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10-Q Filing

PRESIDIO PROPERTY TRUST, INC. CIK: 1080657 Q1 2021
Filing Information
Form Type 10-Q
Accession Number 0001437749-21-011558
Period End Date 20210331
Filing Date 20210510
Fiscal Year 2021
Fiscal Period Q1
XBRL Instance sqft20210331_10q_htm.xml
Filing Contents
Balance Sheet 62 line items
Line Item Tag Value Unit Period
Land Land $18.83M USD Point-in-time
Land Land $17.85M USD Point-in-time
Buildings and improvements InvestmentBuildingAndBuildingImprovements $109.79M USD Point-in-time
Buildings and improvements InvestmentBuildingAndBuildingImprovements $115.41M USD Point-in-time
Tenant improvements TenantImprovements $11.96M USD Point-in-time
Tenant improvements TenantImprovements $12.03M USD Point-in-time
Lease intangibles FiniteLivedIntangibleAssetsNetOfAmountsIncludedInRealEstateAssetsHeldForSale $4.11M USD Point-in-time
Lease intangibles FiniteLivedIntangibleAssetsNetOfAmountsIncludedInRealEstateAssetsHeldForSale $4.11M USD Point-in-time
Real estate assets and lease intangibles held for investment, cost RealEstateInvestmentPropertyAndLeaseIntangiblesHeldForInvestmentAtCost $150.31M USD Point-in-time
Real estate assets and lease intangibles held for investment, cost RealEstateInvestmentPropertyAndLeaseIntangiblesHeldForInvestmentAtCost $143.78M USD Point-in-time
Accumulated depreciation and amortization RealEstateInvestmentPropertyAndLeaseIntangiblesAccumulatedDepreciationAndAmortization $27.48M USD Point-in-time
Accumulated depreciation and amortization RealEstateInvestmentPropertyAndLeaseIntangiblesAccumulatedDepreciationAndAmortization $26.55M USD Point-in-time
Real estate assets and lease intangibles held for investment, net RealEstateInvestmentPropertyAndLeaseIntangiblesHeldForInvestmentNet $123.75M USD Point-in-time
Real estate assets and lease intangibles held for investment, net RealEstateInvestmentPropertyAndLeaseIntangiblesHeldForInvestmentNet $116.30M USD Point-in-time
Real estate assets held for sale, net RealEstateHeldforsale $42.50M USD Point-in-time
Real estate assets held for sale, net RealEstateHeldforsale $29.04M USD Point-in-time
Real estate assets, net RealEstateInvestmentPropertyAndLeaseIntangiblesHeldforinvestmentAndRealEstateHeldForSaleNet $145.35M USD Point-in-time
Real estate assets, net RealEstateInvestmentPropertyAndLeaseIntangiblesHeldforinvestmentAndRealEstateHeldForSaleNet $166.25M USD Point-in-time
Cash, cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $6.99M USD Point-in-time
Cash, cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $11.54M USD Point-in-time
Deferred leasing costs, net DeferredCostsLeasingNet $1.54M USD Point-in-time
Deferred leasing costs, net DeferredCostsLeasingNet $1.93M USD Point-in-time
Goodwill Goodwill $2.42M USD Point-in-time
Goodwill Goodwill $2.42M USD Point-in-time
Other assets, net OtherAssets $3.42M USD Point-in-time
Other assets, net OtherAssets $2.85M USD Point-in-time
TOTAL ASSETS Assets $185.57M USD Point-in-time
TOTAL ASSETS Assets $159.14M USD Point-in-time
Mortgage notes payable, net MortgageNotesPayableRelatedToRealEstateAssetsHeldForInvestmentNet $94.66M USD Point-in-time
Mortgage notes payable, net MortgageNotesPayableRelatedToRealEstateAssetsHeldForInvestmentNet $90.90M USD Point-in-time
Mortgage notes payable related to properties held for sale, net MortgageNotesPayableRelatedToPropertiesHeldForSaleNet $25.37M USD Point-in-time
Mortgage notes payable related to properties held for sale, net MortgageNotesPayableRelatedToPropertiesHeldForSaleNet $17.79M USD Point-in-time
Mortgage notes payable, total net MortgageNotesPayableNet $108.69M USD Point-in-time
Mortgage notes payable, total net MortgageNotesPayableNet $120.03M USD Point-in-time
Note payable, net NotesPayable - USD Point-in-time
Note payable, net NotesPayable $7.50M USD Point-in-time
Accounts payable and accrued liabilities AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent $5.13M USD Point-in-time
Accounts payable and accrued liabilities AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent $3.88M USD Point-in-time
