session of Thursday. In the past 52-weeks of a trading session, SQFT has witnessed the change of $2.63 and $10.24 from its 52-week low and a high range, respectively. Presidio has recorded an increase of 41.44% from its 52-week low and a decrease of -63.67% from its 52-week high. SQFT has total a market capitalization of $39.43 million at the time of writing.
Furthermore, Presidio Property Trust has earned the reputation as an internally handled, differentiated REIT. It has interests in office, industrial, and retail properties, and model home properties that are triple-net leased to homebuilders. Moreover, Presidio's model homes are leased to homebuilders situated mainly in Texas and Florida and its office, industrial and retail properties are situated mainly in Colorado.