10-K Filing

PRESIDIO PROPERTY TRUST, INC. CIK: 1080657 FY 2019

Filing Information

Form Type	10-K
Accession Number	`0001080657-20-000013`
Period End Date	20191231
Filing Date	20200313
Fiscal Year	2019
Fiscal Period	FY
XBRL Instance	sqft-20191231_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 63 Income Statement 48 Cash Flow Statement 74 Stockholders Equity 15

Balance Sheet 63 line items

Line Item	Tag	Value	Unit	Period
Land	`Land`	$27.41M	USD	Point-in-time
Land	`Land`	$26.82M	USD	Point-in-time
Buildings and improvements	`InvestmentBuildingAndBuildingImprovements`	$141.65M	USD	Point-in-time
Buildings and improvements	`InvestmentBuildingAndBuildingImprovements`	$141.81M	USD	Point-in-time
Tenant improvements	`TenantImprovements`	$14.74M	USD	Point-in-time
Tenant improvements	`TenantImprovements`	$12.74M	USD	Point-in-time
Lease intangibles	`FiniteLivedIntangibleAssetsNetOfAmountsIncludedInRealEstateAssetsHeldForSale`	$6.55M	USD	Point-in-time
Lease intangibles	`FiniteLivedIntangibleAssetsNetOfAmountsIncludedInRealEstateAssetsHeldForSale`	$5.32M	USD	Point-in-time
Real estate assets and lease intangibles held for investment, cost	`RealEstateInvestmentPropertyAndLeaseIntangiblesHeldForInvestmentAtCost`	$187.91M	USD	Point-in-time
Real estate assets and lease intangibles held for investment, cost	`RealEstateInvestmentPropertyAndLeaseIntangiblesHeldForInvestmentAtCost`	$189.12M	USD	Point-in-time
Accumulated depreciation and amortization	`RealEstateInvestmentPropertyAndLeaseIntangiblesAccumulatedDepreciationAndAmortization`	$30.20M	USD	Point-in-time
Accumulated depreciation and amortization	`RealEstateInvestmentPropertyAndLeaseIntangiblesAccumulatedDepreciationAndAmortization`	$26.31M	USD	Point-in-time
Real estate assets and lease intangibles held for investment, net	`RealEstateInvestmentPropertyAndLeaseIntangiblesHeldForInvestmentNet`	$161.60M	USD	Point-in-time
Real estate assets and lease intangibles held for investment, net	`RealEstateInvestmentPropertyAndLeaseIntangiblesHeldForInvestmentNet`	$158.92M	USD	Point-in-time
Real estate assets held for sale, net	`RealEstateHeldforsale`	$49.50M	USD	Point-in-time
Real estate assets held for sale, net	`RealEstateHeldforsale`	$41.29M	USD	Point-in-time
Real estate assets, net	`RealEstateInvestmentPropertyAndLeaseIntangiblesHeldForInvestmentAndRealEstateHeldForSaleNet`	$211.11M	USD	Point-in-time
Real estate assets, net	`RealEstateInvestmentPropertyAndLeaseIntangiblesHeldForInvestmentAndRealEstateHeldForSaleNet`	$200.21M	USD	Point-in-time
Cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$9.78M	USD	Point-in-time
Cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.31M	USD	Point-in-time
Cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$10.39M	USD	Point-in-time
Deferred leasing costs, net	`DeferredCostsLeasingNet`	$2.05M	USD	Point-in-time
Deferred leasing costs, net	`DeferredCostsLeasingNet`	$2.10M	USD	Point-in-time
Goodwill	`Goodwill`	$2.42M	USD	Point-in-time
Goodwill	`Goodwill`	$2.42M	USD	Point-in-time
Other assets, net	`OtherAssets`	$5.71M	USD	Point-in-time
Other assets, net	`OtherAssets`	$7.65M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$220.78M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$233.05M	USD	Point-in-time
Mortgage notes payable related to real estate assets held for investment, net	`MortgageNotesPayableNet`	$116.48M	USD	Point-in-time
Mortgage notes payable related to real estate assets held for investment, net	`MortgageNotesPayableNet`	$115.54M	USD	Point-in-time
Mortgage notes payable related to real estate assets held for sale, net	`MortgageNotesPayableRelatedToPropertiesHeldForSaleNet`	$26.85M	USD	Point-in-time
Mortgage notes payable related to real estate assets held for sale, net	`MortgageNotesPayableRelatedToPropertiesHeldForSaleNet`	$33.24M	USD	Point-in-time
Mortgage notes payable, net	`MortgageNotesPayable`	$142.39M	USD	Point-in-time
Mortgage notes payable, net	`MortgageNotesPayable`	$149.71M	USD	Point-in-time
Note payable, net	`NotesPayable`	$12.24M	USD	Point-in-time
Note payable, net	`NotesPayable`	-	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$5.75M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$5.67M	USD	Point-in-time
Accrued real estate taxes	`AccruedRealEstateTaxes`	$3.09M	USD	Point-in-time
Accrued real estate taxes	`AccruedRealEstateTaxes`	$2.99M	USD	Point-in-time
Dividends payable	`DividendsPayableCurrentAndNoncurrent`	$1.08M	USD	Point-in-time
Dividends payable	`DividendsPayableCurrentAndNoncurrent`	-	USD	Point-in-time
Lease liability, net	`OperatingLeaseLiability`	$560.19K	USD	Point-in-time
Below-market leases, net	`BelowMarketLeaseNet`	$495.93K	USD	Point-in-time
Below-market leases, net	`BelowMarketLeaseNet`	$309.93K	USD	Point-in-time
Total liabilities	`Liabilities`	$164.16M	USD	Point-in-time
Total liabilities	`Liabilities`	$176.91M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$151.58M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$152.04M	USD	Point-in-time
Dividends in excess of accumulated losses	`RetainedEarningsAccumulatedDeficit`	$-111.34M	USD	Point-in-time
Dividends in excess of accumulated losses	`RetainedEarningsAccumulatedDeficit`	$-113.04M	USD	Point-in-time
Total stockholders' equity before noncontrolling interest	`StockholdersEquity`	$39.18M	USD	Point-in-time
Total stockholders' equity before noncontrolling interest	`StockholdersEquity`	$40.42M	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$15.73M	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$17.44M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$52.04M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$56.14M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$56.62M	USD	Point-in-time
TOTAL LIABILITIES AND EQUITY	`LiabilitiesAndStockholdersEquity`	$220.78M	USD	Point-in-time
TOTAL LIABILITIES AND EQUITY	`LiabilitiesAndStockholdersEquity`	$233.05M	USD	Point-in-time

