Presidio Property Trust, Inc. Announces Earnings for the Second Quarter Ended June 30, 2024
Presidio Property Trust, Inc. Announces Earnings for the Second Quarter Ended June 30, 2024
SAN DIEGO, CA / ACCESSWIRE / August 14, 2024 / Presidio Property Trust, Inc. (NASDAQ:SQFT)(NASDAQ:SQFTP)(NASDAQ:SQFTW) (the "Company"), an internally managed, diversified real estate investment trust ("REIT"), today reported earnings for its quarter ended June 30, 2024.
加利福尼亞州聖地亞哥/ACCESSWIRE/2024年8月14日/內部管理的多元化房地產投資信託基金(「房地產投資信託基金」)普雷西迪奧房地產信託公司(納斯達克股票代碼:SQFTW)(「公司」)今天公佈了截至2024年6月30日的季度收益。
"During the first and second quarters, we entered into 10 leases with new tenants totaling nearly 36,000 sf. Our tenant retention activity has been particularly noteworthy, as we successfully renewed 78% of expiring square footage during this same period. Our overall leasing outlook is positive" said Gary Katz, the Company's Chief Investment Officer.
「在第一和第二季度,我們簽訂了10份租約,新租戶總面積接近36,000平方英尺。我們的租戶留用活動尤其值得關注,因爲同期我們成功續訂了 78% 的到期面積。我們的整體租賃前景樂觀。」 該公司首席投資官加里·卡茨說。
Three Months Ended June 30, 2024, Financial Results
截至2024年6月30日的三個月,財務業績
Net loss attributable to the Company's common stockholders for the three months ended June 30, 2024 was approximately $12.4 million, or ($1.00) per basic and diluted share, compared to a net loss of approximately $1.8 million, or ($0.15) per basic and diluted share for the three months ended June 30, 2023. The change in net income attributable to the Company's common stockholders was a result of:
截至2024年6月30日的三個月,歸屬於公司普通股股東的淨虧損約爲1,240萬美元,合每股基本和攤薄後虧損1.00美元,而截至2023年6月30日的三個月,淨虧損約爲180萬美元,基本和攤薄後每股虧損(0.15美元)。歸屬於公司普通股股東的淨收益的變化是由於:
Total revenues were approximately $4.6 million for the three months ended June 30, 2024, compared to approximately $4.5 million for the same period in 2023. As of June 30, 2024, we had approximately $130.9 million in net real estate assets including 80 model homes, compared to approximately $138.9 million in net real estate assets including 105 model homes at June 30, 2023. The average number of model homes held during the six months ended June 30, 2024 and 2023 was 84 and 101, respectively. The change in revenue is directly related to the average real estate assets held during the period, new commercial real estate leases, and model home transaction fees earned by the Company during the current period.
General & Administrative ("G&A") expenses for the three months ended June 30, 2024 and 2023 totaled approximately $2.2 million and $1.8 million, respectively. G&A expenses as a percentage of total revenue was 48.0% and 39.9% for the three months ended June 30, 2024 and 2023, respectively. G&A expenses increased by approximately $0.4 million mainly related to the 2024 annual meeting and settlement with Zuma Capital Management LLC ("Zuma Capital") and certain individuals and entities affiliated or associated with Zuma Capital. This included additional consulting fees, higher proxy solicitation fees and legal fees.
During the three months ended June 30, 2024, we recognized a non-cash impairment charge of approximately $0.1 million related to three model homes. The new impairment charges for the three model homes reflects the estimated sales prices for these specific model homes in July and August 2024 as a result of an abnormally short hold period, less than two years, on model homes purchased in 2022. The builder changed its product style in the neighborhoods where these model homes are located, in Texas, after we had purchased the homes. We do not believe these losses are indicative of our overall model home portfolio. During the three months ended June 30, 2024, we sold 15 model homes for approximately $7.4 million and the Company recognized a net gain of approximately $0.8 million. We expect to record a net gain on model home sales in the third quarter of 2024 as well. The Company did not recognize a non-cash impairment to our real estate assets during the three months ended June 30, 2023.
On April 22, 2024, the Company entered into a lockup agreement with Conduit Pharmaceuticals Inc. ("Conduit") pursuant to which the Company agreed not to transfer or sell 2,700,000 of its 4,015,250 shares of Conduit common stock for a period of one year. In consideration for entering into the lockup agreement Conduit issued the Company warrants ("Private CDT Warrants") to purchase 540,000 shares of common stock at an exercise price of $3.12 per share. The Private CDT Warrants have a two year term and are exercisable one year after the date of issue. The Private CDT Warrants meet the ASC 321 scope exception for derivative instruments and are accounted for as a derivative under ASC 815. As such, the Private CDT Warrants were recorded at fair value on the date of issuance and subsequently measured at fair value each period, with changes in fair value reported in gain or loss on Conduit Pharmaceuticals marketable securities. As of April 22, 2024, the Private CDT Warrants were valued at $891,000 based on a Level 3 fair value measurement. As of June 30, 2024, the Private CDT Warrants fair value was adjusted to $156,600, and is included in the total Investment in Conduit marketable securities on the June 30, 2024 condensed and condensed consolidated balance sheet. Our investments in Conduit's common stock (3,990,319 shares of CDT) and public common stock warrants (709,000 warrants of CDTTW) presented on the condensed consolidated balance sheets were measured at fair value using Level 1 market prices, taking into account the adoption of ASU 2022-03 Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions, and totaled approximately $4.3 million as of June 30, 2024. The combined value of our Investment in Conduit Pharmaceuticals marketable securities, including the Private CDT Warrants, totaled $4.4 million as of June 30, 2024. In connection with these fair market value adjustments during the three months ended June 30, 2024, we recorded a net loss on our investment in Conduit of approximately $10.0 million.
