--- title: "Presidio Property Trust | 8-K: FY2026 Q1 Revenue: USD 3.773 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/286753599.md" datetime: "2026-05-18T10:18:31.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/286753599.md) - [en](https://longbridge.com/en/news/286753599.md) - [zh-HK](https://longbridge.com/zh-HK/news/286753599.md) --- # Presidio Property Trust | 8-K: FY2026 Q1 Revenue: USD 3.773 M Revenue: As of FY2026 Q1, the actual value is USD 3.773 M. EPS: As of FY2026 Q1, the actual value is USD -0.1. EBIT: As of FY2026 Q1, the actual value is USD 1.076 M. Presidio Property Trust, Inc. reported a net loss attributable to common stockholders of - $129,632, or - $0.10 per basic and diluted share, for the three months ended March 31, 2026, compared to a net income of approximately $1.7 million, or $1.31 per basic and diluted share, for the same period in 2025 . The company’s net income was $558,794 in 2026, a decrease from $2,376,915 in 2025 . #### Total Revenues Total revenues were approximately $3.8 million for the three months ended March 31, 2026, decreasing from approximately $4.1 million for the same period in 2025, primarily due to a decrease in commercial real estate rental income from the sale of Dakota Center . Total revenue was $3,772,800 in 2026, down from $4,125,184 in 2025 . Rental income specifically decreased to $3,684,044 in 2026 from $4,032,429 in 2025, while fees and other income slightly declined to $88,756 in 2026 from $92,755 in 2025 . #### Segment Revenue (Three Months Ended March 31, 2026) - **Retail**: $93,574 - **Office/Industrial**: $2,753,380 - **Model Homes**: $925,424 - **Corporate and Other**: $422 #### Operational Costs and Expenses Total costs and expenses increased to $4,741,606 in 2026 from $4,545,667 in 2025 . **Rental Operating Costs**: Totaled approximately $1.5 million for the three months ended March 31, 2026, down from approximately $1.6 million for the same period in 2025 . As a percentage of total revenue, rental operating costs were approximately 35% in 2026, compared to 39% in 2025 . The specific figure for 2026 was $1,544,441, decreased from $1,612,642 in 2025 . **General and Administrative (G&A) Expenses**: Remained constant at approximately $1.7 million for both periods , specifically $1,673,823 in 2026, slightly up from $1,661,978 in 2025 . As a percentage of total revenue, G&A expenses were 44.4% in 2026, up from 40.3% in 2025 . **Depreciation and Amortization**: Decreased to $998,969 in 2026 from $1,244,104 in 2025 . **Impairment Charges**: The company recognized non-cash impairment charges of $524,373 for the three months ended March 31, 2026, significantly higher than $26,943 for the same period in 2025 . Approximately $0.4 million of the 2026 impairment charge was related to the Shea Center II . **Interest Expense**: Interest expense, including amortization of deferred finance charges, was approximately $2.1 million for the three months ended March 31, 2026, an increase from approximately $1.5 million for the same period in 2025 . The weighted average interest rate on outstanding debt was 6.29% as of March 31, 2026, compared to 5.83% as of March 31, 2025 . Approximately $0.7 million of the 2026 interest expense was a one-time charge for default interest on the Dakota Center loan, and $0.1 million was related to the Shea Center II loan . #### Net Operating Income (NOI) - **Total Net Operating Income (NOI)**: $2,228,359 - **Retail NOI**: $88,742 - **Office/Industrial NOI**: $1,122,543 - **Model Homes NOI**: $876,547 - **Corporate and Other NOI**: $140,527 #### Adjusted NOI - **Total Adjusted NOI**: $2,324,816 - **Retail Adjusted NOI**: $88,742 - **Office/Industrial Adjusted NOI**: $1,122,543 - **Model Homes Adjusted NOI**: $973,004 (includes $172,096 gain on sale and - $75,639 impairment) - **Corporate and Other Adjusted NOI**: $140,527 #### Cash Flow - **Net Cash Used in Operating Activities**: - $957,203 in 2026, an increase in cash used from - $118,905 in 2025 . - **Net Cash Provided by Investing Activities**: $6,886,216 in 2026, down from $13,553,064 in 2025 . - **Net Cash Used in Financing Activities**: - $8,179,469 in 2026, a decrease in cash used from - $9,513,802 in 2025 . - **Cash, Cash Equivalents and Restricted Cash (End of Period)**: $5,171,903 in 2026, decreased from $11,956,853 in 2025 . #### Unique Metrics - **Net Real Estate Assets**: As of March 31, 2026, net real estate assets were approximately $100.5 million, including 75 model homes, compared to approximately $117.4 million, including 84 model homes, at March 31, 2025 . The average number of model homes held during Q1 2026 and 2025 was approximately 78 and 81, respectively . Real estate assets, net, were $100,494,606 as of March 31, 2026, down from $108,649,704 as of December 31, 2025 . - **Funds from Operations (FFO)**: FFO (non-GAAP) totaled - $2,080,231 for the three months ended March 31, 2026, compared to - $1,209,945 for the same period in 2025 . - **Core Funds from Operations (Core FFO)**: Core FFO (non-GAAP) was - $1,888,598 for the three months ended March 31, 2026, a decrease from - $980,443 for the same period in 2025 . - **Core FFO / Weighted Average Share**: - $1.44 in 2026, compared to - $0.76 in 2025 . - **EBITDAre**: - $129,985 in 2026, compared to $163,553 in 2025 . #### Acquisitions and Dispositions The company acquired no model homes or commercial properties during the three months ended March 31, 2026 . On January 14, 2026, Presidio Property Trust, Inc. sold one commercial property, Dakota Center, for approximately $4.7 million net of selling costs, recognizing a net gain of approximately $3.4 million on the disposition of assets and liabilities . Additionally, 5 model homes were sold for approximately $2.3 million net of sales costs, recognizing a gain of approximately $0.2 million . #### Balance Sheet Highlights (as of March 31, 2026 vs. December 31, 2025) - **Total Assets**: $111,246,775 as of March 31, 2026, compared to $122,052,874 as of December 31, 2025 . - **Total Liabilities**: $86,092,552 as of March 31, 2026, compared to $97,395,227 as of December 31, 2025 . - **Total Equity**: $25,154,223 as of March 31, 2026, compared to $24,657,647 as of December 31, 2025 . - **Mortgage Notes Payable, Total Net**: $81,633,567 as of March 31, 2026, compared to $92,074,367 as of December 31, 2025 . - **Existing Secured Debt**: $82.4 million as of March 31, 2026 . #### Outlook / Guidance Management expects future interest expenses to continue to decrease for the year ended 2026 . The company is actively looking to reduce G&A expenses, with a reduction in employee headcount in Q1 2026 and further reductions expected . 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