Income Statement 48 line items

Line Item	Tag	Value	Unit	Period
Rental income	`OperatingLeaseLeaseIncome`	$27.47M	USD	Annual
Rental income	`OperatingLeaseLeaseIncome`	$31.14M	USD	Annual
Fee and other income	`FeeAndOtherIncome`	$1.20M	USD	Annual
Fee and other income	`FeeAndOtherIncome`	$1.17M	USD	Annual
Total revenues	`Revenues`	$32.34M	USD	Annual
Total revenues	`Revenues`	$28.64M	USD	Annual
Rental operating costs	`OperatingLeaseExpense`	$10.89M	USD	Annual
Rental operating costs	`OperatingLeaseExpense`	$10.41M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$5.27M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$4.53M	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$7.36M	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$9.10M	USD	Annual
Total costs and expenses	`OperatingExpenses`	$24.52M	USD	Annual
Total costs and expenses	`OperatingExpenses`	$23.04M	USD	Annual
Interest expense-Series B Preferred Stock	`InterestExpensePreferredStock`	$4.77M	USD	Annual
Interest expense-Series B Preferred Stock	`InterestExpensePreferredStock`	$2.23M	USD	Annual
Interest expense-mortgage notes	`InterestExpenseDebt`	$8.27M	USD	Annual
Interest expense-mortgage notes	`InterestExpenseDebt`	$7.34M	USD	Annual
Interest expense-note payable	`InterestExpenseNotesPayable`	$1.09M	USD	Annual
Interest expense-note payable	`InterestExpenseNotesPayable`	-	USD	Annual
Interest and other income	`NonoperatingInterestAndOtherIncomeExpense`	$55.91K	USD	Annual
Interest and other income	`NonoperatingInterestAndOtherIncomeExpense`	$141.31K	USD	Annual
Gain on sales of real estate	`GainLossOnSaleOfBusiness`	$6.32M	USD	Annual
Gain on sales of real estate	`GainLossOnSaleOfBusiness`	$12.20M	USD	Annual
Deferred offering costs	`NoninterestExpenseOfferingCost`	$1.51M	USD	Annual
Deferred offering costs	`NoninterestExpenseOfferingCost`	-	USD	Annual
Impairment of real estate assets	`ImpairmentOfRealEstate`	$532.95K	USD	Annual
Impairment of real estate assets	`ImpairmentOfRealEstate`	-	USD	Annual
Acquisition costs	`AcquisitionCosts`	$24.27K	USD	Annual
Acquisition costs	`AcquisitionCosts`	$26.18K	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	$518.57K	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	$611.26K	USD	Annual
Total other expense, net	`NonoperatingIncomeExpense`	$-3.37M	USD	Annual
Total other expense, net	`NonoperatingIncomeExpense`	$-4.82M	USD	Annual
Net income	`ProfitLoss`	$4.45M	USD	Annual
Net income	`ProfitLoss`	$772.93K	USD	Annual
Less: Income attributable to noncontrolling interests	`IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity`	$1.07M	USD	Annual
Less: Income attributable to noncontrolling interests	`IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity`	$1.38M	USD	Annual
Net (loss) income attributable to Presidio Property Trust, Inc. common stockholders	`NetIncomeLoss`	$3.38M	USD	Annual
Net (loss) income attributable to Presidio Property Trust, Inc. common stockholders	`NetIncomeLoss`	$-610.21K	USD	Annual
(Loss) income per common share (in dollars per share)	`EarningsPerShareBasic`	$-0.03	USD	Annual
(Loss) income per common share (in dollars per share)	`EarningsPerShareBasic`	$0.19	USD	Annual
Weighted average number of common shares outstanding - basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	17.68M	shares	Annual
Weighted average number of common shares outstanding - basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	17.73M	shares	Annual
(Loss) income per common share (in dollars per share)	`EarningsPerShareDiluted`	$-0.03	USD	Annual
(Loss) income per common share (in dollars per share)	`EarningsPerShareDiluted`	$0.19	USD	Annual
Weighted average number of common shares outstanding - diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	17.87M	shares	Annual
Weighted average number of common shares outstanding - diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	17.91M	shares	Annual

