Presidio Property Trust, Inc. reported its earnings for the three months ended March 31, 2025, on May 14, 2025, showing a notable improvement in net income.
The company recorded net income attributable to common stockholders of $1.69 million, or $0.13 per share, a significant turnaround from a net loss of $5.76 million, or $0.47 per share, in the prior-year period.
Total revenue for the quarter decreased to approximately $4.13 million from $4.79 million in Q1 2024, primarily due to lower rental income and transaction fees from the model home segment, coupled with the impact of recent property sales.
The improvement in net income was largely influenced by a gain on commercial property sales and a reduced loss from the investment in Conduit Pharmaceuticals marketable securities, which narrowed to $0.2 million from $3.9 million.
General and administrative expenses also saw a reduction, decreasing to $1.66 million from $2.08 million, benefiting from lower consulting and legal fees and fewer new restricted stock grants.
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