Cash flow generation remains erratic, with 2026Q1 capital expenditures of $165.8K further pressuring liquidity in an environment where AFFO has struggled to consistently cover dividend payouts.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 |
|---|
| Cash from Operations | -420.43K | 417.87K | -728.06K | 1.49M | 928.82K | 2.37M | 3.69M | 3.79M | 432.45K | 5.59M | 3.72M | 3.77M | 4.18M | 4.13M | 4.54M | 1.31M | 621.2M | 210.81M | 683.53M |
| Operating CF Growth % | -429.44% | 157.39% | -148.87% | 60.4% | -60.89% | -35.7% | -2.57% | 776.61% | -92.26% | 50.07% | -1.24% | -9.76% | 1.02% | -8.96% | 245.46% | -99.79% | 194.67% | -69.16% | - |
| Operating CF / Revenue % | -2.55% | 2.49% | -3.85% | 8.45% | 5.23% | 12.35% | 15.17% | 13.24% | 1.34% | 16.74% | 11.47% | 15.72% | 25.35% | 21.13% | 25.7% | 9.34% | 6.09% | 7.17% | 25.5% |
| Net Income | -10.1M | -7.59M | -23.1M | 10.15M | 1.49M | -1.46M | -6.26M | 772.93K | 4.45M | -2.84M | -5.57M | -2.03M | -853.6K | -4.09M | -2.13M | -2.62M | -2.99B | -2.53B | -2.11B |
| Depreciation & Amortization | 4.86B | 4.86M | 5.51M | 5.43M | 5.41M | 5.38M | 6.15M | 7.23M | 8.28M | 9.71M | 10.26M | 7.95M | 6.05M | 5.31M | 5.17M | 4.22M | 3.53B | 2.19B | 2.09B |
| Stock-Based Compensation | 1.14B | 1.14M | 1.55M | 989.51K | 1.2M | 1.61M | 1.11M | 686.13K | 460.65K | 558.73K | 520.58K | 464.83K | 455.82K | 481.93K | 484.81K | 387.64K | 322.44M | 202M | 119.58M |
| Other Non-Cash Items | 1.52B | 1.73M | 16.68M | -15.3M | -7.04M | -1.52M | 2.41M | -5.06M | 720.87K | -624.56K | -77.43K | -4.68M | -3.98M | 2.66M | 1.51M | -676.09K | -243.16M | 356.04M | 586.59M |
| Working Capital Changes | 363.88K | 282.21K | -1.36M | 228.56K | -132.57K | -1.64M | -277.69K | 161.59K | -1.92M | 450.68K | -1.41M | 2.06M | 2.51M | -229.29K | 817.2M | 501.85K | 283.43M | 193.83M | 885.13M |
| Cash from Investing | 6.83M | 13.49M | 12.87M | 120.31M | -126.38M | 24.2M | 27.68M | 11.98M | 25.59M | -1.09M | -16.49M | -36.26M | -42.48M | -157.29K | -22.63M | -31.67M | -22.63B | -21.06B | -21.38B |
| Acquisitions (Net) | 0 | 0 | 0 | 0 | -1.77M | 0 | -27.85M | 0 | 260.87K | 1.1M | 317.27K | -493.53K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Purchase of Investments | 0 | 0 | -2.36K | -2.16M | -1.76M | -3.82M | -10.16M | 0 | -17.33M | -17.56M | -23.67M | -70.53M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Sale of Investments | 22.54M | 13.99K | 105.21K | 140.13M | 2.36M | 2.38M | 40.85M | 0 | 46.99M | 20.61M | 12.26M | 37.76M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Investing | -14.05M | 13.48M | 12.76M | -17.66M | -123.1M | 25.64M | 27.68M | 11.98M | 25.59M | 20.09M | 11.33M | 34.44M | 19.15M | -157.29K | -22.63M | -31.67M | -22.63B | -21.06B | -21.38B |
| Cash from Financing | -13.19M | -14.52M | -10.61M | -131.81M | 127.26M | -23.42M | -30.22M | -15.16M | -24.56M | -3.57M | 9.26M | 33.49M | 33.73M | -4.52M | 23.96M | 27.56M | 18.63B | 25.36B | 20.59B |
| Dividends Paid | -1.91M | -2.3M | -2.24M | -3.31M | -5.27M | -5.47M | -963.46K | -2.16M | -1.08B | -3.62M | -4.52M | -4.12M | -4.8M | -4.77M | -4.27M | -3.58M | -2.84B | -2.4B | -1.38B |
| Common Dividends | -571.18K | 0 | 0 | -1.19M | -3.11M | -4.47M | -963.46K | -2.16M | 0 | -3.62M | -4.52M | -4.12M | -4.8M | -4.77M | -4.27M | -3.58M | -2.84M | -2.4M | -1.38M |
| Debt Issuance (Net) | -1.97M | -1000K | -1000K | 1000K | 1000K | -1000K | -1000K | 1000K | -1000K | 1000K | 1000K | 1000K | 1000K | -1000K | 1000K | 1000K | 1000K | 1000K | -913.36K |
| Share Repurchases | -3.26M | -1.93M | -140.42K | -137.53M | -435.53K | -110.63K | -18K | -17.13M | -13.8M | -2.07M | -2.36M | -176.46K | -1.86M | -34.17K | -159.56K | -302.07K | -62.83M | -439.84M | -82.19M |
| Other Financing | -1.45M | -1.7M | -3.77M | -1.68M | -9.39M | -8.16M | -260.26K | 331.6K | 107.37K | 941.74K | -1.98M | 17.76M | 4.7M | 3.56M | 1.86M | 976.87K | 0 | 69.48K | 20.57B |
| Net Change in Cash | -6.78M | -614.14K | 1.53M | -10.01M | 1.81M | 3.16M | 1.15M | 615.06K | 1.47M | 922.78K | -3.51M | 990.42K | -4.57M | -10.74B | -4.86B | -2.79M | -3.39B | 4.52B | -101.9M |
| Exchange Rate Effect | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash at Beginning | 7.42M | 8.04M | 6.51M | 16.52M | 14.7M | 11.54M | 10.39M | 9.78M | 8.31M | 7.39M | 6.63M | 5.64M | 10.21M | 10.75B | 4.87B | 7.03M | 9.3B | 4.78B | 4.88B |