Accrued real estate taxes AccruedRealEstateTaxes $1.53M USD Point-in-time
Accrued real estate taxes AccruedRealEstateTaxes $2.55M USD Point-in-time
Lease liability, net OperatingLeaseLiability $102.32K USD Point-in-time
Lease liability, net OperatingLeaseLiability $95.83K USD Point-in-time
Below-market leases, net BelowMarketLeaseNet $139.04K USD Point-in-time
Below-market leases, net BelowMarketLeaseNet $120.01K USD Point-in-time
Total liabilities Liabilities $114.31M USD Point-in-time
Total liabilities Liabilities $135.45M USD Point-in-time
Commitments and contingencies (Note 9) CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies (Note 9) CommitmentsAndContingencies - USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $156.46M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $156.46M USD Point-in-time
Dividends and accumulated losses RetainedEarningsAccumulatedDeficit $-125.33M USD Point-in-time
Dividends and accumulated losses RetainedEarningsAccumulatedDeficit $-121.67M USD Point-in-time
Total stockholders' equity before noncontrolling interest StockholdersEquity $31.22M USD Point-in-time
Total stockholders' equity before noncontrolling interest StockholdersEquity $34.88M USD Point-in-time
Noncontrolling interest MinorityInterest $13.61M USD Point-in-time
Noncontrolling interest MinorityInterest $15.24M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $56.62M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $44.83M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $50.12M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $55.41M USD Point-in-time
TOTAL LIABILITIES AND EQUITY LiabilitiesAndStockholdersEquity $185.57M USD Point-in-time
TOTAL LIABILITIES AND EQUITY LiabilitiesAndStockholdersEquity $159.14M USD Point-in-time
Income Statement 36 line items
Line Item Tag Value Unit Period
Rental income OperatingLeasesIncomeStatementLeaseRevenue $5.48M USD 1 Quarter
Rental income OperatingLeasesIncomeStatementLeaseRevenue $6.79M USD 1 Quarter
Fees and other income FeeAndOtherIncome $243.47K USD 1 Quarter
Fees and other income FeeAndOtherIncome $191.53K USD 1 Quarter
Total revenue Revenues $7.03M USD 1 Quarter
Total revenue Revenues $5.67M USD 1 Quarter
Rental operating costs OperatingLeaseExpense $1.84M USD 1 Quarter
Rental operating costs OperatingLeaseExpense $2.38M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $1.54M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $1.35M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $1.57M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $1.43M USD 1 Quarter
Impairment of real estate assets ImpairmentOfRealEstate - USD 1 Quarter
Impairment of real estate assets ImpairmentOfRealEstate $300.00K USD 1 Quarter
Total costs and expenses OperatingExpenses $5.31M USD 1 Quarter
Total costs and expenses OperatingExpenses $5.11M USD 1 Quarter
Interest and other income (expense), net NonoperatingInterestAndOtherIncomeExpense $-7.00K USD 1 Quarter
Interest and other income (expense), net NonoperatingInterestAndOtherIncomeExpense $-32.78K USD 1 Quarter
Loss on sales of real estate, net GainsLossesOnSalesOfInvestmentRealEstate $-1.16M USD 1 Quarter
Loss on sales of real estate, net GainsLossesOnSalesOfInvestmentRealEstate $-9.84K USD 1 Quarter
Gain on extinguishment of government debt GainsLossesOnExtinguishmentOfDebt - USD 1 Quarter
Gain on extinguishment of government debt GainsLossesOnExtinguishmentOfDebt $10.00K USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $83.63K USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $50.20K USD 1 Quarter
Total other income (expense), net NonoperatingIncomeExpense $-2.65M USD 1 Quarter
Total other income (expense), net NonoperatingIncomeExpense $-2.82M USD 1 Quarter
Net loss ProfitLoss $-2.26M USD 1 Quarter
Net loss ProfitLoss $-932.12K USD 1 Quarter
Less: Income attributable to noncontrolling interests IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity $175.01K USD 1 Quarter
Less: Income attributable to noncontrolling interests IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity $406.61K USD 1 Quarter
Net loss attributable to Presidio Property Trust, Inc. common stockholders NetIncomeLoss $-2.66M USD 1 Quarter
