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POWER REIT

(PW)
  Report
Delayed Nyse  -  01:01 2022-10-06 pm EDT
11.10 USD   -1.44%
08/30Power Reit : Submission of Matters to a Vote of Security Holders (form 8-K)
AQ
08/12POWER REIT Management's Discussion and Analysis of Financial Condition and Results of Operations. (form 10-Q)
AQ
08/12Power REIT Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
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POWER REIT Management's Discussion and Analysis of Financial Condition and Results of Operations. (form 10-Q)

08/12/2022 | 05:20pm EDT

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

This Quarterly Report on Form 10-Q (this "Report") includes forward-looking
statements within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as amended.
Forward-looking statements are those that predict or describe future events or
trends and that do not relate solely to historical matters. You can generally
identify forward-looking statements as statements containing the words
"believe," "expect," "will," "anticipate," "intend," "estimate," "project,"
"plan," "assume" or other similar expressions, or negatives of those
expressions, although not all forward-looking statements contain these
identifying words. All statements contained in this Report regarding our future
strategy, future operations, projected financial position, estimated future
revenues, projected costs, future prospects, the future of our industries and
results that might be obtained by pursuing management's current or future plans
and objectives are forward-looking statements.



You should not place undue reliance on any forward-looking statements because
the matters they describe are subject to known and unknown risks, uncertainties
and other unpredictable factors, many of which are beyond our control, including
those identified below, under Part II, Item 1A. "Risk Factors" and elsewhere in
this Report, and those identified under Part I, Item 1A of the Annual Report on
Form 10-K for the year ended December 31, 2021 that we filed with the Securities
and Exchange Commission on March 31, 2022 (the "2021 10-K"). Our forward-looking
statements are based on the information currently available to us and speak only
as of the date of the filing of this Report. New risks and uncertainties arise
from time to time, and it is impossible for us to predict these matters or how
they may affect us. Over time, our actual results, performance, financial
condition or achievements may differ from the anticipated results, performance,
financial condition or achievements that are expressed or implied by our
forward-looking statements, and such differences may be significant and
materially adverse to our security holders. Our forward-looking statements
contained herein speak only as of the date hereof, and we make no commitment to
update or publicly release any revisions to forward-looking statements in order
to reflect new information or subsequent events, circumstances or changes in
expectations.


MANAGEMENT'S DISCUSSION AND ANALYSIS

We are a Maryland-domiciled Real Estate Investment Trust (REIT) that owns a
portfolio of real estate assets related to transportation, energy infrastructure
and Controlled Environment Agriculture (CEA) in the United States. We are
focused on making new acquisitions of real estate within the CEA sector related
to food and cannabis production in the form of greenhouses.



  17







We are structured as a holding company and own our assets through twenty-five
wholly owned, special purpose subsidiaries that have been formed in order to
hold real estate assets, obtain financing and generate lease revenue. We were
formed as part of a reorganization and reverse triangular merger of Pittsburgh &
West Virginia Railroad ("P&WV") that closed on December 2, 2011. P&WV survived
the reorganization as our wholly-owned subsidiary. Our investment strategy,
which is focused on transportation, CEA and energy infrastructure-related real
estate, builds upon P&WV's historical ownership of railroad real estate assets,
which are currently triple-net leased to Norfolk Southern Railroad ("NSC"). We
typically enter into long-term triple net leases where tenants are responsible
for all ongoing costs related to the property, including insurance, taxes and
maintenance.



Prior to 2019, our focus was on the acquisition of real estate assets related to
transportation and renewable energy infrastructure. In 2019 we expanded the
focus of our real estate acquisitions to include CEA properties in the United
States. CEA is an innovative method of growing plants that involves creating
optimized growing environments for a given crop indoors. We are currently
focused on making new acquisitions of real estate within the CEA sector related
to food and cannabis cultivation.