截至2024年6月30日的三個月,總收入約爲460萬美元,而2023年同期約爲450萬美元。截至2024年6月30日,我們的房地產淨資產約爲1.309億美元,包括80套樣板房,而截至2023年6月30日,包括105套樣板房的房地產淨資產約爲1.389億美元。在截至2024年6月30日和2023年6月30日的六個月中,平均持有的樣板房數量分別爲84套和101套。收入的變化與該期間持有的平均房地產資產、新的商業房地產租賃以及公司在本期獲得的樣板房交易費用直接相關。
截至2024年6月30日和2023年6月30日的三個月,一般和行政(「G&A」)支出總額分別約爲220萬美元和180萬美元。截至2024年6月30日和2023年6月30日的三個月,併購支出佔總收入的百分比分別爲48.0%和39.9%。併購支出增加了約40萬美元,主要與2024年年會以及與祖瑪資本管理有限責任公司(「祖瑪資本」)以及與祖瑪資本關聯或關聯的某些個人和實體的和解有關。這包括額外的諮詢費、更高的代理招標費和律師費。
在截至2024年6月30日的三個月中,我們確認了與三套樣板房相關的約10萬美元的非現金減值費用。這三套樣板房的新減值費用反映了2024年7月和8月這些特定樣板房的估計銷售價格,這是由於2022年購買的樣板房的持有期異常短,不到兩年。在我們購買房屋後,建築商改變了德克薩斯州這些樣板房所在社區的產品風格。我們認爲這些損失並不代表我們的整體樣板房投資組合。在截至2024年6月30日的三個月中,我們以約740萬美元的價格出售了15套樣板房,公司確認的淨收益約爲80萬美元。我們預計2024年第三季度樣板房銷售也將實現淨增長。在截至2023年6月30日的三個月中,公司沒有確認房地產資產的非現金減值。
2024年4月22日,公司與Conduit Pharmicals Inc.(「Conduit」)簽訂了封鎖協議,根據該協議,公司同意在一年內不轉讓或出售其4,015,250股Conduit普通股中的2700,000股。作爲簽訂封鎖協議的對價,Conduit發行了公司認股權證(「私人CdT認股權證」),以每股3.12美元的行使價購買54萬股普通股。私人cdT認股權證的期限爲兩年,可在發行之日起一年後行使。私人cdT認股權證符合ASC 321衍生工具的範圍例外規定,根據ASC 815被視爲衍生工具。因此,私人CdT認股權證在發行之日按公允價值入賬,隨後每期按公允價值計量,公允價值的變動以Conduit Pharmicals有價證券的損益列報。根據三級公允價值衡量,截至2024年4月22日,私人cdT認股權證的價值爲89.1萬美元。截至2024年6月30日,私人cdT認股權證的公允價值調整爲156,600美元,幷包含在2024年6月30日簡明合併資產負債表中的Conduit有價證券投資總額中。考慮到採用亞利桑那州立大學2022-03年受合同銷售限制的股票證券的公允價值計量,我們在簡明合併資產負債表上出示的Conduit普通股(3,990,319股CDTW認股權證)和公開普通股認股權證(709,000份CDTW認股權證)的投資均採用一級市場價格進行公允價值計量,截至2024年6月30日,總額約爲430萬美元。截至2024年6月30日,我們對Conduit Pharmicals有價證券的投資總價值爲440萬美元,包括私人CDT認股權證。在截至2024年6月30日的三個月中,與這些公允市值調整有關,我們在Conduit的投資淨虧損約爲1,000萬美元。
FFO (non-GAAP) decreased by approximately $0.8 million to approximately $(1.3 million) from $(0.5 million) for the three months ended June 30, 2024 and 2023, respectively. A reconciliation of FFO to net income, the most directly comparable GAAP financial measure, is attached to this press release. However, because FFO excludes depreciation and amortization as well as the changes in the value of the Company's properties that result from use or market conditions, each of which have real economic effects and could materially impact the Company's results from operations, the utility of FFO as a measure of the Company's performance is limited.