Net loss attributable to Presidio Property Trust, Inc. common stockholders NetIncomeLoss $-1.11M USD 1 Quarter
Basic and diluted loss per common share (in dollars per share) EarningsPerShareBasicAndDiluted $-0.28 USD 1 Quarter
Basic and diluted loss per common share (in dollars per share) EarningsPerShareBasicAndDiluted $-0.12 USD 1 Quarter
Weighted average number of common shares outstanding - basic and diluted (in shares) WeightedAverageNumberOfShareOutstandingBasicAndDiluted 8.88M shares 1 Quarter
Weighted average number of common shares outstanding - basic and diluted (in shares) WeightedAverageNumberOfShareOutstandingBasicAndDiluted 9.51M shares 1 Quarter
Cash Flow Statement 70 line items
Line Item Tag Value Unit Period
Net loss ProfitLoss $-2.26M USD 1 Quarter
Net loss ProfitLoss $-932.12K USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $1.43M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $1.57M USD 1 Quarter
Stock compensation ShareBasedCompensation $301.55K USD 1 Quarter
Stock compensation ShareBasedCompensation $157.37K USD 1 Quarter
Loss on sale of real estate assets, net GainsLossesOnSalesOfInvestmentRealEstate $-1.16M USD 1 Quarter
Loss on sale of real estate assets, net GainsLossesOnSalesOfInvestmentRealEstate $-9.84K USD 1 Quarter
Gain on extinguishment of government debt GainsLossesOnExtinguishmentOfDebt - USD 1 Quarter
Gain on extinguishment of government debt GainsLossesOnExtinguishmentOfDebt $10.00K USD 1 Quarter
Impairment of real estate assets ImpairmentOfRealEstate - USD 1 Quarter
Impairment of real estate assets ImpairmentOfRealEstate $300.00K USD 1 Quarter
Accretion of original issue discount AccretionAmortizationOfDiscountsAndPremiumsInvestments - USD 1 Quarter
Accretion of original issue discount AccretionAmortizationOfDiscountsAndPremiumsInvestments $-337.80K USD 1 Quarter
Amortization of financing costs AmortizationOfFinancingCosts $363.18K USD 1 Quarter
Amortization of financing costs AmortizationOfFinancingCosts $261.78K USD 1 Quarter
Amortization of above-market leases AmortizationOfAboveMarketLease $12.67K USD 1 Quarter
Amortization of above-market leases AmortizationOfAboveMarketLease $18.03K USD 1 Quarter
Amortization of below-market leases AmortizationOfBelowMarketLease $19.04K USD 1 Quarter
Amortization of below-market leases AmortizationOfBelowMarketLease $42.59K USD 1 Quarter
Straight-line rent adjustment StraightLineRentAdjustments $-132.99K USD 1 Quarter
Straight-line rent adjustment StraightLineRentAdjustments $-52.94K USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $-1.95M USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $-481.46K USD 1 Quarter
Accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-2.61M USD 1 Quarter
Accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-1.98M USD 1 Quarter
Accrued real estate taxes ChangeAccruedRealEstateTaxes $-1.02M USD 1 Quarter
Accrued real estate taxes ChangeAccruedRealEstateTaxes $-1.24M USD 1 Quarter
Net cash used in operating activities NetCashProvidedByUsedInOperatingActivities $-474.07K USD 1 Quarter
Net cash used in operating activities NetCashProvidedByUsedInOperatingActivities $-1.47M USD 1 Quarter
Real estate acquisitions PaymentsToAcquireRealEstate $3.57M USD 1 Quarter
Real estate acquisitions PaymentsToAcquireRealEstate - USD 1 Quarter
Additions to buildings and tenant improvements PaymentsForTenantImprovements $100.77K USD 1 Quarter
Additions to buildings and tenant improvements PaymentsForTenantImprovements $889.67K USD 1 Quarter
Additions to deferred leasing costs PaymentsForLeasingCosts $37.59K USD 1 Quarter
Additions to deferred leasing costs PaymentsForLeasingCosts - USD 1 Quarter
Proceeds from sales of real estate, net ProceedsFromSaleOfProductiveAssets $19.05M USD 1 Quarter
Proceeds from sales of real estate, net ProceedsFromSaleOfProductiveAssets $24.59M USD 1 Quarter
Net cash provided by investing activities NetCashProvidedByUsedInInvestingActivities $18.91M USD 1 Quarter
Net cash provided by investing activities NetCashProvidedByUsedInInvestingActivities $20.12M USD 1 Quarter