As of June 30, 2022, our portfolio consisted of approximately 112 miles of
railroad infrastructure and related real estate leased to a railway company
which is owned by our subsidiary, P&WV, approximately 601 acres of fee simple
land leased to a number of solar power generating projects with an aggregate
generating capacity of approximately 108 MW and approximately 263 acres of land
with approximately 2,211,000 square feet of existing or under construction
greenhouses. We are actively seeking to grow our portfolio of CEA for food
and
cannabis production.



Recent Developments


During the six months ended June 30, 2022, we added to our portfolio of CEA
properties by acquiring a new greenhouse property in Nebraska which will grow
tomatoes. In addition, we amended two existing cannabis leases to increase Power
REIT's investment with a corresponding increase in rental income and entered
into two new cannabis leases to replace tenants on vacated properties. Due to
the compression of the wholesale cannabis market in Colorado, the Trust has
offered tenants relief by amending original leases to several of our Colorado
tenants whereby monthly cash payments are restructured over the course of the
lease to lower rent payments during 2022 and increase rent payment in 2023 or
2024. These amendments do not affect the straight-line revenue calculation from
these leases. As of June 30, 2022, the Trust has executed seven of these lease
amendments.



As previously disclosed on 8K filing dated July 18, 2022, cannabis licensing for
Power REIT's property located in Michigan has been delayed. The Michigan
Cannabis Regulatory Authority application requires submitting a Certificate of
Occupancy or alternative documentation where a Certificate of Occupancy does not
exist, Since the property has Agricultural zoning, it is exempt from the Marengo
Township building code and the requirement for a Certificate of Occupancy. Power
REIT requested a simple two sentence letter from Marengo Township that the
Michigan Cannabis Regulatory Authority had approved in order to meet this
requirement but Marengo Township refused to provide the letter which ultimately
led to Power REIT filing two litigations against Marengo Township. As previously
disclosed, PW Marengo recently secured the requested statement from Marengo
Township and the application for cannabis licensing has been submitted to the
State of Michigan. Power REIT and Marengo Township have agreed to continue with
the mediation process to resolve remaining issues. See "Legal Proceedings" for
more information regarding the litigation.



Due to the uncertainty around timing for securing the necessary regulatory
approvals for marijuana cultivation, the lease with Marengo Cannabis LLC was
amended on June 27, 2022 to restructure monthly rent payments over the course of
the lease such that rent payments are scheduled begin in January, 2023. The rent
was restructured such that the total rent over the life of the lease does not
change. Due to the uncertainty of the timing for receipt of cash rent, the Trust
concluded in the first quarter of 2022 that income from this lease will be
considered on a cash basis rather than on a straight-line basis until there is
more certainty regarding the ability to pay rent from commencement of
operations.



On January 1, 2022, PW CO CanRE Grail LLC ("PW Grail"), a wholly owned
subsidiary entered into a new triple-net lease (the "Sandlot Lease") on the same
economic terms as the former lease, with a new tenant, The Sandlot, LLC ("SL
Tenant"). The term of the Sandlot Lease is 20 years and provides four options to
extend for additional five-year periods and it was agreed upon to increase the
construction budget by $71,000. Power REIT's total commitment to this project is
approximately $2,432,000. On June 1, 2022, the lease was amended to restructure
the timing of the rent payments but the total straight-line rent over the life
of the lease is unchanged and an additional guarantor was added to the lease.
Revenue recognition for the Sandlot Lease is currently being handled on a
cash-basis and the Trust may commence straight-lining based on an ongoing
assessment of the ability of the tenant to pay rent.



  18







On January 1, 2022, the Walsenburg Lease was amended ("Walsenburg Lease
Amendment") to provide funding in the amount of $625,000 for the addition of
processing space and equipment that will be housed on another Power REIT
property pursuant to a sublease. The term of the Walsenburg Lease Amendment is
ten years with no renewal options. Revenue recognition for this lease amendment
is currently being handled on a cash-basis.