截至2024年6月30日和2023年6月30日的三個月,FFO(非公認會計准則)分別從50萬美元(50萬)減少了約80萬美元至約130萬美元。本新聞稿附有FFO與淨收入的對賬,這是最直接可比的GAAP財務指標。但是,由於FFO不包括折舊和攤銷以及因使用或市場條件而導致的公司房產價值的變化,每種變化都具有實際經濟影響,並可能對公司的經營業績產生重大影響,因此FFO作爲衡量公司業績的效用是有限的。
We believe Core FFO (non-GAAP) provides a useful metric in comparing operations between reporting periods and in assessing the sustainability of our ongoing operating performance. Core FFO decreased by about $0.2 million, from approximately $(0.2 million) for the three months ended June 30, 2023, to approximately $(0.4 million) for the three months ended June 30, 2024. A reconciliation of Core FFO to net income, the most directly comparable GAAP financial measure, is attached to this press release.
我們認爲,Core FFO(非公認會計准則)爲比較報告期之間的運營和評估我們持續經營業績的可持續性提供了有用的指標。核心FFO減少了約20萬美元,從截至2023年6月30日的三個月的約20萬美元(20萬)減少到截至2024年6月30日的三個月的約40萬美元(40萬)。本新聞稿附有核心FFO與淨收入的對賬情況,這是最直接可比的GAAP財務指標。
Acquisitions and Dispositions for the three months ended June 30, 2024:
截至2024年6月30日的三個月的收購和處置:
The Company acquired seven model homes for approximately $3.5 million. The purchase price was paid through cash payments of approximately $1.1 million and mortgage notes of approximately $2.4 million.
The Company sold 15 model homes for approximately $7.4 million, net of selling costs and recognized a gain of approximately $0.8 million.
該公司以約350萬美元的價格收購了七套樣板房。收購價款通過約110萬美元的現金支付和約240萬美元的抵押貸款票據支付。
該公司以約740萬美元的價格出售了15套樣板房,扣除銷售成本,並確認了約80萬美元的收益。
Dividends paid during the three months ended June 30, 2024:
在截至2024年6月30日的三個月中支付的股息:
The following is a summary of distributions declared per share of our Series A Common Stock and for our Series D Preferred Stock for the three months ended June 30, 2024 and 2023.
以下是截至2024年6月30日和2023年6月30日的三個月中我們的A系列普通股和D系列優先股的每股申報分配摘要。
Series A Common Stock
A 系列普通股
Quarter Ended |
2024 |
2023 |
||||||
Distributions Declared |
Distributions Declared |
|||||||
June 30th
|
$ |
- |
$ |
0.023 |
||||
Total |
$ |
- |
$ |
0.023 |
季度結束 |
2024 |
2023 |
||||||
已宣佈的發行版 |
已宣佈的發行版 |
|||||||
6 月 30 日 |
$ |
- |
$ |
0.023 |
||||
總計 |
$ |
- |
$ |
0.023 |
Series D Preferred Stock
D 系列優先股
Month |
2024 |
2023 |
||||||
Distributions Declared |
Distributions Declared |
|||||||
April |
$ |
0.19531 |
$ |
0.19531 |
||||
May |
0.19531 |
0.19531 |
||||||
June |
0.19531 |
0.19531 |
||||||
Total |
$ |
0.58593 |
$ |
0.58593 |
月 |
2024 |
2023 |
||||||
已宣佈的發行版 |
已宣佈的發行版 |
|||||||
四月 |
$ |
0.19531 |
$ |
0.19531 |
||||
五月 |
0.19531 |
0.19531 |
||||||
六月 |
0.19531 |
0.19531 |
||||||
總計 |
$ |
0.58593 |
$ |
0.58593 |
About Presidio Property Trust
普雷西迪奧財產信託基金簡介
Presidio is an internally managed, diversified REIT with holdings in model home properties which are triple-net leased to homebuilders, office, industrial, and retail properties. Presidio's model homes are leased to homebuilders located in Arizona, Illinois, Texas, Wisconsin, and Florida. Our office, industrial and retail properties are located primarily in Colorado, with properties also located in Maryland, North Dakota, Texas, and Southern California. While geographical clustering of real estate enables us to reduce our operating costs through economies of scale by servicing several properties with less staff, it makes us susceptible to changing market conditions in these discrete geographic areas, including those that have developed as a result of COVID-19. Presidio owns approximately 6.5% of the outstanding common stock of Conduit Pharmaceuticals Inc., a disease agnostic multi-asset clinical-stage disease-agnostic life science company providing an efficient model for compound development. For more information on Presidio, please visit the Company's website at .
