Presidio Property Trust (NASDAQ:SQFT) Stock Falls 10% in a Week: Now What?

Real estate investment trusts have become a pretty popular option for investors in recent years but on Tuesday, the Presidio Property Trust (NASDAQ:SQFT) saw its stock go one a bit of a downward spiral.

Yesterday the company declared the dividend that is going to be paid out for its 9.375% Series D Cumulative Redeemable Perpetual Preferred Stock for July 2021. The dividend payout had been approved by the members of the company’s board as well.

The company announced that the dividend is going to be $0.19531 per share for those shares and it is going to be paid out to investors of record as of July 30, 2021. The payment is going to be made in cash on August 16, 2021.

However, it seems that investors were not particularly happy with the magnitude of the payout that was announced by the Presidio Property Trust and its stock did not make a recovery. Over the course of the past week or so, the stock has declined by as much as 9%. At this point in time, it is going to be interesting to see if more investors flock to the stock ahead of July 30.

Market Reaction:

On Tuesday, SQFT stock jumped 1.64% at $4.35 with more than 70k shares, compared to its average volume of 461K shares. The stock has moved within a range of $4.2100 – 4.4300 after opening the trade at $4.36. Over the past 52-week, the stock has been trading within a range of $2.6300 – 10.2400.