A Presidio Property Trust Major Investment To Be Part of Russell 2000®
29 Mayo 2024 - 3:21PM
Presidio Property Trust, Inc. (NASDAQ: SQFT; SQFTP; SQFTW)
(“Presidio” or the “Company”), an internally managed, diversified
real estate investment trust (“REIT”), has announced that Conduit
Pharmaceuticals Inc. (NASDAQ: CDT, CDTTW) (“Conduit”), of which the
Company owns approximately 6.3%, is expected to be added to the
Russell 2000 Index effective at the open of US equity markets on
Monday, July 1, 2024, as part of the annual reconstitution of the
Russell stock indexes. A preliminary list of index additions,
including Conduit, was posted by FTSE Russell on May
24, 2024.
The annual Russell US Indexes reconstitution
captures the largest US stocks as of Tuesday, April 30th, ranking
them by total market capitalization. Membership in the US all-cap
Russell 3000® Index, which remains in place for one year, means
automatic inclusion in the large-cap Russell 1000 Index or
small-cap Russell 2000 Index as well as the appropriate growth and
value style indexes. FTSE Russell determines membership for its
Russell indexes primarily by objective, market-capitalization
rankings, and style attributes.
“We are excited the additional visibility that
being in the Russell 2000 and Russell 3000 will give Conduit,” said
Jack Heilbron, President and Chief Executive Officer of
Presidio.
Russell indexes are widely used by investment
managers and institutional investors for index funds and as
benchmarks for active investment strategies. According to the data
as of the end of December 2023, about $10.5 trillion in assets are
benchmarked against the Russell US indexes, which belong to FTSE
Russell, a prominent global index provider.
About Presidio Property
Trust
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. Presidio owns approximately 6.5% of the outstanding
common stock of Conduit Pharmaceuticals Inc., a disease agnostic
multi-asset clinical-stage disease-agnostic life science company
providing an efficient model for compound development. For more
information on Presidio, please visit the Company’s website at
https://www.PresidioPT.com.
Cautionary Note Regarding
Forward-Looking Statements
This press release contains statements that are
“forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995, Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, and other federal
securities laws. Forward-looking statements are statements that are
not historical, including statements regarding management’s
intentions, beliefs, expectations, representations, plans or
predictions of the future, and are typically identified by such
words as “believe,” “expect,” “anticipate,” “intend,” “estimate,”
“may,” “will,” “should” and “could.” Forward-looking statements
regarding the Company include, but are not limited to, statements
regarding the Russell 3000® Index
reconstitution, including the anticipated timing of Conduit’s
inclusion in the Russell 3000® Index and the
potential benefits of such inclusion. Because such statements
include risks, uncertainties and contingencies, actual results may
differ materially from those expressed or implied by such
forward-looking statements. These forward-looking statements are
based upon the Company’s present expectations, but these statements
are not guaranteed to occur. Except as required by law, the Company
disclaims any obligation to publicly update or revise any
forward-looking statement to reflect changes in underlying
assumptions or factors, of new information, data or methods, future
events or other changes. Investors should not place undue reliance
upon forward-looking statements. For further discussion of the
factors that could affect outcomes please refer to the Company’s
filings with the SEC, including those under “Risk Factors” therein,
copies of which are available on the SEC’s website,
www.sec.gov.
Investor Relations Contact:
Presidio Property Trust, Inc.Lowell Hartkorn, Investor
RelationsLHartkorn@presidiopt.comTelephone: (760) 471-8536
x1244
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