Presidio是一家內部管理的多元化房地產投資信託基金,持有樣板房產,這些房產以三重淨租給房屋建築商、辦公、工業和零售物業。普雷西迪奧的樣板房出租給位於亞利桑那州、伊利諾伊州、德克薩斯州、威斯康星州和佛羅里達州的房屋建築商。我們的辦公、工業和零售物業主要位於科羅拉多州,物業也位於馬里蘭州、北達科他州、德克薩斯州和南加州。儘管房地產的地理集群使我們能夠通過規模經濟降低運營成本,用較少的人員爲幾處房產提供服務,但它使我們容易受到這些分散地理區域不斷變化的市場條件的影響,包括因 COVID-19 而發展的地理區域。普雷西迪奧擁有Conduit Pharmicals Inc. 已發行普通股約6.5%的股份。Conduit Pharmicals Inc. 是一家與疾病無關的多資產臨床階段與疾病無關的生命科學公司,爲化合物開發提供了有效的模型。有關普雷西迪奧的更多信息,請訪問該公司的網站,網址爲。
Definitions
定義
Non-GAAP Financial Measures
非公認會計准則財務指標
Funds from Operations ("FFO") - The Company evaluates performance based on Funds From Operations, which we refer to as FFO, as management believes that FFO represents the most accurate measure of activity and is the basis for distributions paid to equity holders. The Company defines FFO as net income or loss (computed in accordance with GAAP), excluding gains (or losses) from sales of property, hedge ineffectiveness, acquisition costs of newly acquired properties that are not capitalized and lease acquisition costs that are not capitalized plus depreciation and amortization, including amortization of acquired above and below market lease intangibles and impairment charges on properties or investments in non-consolidated REITs, and after adjustments to exclude equity in income or losses from, and, to include the proportionate share of FFO from, non-consolidated REITs.
運營資金(「FFO」)——公司根據運營資金(我們稱之爲FFO)評估業績,因爲管理層認爲FFO是最準確的活動衡量標準,也是向股東支付的分配的基礎。公司將FFO定義爲淨收益或虧損(根據公認會計原則計算),不包括房地產銷售的收益(或虧損)、對沖無效、新收購的未資本化房產的收購成本和未資本化的租賃收購成本加上折舊和攤銷,包括收購的高於和低於市場的租賃無形資產的攤銷和房地產或非合併房地產投資信託基金投資的減值費用,以及調整後不包括收益權益或來自和的損失,包括來自非合併房地產投資信託基金的FFO的比例份額。
However, because FFO excludes depreciation and amortization as well as the changes in the value of the Company's properties that result from use or market conditions, each of which have real economic effects and could materially impact the Company's results from operations, the utility of FFO as a measure of the Company's performance is limited. In addition, other REITs may not calculate FFO in accordance with the NAREIT definition as the Company does, and, accordingly, the Company's FFO may not be comparable to other REITs' FFO. Accordingly, FFO should be considered only as a supplement to net income as a measure of the Company's performance.
但是,由於FFO不包括折舊和攤銷以及因使用或市場條件而導致的公司房產價值的變化,每種變化都具有實際經濟影響,並可能對公司的經營業績產生重大影響,因此FFO作爲衡量公司業績的效用是有限的。此外,其他房地產投資信託基金可能無法像公司那樣根據NAREIT的定義計算FFO,因此,該公司的FFO可能無法與其他房地產投資信託基金的FFO相提並論。因此,FFO應僅被視爲衡量公司業績的淨收入的補充。
Core Funds from Operations ("Core FFO") - We calculate Core FFO by using FFO as defined by NAREIT and adjusting for certain other non-core items. We exclude from our Core FFO calculation acquisition costs, loss on early extinguishment of debt, changes in the fair value of the earn-out, changes in fair value of contingent consideration, non-cash warrant dividends, other non-recuring expenses, and the amortization of stock-based compensation.
來自運營的核心資金(「核心FFO」)-我們使用NareIT定義的FFO並根據某些其他非核心項目進行調整來計算核心FFO。我們在覈心FFO計算中不包括收購成本、提前清償債務的損失、收益公允價值的變化、或有對價公允價值的變化、非現金認股權證分紅、其他非經常性支出以及股票薪酬的攤銷。
We believe Core FFO provides a useful metric in comparing operations between reporting periods and in assessing the sustainability of our ongoing operating performance. Other equity REITs may calculate Core FFO differently or not at all, and, accordingly, the Company's Core FFO may not be comparable to such other REITs' Core FFO.
我們認爲,Core FFO爲比較報告期之間的運營以及評估我們持續經營業績的可持續性提供了有用的指標。其他股票房地產投資信託基金對核心FFO的計算方式可能有所不同或根本不一樣,因此,該公司的核心FFO可能無法與其他房地產投資信託基金的核心FFO相提並論。
Cautionary Note Regarding Forward-Looking Statements
關於前瞻性陳述的警示說明
This press release contains statements that are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and other federal securities laws. Forward-looking statements are statements that are not historical, including statements regarding management's intentions, beliefs, expectations, representations, plans or predictions of the future, and are typically identified by such words as "believe," "expect," "anticipate," "intend," "estimate," "may," "will," "should" and "could." Because such statements include risks, uncertainties and contingencies, actual results may differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements also include statements relating to the closing of the business combination with Conduit within a certain timeframe or at all. These forward-looking statements are based upon the Company's present expectations, but these statements are not guaranteed to occur. Except as required by law, the Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes. Investors should not place undue reliance upon forward-looking statements. For further discussion of the factors that could affect outcomes, please refer to the "Risk Factors" section of the Company's documents filed with the SEC, copies of which are available on the SEC's website, www.sec.gov.