On March 1, 2022, the Sweet Dirt Lease was amended (the "Sweet Dirt Lease Second
Amendment") to provide funding in the amount of $3,508,000 to add additional
items to the property improvement budget for the construction of a Cogeneration
/ Absorption Chiller project to the Sweet Dirt Property. The term of the Sweet
Dirt Lease Second Amendment is coterminous with the original lease and is
structured to provide an annual straight-line rent of approximately $654,000. A
portion of the property improvement, amounting to $2,205,000, will be supplied
by IntelliGen Power Systems LLC which is owned by HBP, an affiliate of David
Lesser, Power REIT's Chairman and CEO. As of June 30, 2022, $1,102,500 has been
paid to IntelliGen Power Systems LLC for equipment supplied.



On March 31, 2022, Power REIT, through a newly formed wholly owned subsidiary,
PW MillPro NE LLC, ("PW MillPro"), acquired a 1,121,513 square foot greenhouse
cultivation facility (the "MillPro Facility") on an approximately 86-acre
property and a separate 4.88-acre property with a 21-room employee housing
building (the "Housing Facility") for $9,350,000 and closing costs of
approximately $91,000 located in O'Neill, Nebraska. As part of the transaction,
the Trust agreed to fund improvements including the replacement of Energy
Curtains for $534,430. Simultaneous with the acquisition, PW MillPro entered
into a 10-year "triple-net" lease (the "MillPro Lease") with Millennium Produce
of Nebraska LLC ("MillPro"), a subsidiary of Millennium Sustainable Ventures
Corp., of which David Lesser is CEO and Chairman. MillPro will operate the
MillPro Facility cultivating tomatoes. The lease requires MillPro to pay all
property related expenses including maintenance, insurance and taxes. The
MillPro Lease is structured to provide an annual straight-line rent of
approximately $1,099,387, representing an estimated yield on costs of 11%. After
the initial 10-year term, the MillPro Lease provides four, five-year renewal
options. The rent for the MillPro Lease is structured whereby after the initial
10-year term, the monthly rent increases by 10% at the first renewal option, and
5% at each successive renewal option (second, third, and fourth).



This acquisition is accounted for as asset acquisitions under ASC 805-50
Business Combinations - Related Issue. Power REIT has established a depreciable
life for the property improvements of 20 years for greenhouse and 39 years
for
the housing facility.


On May 1, 2022, PW CO CanRE MF LLC ("CanRE MF"), a wholly owned subsidiary of
the Trust, entered into a new triple-net lease (the "EB Lease") with Elevate &
Bloom, LLC ("EB Tenant") for one of the two subdivided lots owned in Ordway CO
and previously occupied by PSP Management LLC ("PSP") which was evicted. The
term of the EB Lease is 20 years and provides two options to extend for
additional five-year periods. Power REIT's total commitment to this project
including land purchased is approximately $1,282,000 with $750,283 remaining to
be funded. The EB Lease also has financial guarantees from affiliates of the EB
Tenant. The EB Tenant intends to operate as a licensed cannabis cultivation and
processing facility. The EB Lease is structured to provide an annual
straight-line rent of approximately $239,000, representing an approximately
18.6% unleveraged FFO yield on invested capital.



On June 1, 2022, PW CO CanRE Apotheke LLC ("CanRE Apotheke") amended its lease
with its tenant (the "Apotheke Tenant") to provide $364,650 for additional
improvements to the property leased to the Apotheke Tenant as well as to
restructure the timing of lease payments. The additional revenue on an
annualized straight-line basis is approximately $62,000 which represents
approximately 17% unleveraged FFO yield. However, based on the history of
payments, rent for this property is currently being treated on a cash basis and
not on a straight-line basis. Revenue recognition for the CanRE Apotheke
property is currently being handled on a cash-basis and the Trust may commence
straight-lining based on an ongoing assessment of the ability of the tenant
to
pay rent.



