Presidio Property Trust (NASDAQ:SQFTP) Stock Price Down 4.4% – Here’s What Happened

Shares of Presidio Property Trust, Inc. (NASDAQ:SQFTP) were down 4.4% on Wednesday . The stock traded as low as $5.93 and last traded at $6.8850. Approximately 25,046 shares traded hands during mid-day trading, an increase of 15% from the average daily volume of 21,836 shares. The stock had previously closed at $7.20.

Presidio Property Trust Price Performance

The company has a 50 day moving average of $11.66 and a 200 day moving average of $13.99.

Presidio Property Trust Company Profile

Presidio is an internally managed, diversified REIT with holdings in model home properties which are triple-net leased to homebuilders, office, industrial, and retail properties. Presidio's model homes are leased to homebuilders located in Arizona, Illinois, Texas, Wisconsin, and Florida. Our office, industrial and retail properties are located primarily in Colorado, with properties also located in Maryland, North Dakota, Texas, and Southern California. While geographical clustering of real estate enables us to reduce our operating costs through economies of scale by servicing several properties with less staff, it makes us susceptible to changing market conditions in these discrete geographic areas, including those that have developed as a result of COVID-19.