本新聞稿包含1995年《私人證券訴訟改革法》、經修訂的1933年《證券法》第27A條、經修訂的1934年《證券交易法》第21E條以及其他聯邦證券法所指的 「前瞻性陳述」。前瞻性陳述是非歷史陳述,包括有關管理層意圖、信念、預期、陳述、計劃或未來預測的陳述,通常用 「相信」、「期望」、「預期」、「打算」、「估計」、「可能」、「將」、「應該」 和 「可能」 等詞語來識別。由於此類陳述包括風險、不確定性和意外情況,因此實際結果可能與此類前瞻性陳述所表達或暗示的結果存在重大差異。前瞻性陳述還包括與在一定時間範圍內或完全關閉與Conduit的業務合併有關的陳述。這些前瞻性陳述基於公司目前的預期,但不能保證這些陳述會發生。除非法律要求,否則公司沒有義務公開更新或修改任何前瞻性陳述以反映基本假設或因素、新信息、數據或方法、未來事件或其他變化的變化。投資者不應過分依賴前瞻性陳述。有關可能影響結果的因素的進一步討論,請參閱公司向美國證券交易委員會提交的文件的 「風險因素」 部分,這些文件的副本可在美國證券交易委員會的網站www.sec.gov上查閱。
Investor Relations Contact:
投資者關係聯繫人:
Presidio Property Trust, Inc.
Lowell Hartkorn, Investor Relations
LHartkorn@presidiopt.com
Telephone: (760) 471-8536 x1244
普雷西迪奧房地產信託公司
洛厄爾·哈特科恩,投資者關係
LHartkorn@presidiopt.com
電話:(760) 471-8536 x1244
Presidio Property Trust, Inc. and Subsidiaries
Consolidated Balance Sheets
普雷西迪奧房地產信託公司及其子公司
合併資產負債表
June 30, |
December 31, |
|||||||
2024 |
2023 |
|||||||
(Unaudited) |
||||||||
ASSETS |
||||||||
Real estate assets and lease intangibles: |
||||||||
Land |
$ |
19,409,817 |
$ |
21,660,644 |
||||
Buildings and improvements |
126,439,142 |
133,829,416 |
||||||
Tenant improvements |
18,823,656 |
17,820,948 |
||||||
Lease intangibles |
3,776,654 |
4,110,139 |
||||||
Real estate assets and lease intangibles held for investment, cost |
168,449,269 |
177,421,147 |
||||||
Accumulated depreciation and amortization |
(39,951,401) | (38,725,356) | ||||||
Real estate assets and lease intangibles held for investment, net |
128,497,868 |
138,695,791 |
||||||
Real estate assets held for sale, net |
2,394,363 |
5,459,993 |
||||||
Real estate assets, net |
130,892,231 |
144,155,784 |
||||||
Other assets: |
||||||||
Cash, cash equivalents and restricted cash |
8,534,881 |
6,510,428 |
||||||
Deferred leasing costs, net |
1,565,169 |
1,657,055 |
||||||
Goodwill |
1,574,000 |
1,574,000 |
||||||
Investment in Conduit Pharmaceuticals marketable securities (see Notes 2 & 9) |
4,413,989 |
18,318,521 |
||||||
Deferred tax asset |
346,762 |
346,762 |
||||||
Other assets, net (see Note 6) |
3,211,251 |
3,400,088 |
||||||
Total other assets |
19,646,052 |
31,806,854 |
||||||
TOTAL ASSETS |
$ |
150,538,283 |
$ |
175,962,638 |
||||
LIABILITIES AND EQUITY |
||||||||
Liabilities: |
||||||||
Mortgage notes payable, net |
$ |
99,489,045 |
$ |
103,685,444 |
||||
Mortgage notes payable related to properties held for sale, net |
1,636,341 |
4,027,829 |
||||||
Mortgage notes payable, total net |
101,125,386 |
107,713,273 |
||||||
Accounts payable and accrued liabilities |
3,501,779 |
4,770,845 |
||||||
Accrued real estate taxes |
1,097,854 |
1,953,087 |
||||||
Dividends payable |
195,310 |
174,011 |
||||||
Lease liability, net |
- |
16,086 |
||||||
Below-market leases, net |
10,779 |
13,266 |
||||||
Total liabilities |
105,931,108 |
114,640,568 |
||||||
Equity: |
||||||||
Series D Preferred Stock, $0.01 par value per share; 1,000,000 shares authorized; 1,000,000 shares issued and outstanding (liquidation preference $25.00 per share) as of June 30, 2024 and 890,946 shares issued and outstanding as of December 31, 2023 |
10,000 |
8,909 |
||||||
Series A Common Stock, $0.01 par value per share, 100,000,000 shares authorized; 12,418,693 shares and 12,265,061 shares were issued and outstanding at June 30, 2024 and December 31, 2023, respectively |