Proceeds from mortgage notes payable, net of issuance costs ProceedsFromIssuanceOfMortgageNotesPayable $6.01M USD 1 Quarter
Proceeds from mortgage notes payable, net of issuance costs ProceedsFromIssuanceOfMortgageNotesPayable $4.35M USD 1 Quarter
Repayment of mortgage notes payable RepaymentsOfSecuredNotesPayable $19.80M USD 1 Quarter
Repayment of mortgage notes payable RepaymentsOfSecuredNotesPayable $17.23M USD 1 Quarter
Repayment of note payable RepaymentsOfNotesPayable $7.68M USD 1 Quarter
Repayment of note payable RepaymentsOfNotesPayable $5.22M USD 1 Quarter
Payment of deferred offering costs PaymentsOfDebtIssuanceCosts $70.28K USD 1 Quarter
Payment of deferred offering costs PaymentsOfDebtIssuanceCosts $100.03K USD 1 Quarter
Contributions from noncontrolling interests, net of distributions paid ProceedsFromPaymentsToMinorityShareholders $-2.03M USD 1 Quarter
Contributions from noncontrolling interests, net of distributions paid ProceedsFromPaymentsToMinorityShareholders $-277.47K USD 1 Quarter
Dividends paid to stockholders PaymentsOfDividendsCommonStock - USD 1 Quarter
Dividends paid to stockholders PaymentsOfDividendsCommonStock $998.79K USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-21.06M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-22.00M USD 1 Quarter
Net increase in cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-4.56M USD 1 Quarter
Net increase in cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-1.41M USD 1 Quarter
Cash, cash equivalents and restricted cash - beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $6.99M USD Point-in-time
Cash, cash equivalents and restricted cash - beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $8.98M USD Point-in-time
Cash, cash equivalents and restricted cash - beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $10.39M USD Point-in-time
Cash, cash equivalents and restricted cash - beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $11.54M USD Point-in-time
Cash, cash equivalents and restricted cash - end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $6.99M USD Point-in-time
Cash, cash equivalents and restricted cash - end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $8.98M USD Point-in-time
Cash, cash equivalents and restricted cash - end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $10.39M USD Point-in-time
Cash, cash equivalents and restricted cash - end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $11.54M USD Point-in-time
Interest paid-mortgage notes payable InterestPaidMortgageNotes $1.24M USD 1 Quarter
Interest paid-mortgage notes payable InterestPaidMortgageNotes $1.67M USD 1 Quarter
Interest paid-notes payable InterestPaidNet $247.81K USD 1 Quarter
Interest paid-notes payable InterestPaidNet $103.86K USD 1 Quarter
Unpaid deferred financing costs DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction - USD 1 Quarter
Unpaid deferred financing costs DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction $14.61K USD 1 Quarter
Stockholders Equity 13 line items
Line Item Tag Value Unit Period
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $56.62M USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $44.83M USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $50.12M USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $55.41M USD Point-in-time
Net loss ProfitLoss $-2.26M USD 1 Quarter
Net loss ProfitLoss $-932.12K USD 1 Quarter
Dividends paid Dividends $998.79K USD 1 Quarter
Distributions in excess of contributions received MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders $2.03M USD 1 Quarter
Distributions in excess of contributions received MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders $277.47K USD 1 Quarter
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $56.62M USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $44.83M USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $50.12M USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $55.41M USD Point-in-time

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

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