  19







The following table is a summary of the Trust's properties as of August 2022:



   Property                                                                                                           Gross Book
  Type/Name       Location      Acres          Size(1)       Lease Start    Term (yrs)(2)       Rent ($) (3)          Value (4)
Railroad
Property
P&WV - Norfolk
Southern         PA/WV/OH                      112 miles       Oct-64                   99     $      915,000       $    9,150,000

Solar Farm
Land
                 Salisbury,
PWSS             MA                   54             5.7       Dec-11                   22             89,494            1,005,538
                 Tulare
PWTS             County, CA           18             4.0       Mar-13                   25             32,500              310,000
                 Tulare
PWTS             County, CA           18             4.0       Mar-13                   25             37,500              310,000
                 Tulare
PWTS             County, CA           10             4.0       Mar-13                   25             16,800              310,000
                 Tulare
PWTS             County, CA           10             4.0       Mar-13                   25             29,900              310,000
                 Tulare
PWTS             County, CA           44             4.0       Mar-13                   25             40,800              310,000
                 Kern
PWRS             County, CA          447            82.0       Apr-14                   20            803,117            9,183,548
                 Solar Farm
                 Land Total          601           107.7                                       $    1,050,111       $   11,739,086

Greenhouse -
Cannabis
                 Crowley
19977 10         County, CO         2.11          12,996       Jul-19                   20            201,810            1,075,000
                 Crowley
JAB              County, CO         5.20          16,416       Jul-19                   20            294,046            1,594,582
                 Crowley
Grassland        County, CO         5.54          26,940       Feb-20                   20            354,461            1,908,400
                 Crowley
Green Street     County, CO         5.00          26,416       Feb-20                   20            375,159            1,995,101
                 York
Sweet Dirt       County, ME         6.64          48,238       May-20                   20          1,947,087           10,389,857
                 Crowley
Fifth Ace        County, CO         4.32          18,000       Sep-20                   20            261,963            1,364,585
                 Crowley
PSP - Tam 14     County, CO         2.09          24,360       Oct-20                   20                  - (5)        2,531,025
                 Crowley
Green Mile       County, CO         2.11          18,528       Dec-20                   20            252,061            1,311,116
                 Crowley
Apotheke         County, CO         4.31          21,548       Jan-21                   20                  - (8)        2,178,543
                 Riverside
Canndescent      County, CA         0.85          37,000       Feb-21                    5          1,113,018            7,685,000
                 Crowley
Gas Station      County, CO         2.20          24,512       Feb-21                   20            399,748            2,118,717
                 Crowley
Cloud Nine       County, CO         4.00          38,440       Apr-21                   20                  - (7)        2,947,905
                 Huerfano
Walsenburg       County, CO        35.00         102,800       May-21                   20                  - (8)        4,502,001
Vinita           Craig
Cannabis         County, OK         9.35          40,000       Jun-21                   20                  - (8)        2,650,000
                 Crowley
JKL              County, CO        10.00          24,880       Jun-21                   20                  - (9)        2,928,293
                 Marengo
Marengo          Township,
Cannabis         MI                61.14         556,146       Sep-21                   20                  - (8)       25,523,362
Green Leaf       Crowley
Lane             County, CO         5.20          15,000       Nov-21                   20            262,718            1,358,664
                 Crowley
The Sandlot      County, CO         4.41          27,988       Jan-22                   20                  - (8)        2,431,513
Elevate &        Crowley
Bloom - Tam 13   County, CO         2.37           9,384       May-22                   20            238,581 (6)        1,281,559

Greenhouse -
Produce
Millennium
Produce of       Holt
Nebraska         County, NE        90.88       1,121,153       Apr-22                   10          1,099,387            9,884,430

                 Greenhouse
                 Total            262.72       2,210,745                                       $    6,800,039       $   87,659,653
Grand Total                                                                                    $    8,765,150       $  108,548,739