124,187 |
122,651 |
||||||
Additional paid-in capital |
184,402,052 |
182,331,408 |
||||||
Dividends and accumulated losses |
(149,663,851) | (131,508,785) | ||||||
Total stockholders' equity before noncontrolling interest |
34,872,388 |
50,954,183 |
||||||
Noncontrolling interest |
9,734,787 |
10,367,887 |
||||||
Total equity |
44,607,175 |
61,322,070 |
||||||
TOTAL LIABILITIES AND EQUITY |
$ |
150,538,283 |
$ |
175,962,638 |
6月30日 |
十二月三十一日 |
|||||||
2024 |
2023 |
|||||||
(未經審計) |
||||||||
資產 |
||||||||
房地產資產和租賃無形資產: |
||||||||
土地 |
$ |
19,409,817 |
$ |
21,660,644 |
||||
建築物和裝修 |
126,439,142 |
133,829,416 |
||||||
租戶改進 |
18,823,656 |
17,820,948 |
||||||
租賃無形資產 |
3,776,654 |
4,110,139 |
||||||
爲投資、成本而持有的房地產資產和租賃無形資產 |
168,449,269 |
177,421,147 |
||||||
累計折舊和攤銷 |
(39,951,401) | (38,725,356) | ||||||
持有用於投資的房地產資產和租賃無形資產,淨額 |
128,497,868 |
138,695,791 |
||||||
待售房地產資產,淨額 |
2,394,363 |
5,459,993 |
||||||
房地產資產,淨額 |
130,892,231 |
144,155,784 |
||||||
其他資產: |
||||||||
現金、現金等價物和限制性現金 |
8,534,881 |
6,510,428 |
||||||
遞延租賃成本,淨額 |
1,565,169 |
1,657,055 |
||||||
善意 |
1,574,000 |
1,574,000 |
||||||
投資Conduit Pharmicals有價證券(見附註2和9) |
4,413,989 |
18,318,521 |
||||||
遞延所得稅資產 |
346,762 |
346,762 |
||||||
其他資產,淨額(見附註6) |
3,211,251 |
3,400,088 |
||||||
其他資產總額 |
19,646,052 |
31,806,854 |
||||||
總資產 |
$ |
150,538,283 |
$ |
175,962,638 |
||||
負債和權益 |
||||||||
負債: |
||||||||
應付抵押貸款票據,淨額 |
$ |
99,489,045 |
$ |
103,685,444 |
||||
與待售房產相關的應付抵押貸款票據,淨額 |
1,636,341 |
4,027,829 |
||||||
應付抵押貸款票據,總額淨額 |
101,125,386 |
107,713,273 |
||||||
應付賬款和應計負債 |
3,501,779 |
4,770,845 |
||||||
應計房地產稅 |
1,097,854 |
1,953,087 |
||||||
應付股息 |
195,310 |
174,011 |
||||||
租賃負債,淨額 |
- |
16,086 |
||||||
低於市場的租約,淨額 |
10,779 |
13,266 |
||||||
負債總額 |
105,931,108 |
114,640,568 |
||||||
股權: |
||||||||
D 系列優先股,每股面值0.01美元;授權1,000,000股;截至2024年6月30日,已發行和流通1,000,000股(清算優先權每股25.00美元),截至2023年12月31日已發行和流通的890,946股股票 |
1萬個 |
8,909 |
||||||
A系列普通股,每股面值0.01美元,授權1億股;截至2024年6月30日和2023年12月31日,已分別發行和流通12,418,693股和12,265,061股 |
124,187 |
122,651 |
||||||
額外的實收資本 |
184,402,052 |
182,331,408 |
||||||
股息和累計虧損 |
(149,663,851) | (131,508,785) | ||||||
扣除非控股權益前的股東權益總額 |
34,872,388 |
50,954,183 |
||||||
非控股權益 |
9,734,787 |
10,367,887 |
||||||
權益總額 |
44,607,175 |
61,322,070 |
||||||
負債和權益總額 |
$ |
150,538,283 |
$ |
175,962,638 |
Presidio Property Trust, Inc. and Subsidiaries
Consolidated Statements of Operations
普雷西迪奧房地產信託公司及其子公司
合併運營報表
For the Three Months Ended June 30, |
For the Six Months Ended June 30, |
|||||||||||||||
2024 |
2023 |
2024 |
2023 |
|||||||||||||
Revenues: |
||||||||||||||||
Rental income |
$ |
4,262,942 |
$ |
4,329,588 |
$ |
8,682,049 |
$ |
8,271,641 |
||||||||
Fees and other income |
323,599 |
214,284 |
694,554 |
393,723 |
||||||||||||
Total revenue |
4,586,541 |
4,543,872 |
9,376,603 |
8,665,364 |
||||||||||||
Costs and expenses: |
||||||||||||||||
Rental operating costs |
1,492,495 |
1,399,159 |
3,056,072 |
2,974,149 |
||||||||||||
General and administrative |
2,202,916 |
1,813,184 |
4,287,366 |
3,777,804 |
||||||||||||
Depreciation and amortization |
1,351,370 |
1,368,829 |
2,702,388 |
2,702,403 |
||||||||||||
