Presidio Property Trust (NASDAQ:SQFT) stock is on the move Friday despite a lack of news concerning the company.
To go along with the increase in share price, SQFT stock is also experiencing heavy trading today. As of this writing, more than 31 million shares of the stock have changed hands. For comparison, the company’s daily average trading volume is a fraction of that at about 66,000 shares.
So why exactly are investors going crazy over shares of SQFT stock. While the reason is unclear, it likely has to do with short-term traders boosting up the price of the stock. Massive trading of stocks while following the crowd is typical of Robinhood investors and could be what’s happening to SQFT stock today.
Now that we’ve got that out of the way, let’s take a closer look at SQFT for investors that want to know more about the company before buying its stock.
- Presidio Property Trust is a real estate investment company with a focus on properties outside of the mainstream.
- The company seeks out unique situations from sellers that allow it to acquire properties for lower prices before turning them around.
- The types of properties that it acquires include “office, retail, industrial, self-storage, and residential.”
- It also has an interest in picking up model homes via its subsidiary NetREIT Dubose Model Home REIT.
- While this is only a small portion of its business, the company says it’s “very accretive to our stockholders.”
- It currently manages properties in three states: California, Colorado and North Dakota.
SQFT stock was up 87.3% as of Friday morning.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.