                 1 Solar Farm Land size represents Megawatts and CEA property
                 size represents greenhouse square feet.
                 2 Not including renewal options.
                 3 Rent represents annualized straight line net rent.
                 4 Gross Book Value represents total capital commitment which
                 includes the initial purchase price (excluding closing costs)
                 plus the budget of construction - the actual amount spent could
                 differ from the total budget.
                 5 Tenant was evicted as of Nov 2021-evaluating potential
                 replacement tenant.
                 6 Replacement tenant for half of PSP property- refer to Footnote
                 4.
                 7 Eviction order granted in January 2022 and tenant is appealing
                 - see legal proceedings.
                 8 Based on the uncertainty of collectability of rent, a
                 write-off was taken to eliminate the impact of straight-lining
                 rent. Going forward, rent will either be treated on a cash basis
                 or a straight-line basis as applicable.
                 9 Eviction proceedings is in process.
                 10 An assignment of Lease Agreement was signed to change the
                 name of the tenant from JAB to 19977 LLC for the Tam 18
                 property.

                 Note: Size, Rent and Gross Book Value assume completion of
                 approved construction



  20







Critical Accounting Policies



The consolidated financial statements are prepared in conformity with U.S. GAAP,
which requires the use of estimates, judgments and assumptions that affect the
reported amounts of assets and liabilities, the disclosure of contingent assets
and liabilities at the date of the consolidated financial statements, and the
reported amounts of revenues and expenses in the periods presented. We believe
that the accounting estimates employed are appropriate and resulting balances
are reasonable; however, due to inherent uncertainties in making estimates,
actual results may differ from the original estimates, requiring adjustments to
these balances in future periods. The critical accounting estimates that affect
the consolidated financial statements and the judgments and assumptions used are
consistent with those described under Part II, Item 7 of the 2021 10-K.



Cannabis Price Compression



The national regulated cannabis market has experienced significant price
compression over the last few quarters mainly driven by increased cultivation
capacity in certain markets beyond demand as well as the impact from more states
legalizing cannabis which has impacted demand in other States. We are
continually monitoring tenant viability, their ability to pay rent, and are
committed to work with our tenants based on making a realistic assessment of
their viability. As part of this process, we have entered into lease
modifications with certain of our tenants to help them continue to work through
the impact of the price compression which in some markets is currently below the
cost of production which is not sustainable and should ultimately lead to a
price recovery. The Trust's investment thesis is that greenhouse cultivation is
the sustainable approach from both an environmental and economic perspective and
that the price compression should ultimately help move cultivation towards
greenhouses.



Results of Operations


Three Months Ended June 30, 2022 and 2021




Revenue during the three months ended June 30, 2022, and 2021 was $2,232,953 and
$2,267,848, respectively. Revenue during the three months ended June 30, 2022,
consisted of revenue from lease income from direct financing lease of $228,750,
rental income of $2,004,199 and miscellaneous income of $4. The decrease in
total revenue was primarily related to a $336,209 decrease in rental income from
unrelated parties, offset by an increase of $305,310 in rental income from
related parties, and a decrease in other income of $3,996. Expenses for the
three months ended June 30, 2022 increased by $559,872 as compared to total
expenses for the three months ended June 30, 2021 primarily due to an increase
in general and administrative expenses of $103,849, an increase in amortization
of intangible assets of $44,888, an increase in interest expense of $169,099 and
an increase in depreciation expense of $242,005. Net income attributable to
Common Shares during the three months ended June 30, 2022 and 2021 was $781,722
and $1,376,493, respectively. Net income attributable to common shares decreased
by $594,771 primarily due to the decrease in rental income along with an
increase in depreciation, interest and general and administrative expenses.

For the three months ended June 30, 2022 and 2021, we paid a cash dividend to our holders of Series A Preferred Stock of $163,206 and $163,202, respectively.