Impairment of real estate assets |
101,245 |
- |
196,793 |
- |
||||||||||||
Total costs and expenses |
5,148,026 |
4,581,172 |
10,242,619 |
9,454,356 |
||||||||||||
Other income (expense): |
||||||||||||||||
Interest expense - mortgage notes |
(1,525,845) | (1,336,415) | (3,041,051) | (2,204,182) | ||||||||||||
Interest and other income, net |
5,206 |
398,085 |
9,852 |
1,140,201 |
||||||||||||
Gain on sales of real estate, net |
811,903 |
1,119,952 |
2,829,998 |
1,537,289 |
||||||||||||
Net change in Conduit Pharmaceuticals marketable securities (see footnote 9) |
(10,027,433) | - |
(13,888,667) | - |
||||||||||||
Income tax expense |
(81,021) | (349,074) | (160,586) | (497,527) | ||||||||||||
Total other (expense) income, net |
(10,817,190) | (167,452) | (14,250,454) | (24,219) | ||||||||||||
Net loss |
(11,378,675) | (204,752) | (15,116,470) | (813,211) | ||||||||||||
Less: Income attributable to noncontrolling interests |
(469,365) | (1,094,852) | (1,973,233) | (1,481,933) | ||||||||||||
Net loss attributable to Presidio Property Trust, Inc. stockholders |
$ |
(11,848,040) | $ |
(1,299,604) | $ |
(17,089,703) | $ |
(2,295,144) | ||||||||
Less: Preferred Stock Series D dividends |
(543,331) | (532,285) | (1,065,363) | (1,067,733) | ||||||||||||
Net loss attributable to Presidio Property Trust, Inc. common stockholders |
$ |
(12,391,371) | $ |
(1,831,889) | $ |
(18,155,066) | $ |
(3,362,877) | ||||||||
Net loss per share attributable to Presidio Property Trust, Inc. common stockholders: |
||||||||||||||||
Basic & Diluted |
$ |
(1.00) | $ |
(0.15) | $ |
(1.47) | $ |
(0.28) | ||||||||
Weighted average number of common shares outstanding - basic & dilutive |
12,428,794 |
11,839,359 |
12,360,992 |
11,837,020 |
在截至6月30日的三個月中 |
在截至6月30日的六個月中 |
|||||||||||||||
2024 |
2023 |
2024 |
2023 |
|||||||||||||
收入: |
||||||||||||||||
租金收入 |
$ |
4,262,942 |
$ |
4,329,588 |
$ |
8,682,049 |
$ |
8,271,641 |
||||||||
費用和其他收入 |
323,599 |
214,284 |
694,554 |
393,723 |
||||||||||||
總收入 |
4,586,541 |
4,543,872 |
9,376,603 |
8,665,364 |
||||||||||||
成本和支出: |
||||||||||||||||
租金運營成本 |
1,492,495 |
1,399,159 |
3,056,072 |
2,974,149 |
||||||||||||
一般和行政 |
2,202,916 |
1,813,184 |
4,287,366 |
3,777,804 |
||||||||||||
折舊和攤銷 |
1,351,370 |
1,368,829 |
2,702,388 |
2,702,403 |
||||||||||||
房地產資產減值 |
101,245 |
- |
196,793 |
- |
||||||||||||
成本和支出總額 |
5,148,026 |
4,581,172 |
10,242,619 |
9,454,356 |
||||||||||||
其他收入(支出): |
||||||||||||||||
利息支出——抵押貸款票據 |
(1,525,845) | (1,336,415) | (3,041,051) | (2,204,182) | ||||||||||||
利息和其他收入,淨額 |
5,206 |
398,085 |
9,852 |
1,140,201 |
||||||||||||
房地產銷售收益,淨額 |
811,903 |
1,119,952 |
2,829,998 |
1,537,289 |
||||||||||||
Conduit Pharmicals有價證券的淨變動(見腳註9) |
(10,027,433) | - |
(13,888,667) | - |
||||||||||||
所得稅支出 |
(81,021) | (349,074) | (160,586) | (497,527) | ||||||||||||
其他(支出)收入總額,淨額 |
(10,817,190) | (167,452) | (14,250,454) | (24,219) | ||||||||||||
淨虧損 |
(11,378,675) | (204,752) | (15,116,470) | (813,211) | ||||||||||||
減去:歸屬於非控股權益的收益 |
(469,365) | (1,094,852) | (1,973,233) | (1,481,933) | ||||||||||||
歸屬於普雷西迪奧房地產信託公司股東的淨虧損 |
$ |
(11,848,040) | $ |
(1,299,604) | $ |
(17,089,703) | $ |
(2,295,144) | ||||||||
減去:優先股D系列股息 |