Cash Flow Statement 74 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$4.45M	USD	Annual
Net income	`ProfitLoss`	$772.93K	USD	Annual
Depreciation and amortization	`DepreciationAmortizationAndAmortizationOfAboveMarketRents`	$7.36M	USD	Annual
Depreciation and amortization	`DepreciationAmortizationAndAmortizationOfAboveMarketRents`	$9.10M	USD	Annual
Stock compensation	`RestrictedStockExpense`	$460.65K	USD	Annual
Stock compensation	`RestrictedStockExpense`	$686.13K	USD	Annual
Bad debt expense (recoveries)	`ValuationAllowancesAndReservesDeductions`	$-32.54K	USD	Annual
Bad debt expense (recoveries)	`ValuationAllowancesAndReservesDeductions`	$110.42K	USD	Annual
Gain on sale of real estate assets	`GainsLossesOnSalesOfInvestmentRealEstate`	$6.32M	USD	Annual
Gain on sale of real estate assets	`GainsLossesOnSalesOfInvestmentRealEstate`	$12.20M	USD	Annual
Impairment of real estate assets	`ImpairmentOfRealEstate`	$532.95K	USD	Annual
Impairment of real estate assets	`ImpairmentOfRealEstate`	-	USD	Annual
Accretion of original issue discount	`AccretionAmortizationOfDiscountsAndPremiumsInvestments`	-	USD	Annual
Accretion of original issue discount	`AccretionAmortizationOfDiscountsAndPremiumsInvestments`	$-386.60K	USD	Annual
Amortization of financing costs	`AmortizationOfFinancingCosts`	$965.24K	USD	Annual
Amortization of financing costs	`AmortizationOfFinancingCosts`	$675.09K	USD	Annual
Amortization of above-market leases	`AmortizationOfAboveMarketLeases`	$55.47K	USD	Annual
Amortization of above-market leases	`AmortizationOfAboveMarketLeases`	$68.88K	USD	Annual
Amortization of below-market leases	`AmortizationOfBelowMarketLease`	$894.45K	USD	Annual
Amortization of below-market leases	`AmortizationOfBelowMarketLease`	$186.00K	USD	Annual
Straight-line rent adjustment	`StraightLineRentAdjustments`	$45.78K	USD	Annual
Straight-line rent adjustment	`StraightLineRentAdjustments`	$-63.90K	USD	Annual
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-1.04M	USD	Annual
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$818.38K	USD	Annual
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-767.44K	USD	Annual
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-1.18M	USD	Annual
Accrued real estate taxes	`ChangeAccruedRealEstateTaxes`	$-106.78K	USD	Annual
Accrued real estate taxes	`ChangeAccruedRealEstateTaxes`	$80.39K	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$3.79M	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$432.45K	USD	Annual
Real estate acquisitions	`PaymentsToAcquireRealEstate`	$13.04M	USD	Annual
Real estate acquisitions	`PaymentsToAcquireRealEstate`	$17.33M	USD	Annual
Buildings and tenant improvements	`PaymentsForTenantImprovements`	$3.36M	USD	Annual
Buildings and tenant improvements	`PaymentsForTenantImprovements`	$6.39M	USD	Annual
Additions to deferred leasing costs	`PaymentsForLeasingCosts`	$714.60K	USD	Annual
Additions to deferred leasing costs	`PaymentsForLeasingCosts`	$661.40K	USD	Annual
Proceeds from sale of real estate assets	`ProceedsFromSaleOfProductiveAssets`	$32.07M	USD	Annual
Proceeds from sale of real estate assets	`ProceedsFromSaleOfProductiveAssets`	$46.99M	USD	Annual
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$11.98M	USD	Annual
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$25.59M	USD	Annual
Proceeds from mortgage notes payable, net of issuance costs	`ProceedsFromSecuredNotesPayable`	$15.49M	USD	Annual
Proceeds from mortgage notes payable, net of issuance costs	`ProceedsFromSecuredNotesPayable`	$20.51M	USD	Annual
Repayment of mortgage notes payable	`RepaymentsOfNotesPayable`	$31.37M	USD	Annual
Repayment of mortgage notes payable	`RepaymentsOfNotesPayable`	$23.18M	USD	Annual
Redemption of mandatorily redeemable Series B Preferred Stock	`PaymentsForRepurchaseOfPreferredStockAndPreferenceStock`	$13.80M	USD	Annual
Redemption of mandatorily redeemable Series B Preferred Stock	`PaymentsForRepurchaseOfPreferredStockAndPreferenceStock`	$16.90M	USD	Annual