Six Months Ended June 30, 2022, and 2021

Revenue during the six months ended June 30, 2022, and 2021 was $4,218,469 and
$4,088,775, respectively. Revenue during the six months ended June 30, 2022,
consisted of rental income of $3,760,950, direct financing lease income of
$457,500 and other income of $19. The increase in total revenue was primarily
related to a $643,326 increase in rental income from transactions with related
parties, offset by a $509,405 decrease in rental income from unrelated parties
and a decrease in other income of $4,227. Expenses for the six months ended June
30, 2022 increased by $834,709 as compared to total expenses for the six months
ended June 30, 2021 primarily due to an increase in general and administrative
expenses of $231,604, an increase in depreciation expense of $334,491, an
increase in interest expense of $178,826 and to a lesser extent, an increase in
amortization of intangible assets of $89,775. Net income attributable to common
shares during the six months ended June 30, 2022 and 2021 was $1,616,395 and
$2,321,411, respectively. Net income attributable to common shares decreased by
$705,016 primarily due to an increase in depreciation expense, general and
administrative expenses, amortization of intangible assets, an increase in
interest expense and the write off in rental income of $302,000 resulting from
the adjustment of eliminating the straight-line rent for five tenants.



For the six months ended June 30, 2022, and 2021, we paid a cash dividend to our holders of Series A Preferred Stock of $326,413 and $326,412, respectively.

Liquidity and Capital Resources




Our cash and cash equivalents totalled $1,191,708 as of June 30, 2022, a
decrease of $1,979,593 from December 31, 2021. During the six months ended June
30, 2022, the decrease of cash was primarily due to the increase in expenses and
construction in progress payments.



With the cash available as of July 2022 coupled with the availability of the
Debt Facility, we believe these resources will be sufficient to fund our
operations and commitments. Our cash outlays, other than acquisitions, property
improvements, dividend payments and interest expense, are for general and
administrative ("G&A") expenses, which consist principally of legal and other
professional fees, consultant fees, NYSE American listing fees, insurance,
shareholder service company fees and auditing costs.


  21






To meet our working capital and longer-term capital needs, we rely on cash
provided by our operating activities, proceeds received from the issuance of
equity securities and proceeds from borrowings which may be secured by lien on
assets. Power REIT is currently focused on non-dilutive capital sources, such as
debt and the potential to issue additional preferred stock, in order to fund
property improvements for our existing portfolio as well as additional
acquisitions.



Based on our leases in place and rental income as of June 30, 2022, we
anticipate generating $11,959,403 in cash rent over the next twelve months. At
June 30, 2022, we owed debt in the principal amount of $34,992,031, of which
$1,706,498 is due in the next twelve months. We anticipate that our cash from
operations will be sufficient to support our operations; however additional
acquisition of real estate may require us to seek to raise additional financing.
There can be no assurance that financing will be available when needed on
favorable terms.



FUNDS FROM OPERATIONS - NON-GAAP FINANCIAL MEASURES

We assess and measure our overall operating results based upon an industry
performance measure referred to as Core Funds From Operations ("Core FFO") which
management believes is a useful indicator of our operating performance. Core FFO
is a non-GAAP financial measure. Core FFO should not be construed as a
substitute for net income (loss) (as determined in accordance with GAAP) for the
purpose of analyzing our operating performance or financial position, as Core
FFO is not defined by GAAP. The following is a definition of this measure, an
explanation as to why we present it and, at the end of this section, a
reconciliation of Core FFO to the most directly comparable GAAP financial
measure. Management believes that alternative measures of performance, such as
net income computed under GAAP, or Funds From Operations computed in accordance
with the definition used by the National Association of Real Estate Investment
Trusts ("NAREIT"), include certain financial items that are not indicative of
the results provided by our asset portfolio and inappropriately affect the
comparability of the Trust's period-over-period performance. These items include
non-recurring expenses, such as one-time upfront acquisition expenses that are
not capitalized under ASC-805 and certain non-cash expenses, including
stock-based compensation expense, amortization and certain up front financing
costs. Therefore, management uses Core FFO and defines it as net income
excluding such items. We believe that Core FFO is a useful supplemental measure
for the investing community to employ, including when comparing us to other
REITs that disclose similarly Core FFO figures, and when analyzing changes in
our performance over time. Readers are cautioned that other REITs may use
different adjustments to their GAAP financial measures than we use, and that as
a result, our Core FFO may not be comparable to the FFO measures used by other
REITs or to other non-GAAP or GAAP financial measures used by REITs or other
companies.