(543,331) | (532,285) | (1,065,363) | (1,067,733) | ||||||||||||
歸屬於普雷西迪奧房地產信託公司普通股股東的淨虧損 |
$ |
(12,391,371) | $ |
(1,831,889) | $ |
(18,155,066) | $ |
(3,362,877) | ||||||||
歸屬於普雷西迪奧房地產信託公司普通股股東的每股淨虧損: |
||||||||||||||||
基礎版和稀釋版 |
$ |
(1.00) | $ |
(0.15) | $ |
(1.47) | $ |
(0.28) | ||||||||
已發行普通股的加權平均數——基本股和攤薄股 |
12,428,794 |
11,839,359 |
12,360,992 |
11,837,020 |
FFO AND CORE FFO RECONCILIATION
FFO 和核心 FFO 對賬
For the Three Months
Ended June 30,
|
For the Six
Months Ended June,
|
|||||||||||||||
2024 |
2023 |
2024 |
2023 |
|||||||||||||
Net (loss) income attributable to Presidio Property Trust, Inc. common stockholders |
$ |
(12,391,371) | $ |
(1,831,889) | $ |
(18,155,066) | $ |
(3,362,877) | ||||||||
Adjustments: |
||||||||||||||||
Income attributable to noncontrolling interests |
469,365 |
1,094,852 |
1,973,233 |
1,481,933 |
||||||||||||
Depreciation and amortization |
1,351,370 |
1,368,829 |
2,702,388 |
2,702,403 |
||||||||||||
Amortization of above and below market leases, net |
(1,244) | (1,244) | (2,487) | (2,487) | ||||||||||||
Impairment of real estate assets |
101,245 |
- |
196,793 |
- |
||||||||||||
Net change in Conduit marketable securities |
10,027,433 |
- |
13,888,667 |
- |
||||||||||||
Loss (gain) on sale of real estate assets, net |
(811,903) | (1,119,952) | (2,829,998) | (1,537,289) | ||||||||||||
FFO |
$ |
(1,255,105) | $ |
(489,404) | $ |
(2,226,471) | $ |
(718,317) | ||||||||
Restricted stock compensation |
343,107 |
260,845 |
885,029 |
540,501 |
||||||||||||
Cost associated with Zuma Capital Management |
469,552 |
- |
565,534 |
- |
||||||||||||
Core FFO |
$ |
(442,445) | $ |
(228,558) | $ |
(775,908) | $ |
(177,816) | ||||||||
Weighted average number of common shares outstanding - basic and diluted |
12,428,794 |
11,839,359 |
12,360,992 |
11,837,020 |
||||||||||||
Core FFO / Wgt Avg Share |
$ |
(0.036) | $ |
(0.019) | $ |
(0.063) | $ |
(0.015) | ||||||||
Quarterly Dividends / Share |
$ |
- |
$ |
0.022 |
$ |
- |
$ |
0.023 |
在這三個月裏
已於6月30日結束
|
對於六人來說
截至六月的月份,
|
|||||||||||||||
2024 |
2023 |
2024 |
2023 |
|||||||||||||
歸屬於普雷西迪奧房地產信託公司普通股股東的淨(虧損)收益 |
$ |
(12,391,371) | $ |
(1,831,889) | $ |
(18,155,066) | $ |
(3,362,877) | ||||||||
調整: |
||||||||||||||||
歸屬於非控股權益的收益 |
469,365 |
1,094,852 |
1,973,233 |
1,481,933 |
||||||||||||
折舊和攤銷 |
1,351,370 |
1,368,829 |
2,702,388 |
2,702,403 |
||||||||||||
市場以上和以下租賃的攤銷,淨額 |
(1,244) | (1,244) | (2,487) | (2,487) | ||||||||||||
房地產資產減值 |
101,245 |
- |
196,793 |
- |
||||||||||||
Conduit 有價證券的淨變動 |
10,027,433 |
- |
13,888,667 |
- |
||||||||||||
出售房地產資產的虧損(收益),淨額 |
(811,903) | (1,119,952) | (2,829,998) | (1,537,289) | ||||||||||||
FFO |
$ |
(1,255,105) | $ |
(489,404) | $ |
(2,226,471) | $ |
(718,317) | ||||||||
限制性股票補償 |
343,107 |
260,845 |
885,029 |
540,501 |
||||||||||||
與祖瑪資本管理相關的成本 |
469,552 |
- |
565,534 |
- |
||||||||||||
核心 FFO |
$ |
(442,445) | $ |
(228,558) | $ |
(775,908) | $ |
(177,816) | ||||||||
已發行普通股的加權平均數——基本股和攤薄後的普通股 |
12,428,794 |
11,839,359 |
12,360,992 |
11,837,020 |
||||||||||||
核心 FFO/Wgt 平均份額 |
$ |
(0.036) | $ |
(0.019) | $ |
(0.063) | $ |
(0.015) | ||||||||
季度分紅/股 |
$ |
- |
$ |
0.022 |
$ |
- |
$ |
0.023 |
SOURCE: Presidio Property Trust
來源:普雷西迪奧房地產信託基金
譯文內容由第三人軟體翻譯。