Series B Preferred Stock costs	`PaymentsOfStockIssuanceCosts`	$153.50K	USD	Annual
Series B Preferred Stock costs	`PaymentsOfStockIssuanceCosts`	-	USD	Annual
Proceeds from note payable, net of issuance costs	`ProceedsFromUnsecuredNotesPayable`	-	USD	Annual
Proceeds from note payable, net of issuance costs	`ProceedsFromUnsecuredNotesPayable`	$11.48M	USD	Annual
Contributions received from noncontrolling interests in excess of distributions paid	`ProceedsFromPaymentsToMinorityShareholders`	$260.87K	USD	Annual
Contributions received from noncontrolling interests in excess of distributions paid	`ProceedsFromPaymentsToMinorityShareholders`	$331.60K	USD	Annual
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	Annual
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$227.43K	USD	Annual
Dividends paid to stockholders	`PaymentsOfDividendsCommonStock`	-	USD	Annual
Dividends paid to stockholders	`PaymentsOfDividendsCommonStock`	$2.16M	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-15.16M	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-24.56M	USD	Annual
Net increase in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$1.47M	USD	Annual
Net increase in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$615.06K	USD	Annual
Cash, cash equivalents and restricted cash - beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$9.78M	USD	Point-in-time
Cash, cash equivalents and restricted cash - beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.31M	USD	Point-in-time
Cash, cash equivalents and restricted cash - beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$10.39M	USD	Point-in-time
Cash, cash equivalents and restricted cash - end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$9.78M	USD	Point-in-time
Cash, cash equivalents and restricted cash - end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.31M	USD	Point-in-time
Cash, cash equivalents and restricted cash - end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$10.39M	USD	Point-in-time
Interest paid-Series B preferred stock	`InterestPaidPreferredStockSeriesB`	$4.36M	USD	Annual
Interest paid-Series B preferred stock	`InterestPaidPreferredStockSeriesB`	$1.86M	USD	Annual
Interest paid-mortgage notes payable	`InterestPaidMortgageNotes`	$7.81M	USD	Annual
Interest paid-mortgage notes payable	`InterestPaidMortgageNotes`	$6.44M	USD	Annual
Interest paid-notes payable	`InterestPaidNotes`	-	USD	Annual
Interest paid-notes payable	`InterestPaidNotes`	$713.26K	USD	Annual
Accrual of dividends payable	`AccrualOfDividendsPayable`	$1.08M	USD	Annual
Accrual of dividends payable	`AccrualOfDividendsPayable`	-	USD	Annual

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$52.04M	USD	Point-in-time
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$56.14M	USD	Point-in-time
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$56.62M	USD	Point-in-time
Net (loss) income	`ProfitLoss`	$4.45M	USD	Annual
Net (loss) income	`ProfitLoss`	$772.93K	USD	Annual
Dividends declared	`Dividends`	$1.08M	USD	Annual
Dividends declared	`Dividends`	$1.08M	USD	Annual
Contributions received from noncontrolling interests, net of distributions paid	`ContributedCapitalLessDistributionsOfNoncontrollingInterests`	$331.60K	USD	Annual
Contributions received from noncontrolling interests, net of distributions paid	`ContributedCapitalLessDistributionsOfNoncontrollingInterests`	$260.87K	USD	Annual
Common stock repurchased	`StockRepurchasedAndRetiredDuringPeriodValue`	$227.43K	USD	Annual
Vesting of restricted stock	`StockIssuedDuringPeriodValueRestrictedStockAwardGross`	$460.65K	USD	Annual
Vesting of restricted stock	`StockIssuedDuringPeriodValueRestrictedStockAwardGross`	$686.13K	USD	Annual
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$52.04M	USD	Point-in-time
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$56.14M	USD	Point-in-time
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$56.62M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.