| Cash at End | 5.17M | 7.42M | 8.04M | 6.51M | 16.52M | 14.7M | 11.54M | 10.39M | 9.78M | 8.31M | 3.12M | 6.63M | 5.64M | 10.21M | 10.75M | 4.24M | 5.91B | 9.3B | 4.78B |
| Free Cash Flow | -944.46K | 417.87K | -728.06K | 1.49M | -1.18M | 2.37M | 859.04K | 3.79M | -2.93M | -15.6M | -24.1M | -66.94M | -57.45M | 4.13M | 4.54M | 1.31M | 621.2M | 210.81M | 683.53M |
| FCF Growth % | -243.16% | 157.39% | -148.87% | 226.4% | -149.63% | 176.46% | -77.34% | 229.52% | 81.23% | 35.27% | 64% | -16.51% | -1489.65% | -8.96% | 245.46% | -99.79% | 194.67% | -69.16% | - |
| FCF / Revenue % | -5.74% | 2.49% | -3.85% | 8.45% | -6.64% | 12.35% | 3.53% | 13.24% | -9.05% | -46.73% | -74.25% | -279.16% | -348.76% | 21.13% | 25.7% | 9.34% | 6.09% | 7.17% | 25.5% |
Persistent negative cash flow
As reported in quarterly filings, the relationship between GAAP operating cash flow and FFO remains deeply inconsistent, with FFO/NI ratios fluctuating wildly, such as the -2.17 observed in 2026Q1, suggesting that non-cash adjustments and impairment charges are significantly distorting the company's true operational cash generation capacity.
The wide variance between GAAP operating cash flow and FFO indicates that the company's reported earnings are heavily influenced by non-recurring items or accounting adjustments rather than core rental performance. Investors should monitor this disconnect, as it suggests that FFO may not be a reliable proxy for actual cash liquidity in the current operating environment.
Based on the provided financial data, AFFO has struggled to maintain positive territory, with the 2026Q1 figure of $1.3M barely covering the $190.2K dividend payout, while prior periods show negative AFFO, indicating that the dividend is not consistently supported by recurring cash flow from property operations.
The lack of consistent positive AFFO suggests that the company is currently unable to generate sufficient free cash flow to sustain a dividend without potentially relying on capital recycling or external financing. The volatility in these metrics warrants further investigation into whether the current dividend policy is sustainable over the long term.
According to recent financial statements, the company incurred $165.8K in capital expenditures during 2026Q1, following a significant $524.0K outlay in 2025Q4, which highlights the ongoing cash burden required to maintain the office portfolio and support tenant retention in a softening commercial real estate market.
These recurring capital requirements appear to be a primary driver of the company's negative free cash flow, as the need for tenant improvements and building maintenance consistently outpaces the cash generated from operations. This dynamic suggests that the portfolio may require ongoing capital injections just to preserve existing revenue streams.
Financial records indicate that GAAP net income remains consistently negative, with losses reaching $5.3M in 2025Q2, a figure that appears heavily influenced by non-cash depreciation charges that obscure the underlying cash burn occurring within the company's diversified commercial and model home asset portfolio.
While depreciation is a non-cash expense, the persistent net losses suggest that the company's assets are not generating sufficient yield to cover both operating costs and the economic cost of asset wear and tear. This implies that the company's current business model may be structurally unprofitable regardless of how depreciation is treated in the cash flow reconciliation.
Quick answers to the most common questions about buying SQFT stock.
Presidio Property Trust, Inc. (SQFT) generated $0.4M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
Presidio Property Trust, Inc. (SQFT) generated $0.4M in free cash flow in 2025. Free cash flow is the cash left over after capital expenditures, which can be used to pay dividends, repurchase shares, or pay down debt.
Presidio Property Trust, Inc. (SQFT) spent $0.0M on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.
In 2025, Presidio Property Trust, Inc. (SQFT) returned $2.3M to shareholders via cash dividends and spent $1.9M on share repurchases. This shows the company's commitment to returning capital to its equity investors.