  22






A reconciliation of our Core FFO to net income for the six months ended June 30, 2022, and 2021 is included in the table below:



                        CORE FUNDS FROM OPERATIONS (FFO)
                                  (Unaudited)


                                 Three Months Ended June 30,          Six Months Ended June 30,
                                    2022               2021              2022             2021
Revenue                        $     2,232,953      $ 2,267,848     $    4,218,469     $ 4,088,775

Net Income                     $       944,928      $ 1,539,695     $    1,942,808     $ 2,647,823
Stock-Based Compensation               109,100           86,815            218,200         152,973
Interest Expense -
Amortization of Debt Costs              21,818            8,528             43,794          17,055
Amortization of Intangible
Lease Asset                            104,174           59,286            208,346         118,571
Amortization of Intangible
Lease Liability                         (9,926 )              -            (19,851 )             -
Depreciation on Land
Improvements                           388,520          146,515            677,057         342,566
Core FFO Available to
Preferred and Common Stock           1,558,614        1,840,839          3,070,354       3,278,988

Preferred Stock Dividends             (163,206 )       (163,202 )         (326,413 )      (326,412 )

Core FFO Available to Common
Shares                         $     1,395,408      $ 1,677,637     $    2,743,941     $ 2,952,576

Weighted Average Shares
Outstanding (basic)                  3,367,261        3,312,001          3,367,396       3,033,751

Core FFO per Common Share                 0.41             0.51               0.81            0.97

© Edgar Online, source Glimpses

All news about POWER REIT
08/30Power Reit : Submission of Matters to a Vote of Security Holders (form 8-K)
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08/12POWER REIT Management's Discussion and Analysis of Financial Condition and Results of ..
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08/12Power REIT Reports Earnings Results for the Second Quarter and Six Months Ended June 30..
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08/12Power Reit : Stable Quarterly FFO with Potential for Significant Internal Growth - Form 8-..
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08/12Power reit provides corporate update
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08/12Power reit provides corporate update
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08/12North American Morning Briefing: Stock Futures -2-
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07/18Power Reit : Other Events (form 8-K)
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07/05Power Reit : Other Events, Financial Statements and Exhibits (form 8-K)
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05/10Power REIT Provides Quarterly Update
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Analyst Recommendations on POWER REIT
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Financials (USD)
Sales 2021 8,46 M - -
Net income 2021 5,14 M - -
Net Debt 2021 20,0 M - -
P/E ratio 2021 49,9x
Yield 2021 -
Capitalization 38,2 M 38,2 M -
EV / Sales 2020 16,2x
EV / Sales 2021 29,4x
Nbr of Employees 2
Free-Float 85,5%
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Last Close Price 11,26
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Managers and Directors
David H. Lesser Chairman-Trustees Board, CEO, CFO & Secretary
Virgil E. Wenger Independent Trustee
Patrick R. Haynes Independent Trustee
William S. Susman Independent Trustee
Dionisio D'Aguilar Independent Trustee
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POWER REIT-83.66%38
EQUINIX, INC.-31.62%52 679
REALTY INCOME CORPORATION-16.86%36 758
DIGITAL REALTY TRUST, INC.-42.21%28 453
ALEXANDRIA REAL ESTATE EQUITIES, INC.-36.60%23 064
W. P. CAREY INC.-10.36%14 188