Power REIT(PW)

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Power REIT(PW) - 2023 Q1 - Quarterly Report
2023-05-15 20:22
Financial Performance - Total revenue for the three months ended March 31, 2023, was $1,004,732, a decrease from $1,985,516 in the same period of 2022, primarily due to a $338,016 decrease in rental income from related parties and a $724,043 decrease from unrelated parties [111]. - The company reported revenue of $1,004,732 for the three months ended March 31, 2023, a decrease of 49.5% compared to $1,985,516 in the same period of 2022 [120]. - Net loss attributable to common shares for the three months ended March 31, 2023, was ($502,253), a decrease of $1,336,926 compared to net income of $834,673 in the same period of 2022 [111]. - The net loss for the quarter was $339,046, compared to a net income of $997,880 in the prior year [120]. - Core Funds From Operations (Core FFO) available to common shares was $(632,641) for Q1 2023, down from $1,348,533 in Q1 2022, resulting in a Core FFO per common share of $(0.19) compared to $0.40 [120]. Cash and Liquidity - As of March 31, 2023, the Trust's consolidated balance sheet reflected $5.3 million in cash and cash equivalents, including $1 million of restricted cash related to a credit facility [101]. - As of March 31, 2023, the company's cash and cash equivalents totaled $5,306,664, an increase of $1,458,793 from December 31, 2022 [113]. - The company had approximately $4.3 million of non-restricted cash available as of March 31, 2023, with potential asset sales expected to support operations [116]. - There is substantial doubt regarding the company's ability to continue as a going concern due to net losses, expected reduced revenue, and increased property maintenance expenses [116]. - The company is focusing on selling properties and improving collections from existing tenants to alleviate liquidity concerns [116]. - The company may need to raise additional capital to meet obligations, with no assurance that financing will be available on favorable terms [114]. Asset Management and Strategy - The Trust completed sales of assets for total gross proceeds of $2.5 million in early 2023, with additional properties being marketed for sale or lease [102]. - The Trust aims to improve its portfolio by selling non-core properties and re-leasing vacant or underperforming assets to enhance overall performance [103]. - The Trust's business strategy includes raising capital by monetizing embedded value in its portfolio and reducing debt levels to strengthen its balance sheet [98]. - The Trust is exploring strategic transactions, including potential mergers, to enhance shareholder value and capitalize on acquisition opportunities [105]. Sustainability - The Trust's greenhouse properties utilize approximately 70% less energy and 95% less water compared to traditional growing methods, representing a sustainable cultivation solution [96]. Shareholder Information - The Trust accrued a quarterly dividend of approximately $163,000 ($0.484375 per share) on its 7.75% Series A Cumulative Redeemable Perpetual Preferred Stock [95]. - The weighted average shares outstanding (basic) increased to 3,389,661 in Q1 2023 from 3,367,531 in Q1 2022 [120].
Power REIT(PW) - 2022 Q4 - Annual Report
2023-03-31 20:23
FORM 10-K (Mark One) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OFTHE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 001-36312 POWER REIT (Exact name of registrant as specified in its charter) | Maryland | 45-3116572 | | --- | --- | | (State or other jurisdiction | (I.R.S. Employer | | o ...
Power REIT(PW) - 2022 Q3 - Quarterly Report
2022-11-14 21:01
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 001-36312 (Commission File Number) POWER REIT (Exact name of registrant as specified in its charter) Maryland 45-3116572 (State or other jurisdiction of incorporation or organization) 301 Winding ...
Power REIT(PW) - 2022 Q2 - Quarterly Report
2022-08-12 21:16
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 001-36312 (Commission File Number) POWER REIT (Exact name of registrant as specified in its charter) Maryland 45-3116572 (State or other jurisdiction of incorporation or organization) 301 Winding Road, ...
Power REIT(PW) - 2022 Q1 - Quarterly Report
2022-05-09 20:42
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 001-36312 (Commission File Number) POWER REIT (Exact name of registrant as specified in its charter) Maryland 45-3116572 (State or other jurisdiction of incorporation or organization) 301 Winding Road ...
Power REIT(PW) - 2021 Q4 - Annual Report
2022-03-31 20:52
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OFTHE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-36312 POWER REIT (Exact name of registrant as specified in its charter) | Maryland | 45-3116572 | | --- | --- | | (State or Other Jurisdiction | (I.R.S. Employer | | of Incorporation or organization) | Identification No.) | 301 Winding Road, Old Bethpage, New York 11804 (Address of principal executive o ...
Power REIT(PW) - 2021 Q3 - Quarterly Report
2021-11-15 21:07
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 001-36312 (Commission File Number) POWER REIT (Exact name of registrant as specified in its charter) Maryland 45-3116572 (State or other jurisdiction of incorporation or organization) 301 Winding ...
Power REIT(PW) - 2021 Q2 - Quarterly Report
2021-08-06 10:02
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 001-36312 (Commission File Number) POWER REIT (Exact name of registrant as specified in its charter) Maryland 45-3116572 (State or other jurisdiction of incorporation or organization) 301 Winding Road, ...
Power REIT (PW) Investor Presentation - Slideshow
2021-05-24 17:10
Profit | Planet | People Sustainable Real Estate for the Cultivation of Cannabis and Food Investor Presentation - May 2021 NYSE American Tickers: PW and PW.PRA Forward-Looking Statements Power REIT (NYSE - AMEX: PW and PW.PRA) ("Power REIT" or the "Trust") has filed a registration statement (including a prospectus supplement and accompanying prospectus) with the SEC for the offering referred to in this communication. Before you invest, you should read the prospectus supplement and accompanying prospectus, a ...
Power REIT(PW) - 2021 Q1 - Quarterly Report
2021-05-07 10:15
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | 45-3116572 | | --- | | Maryland | (State or other jurisdiction of incorporation or organization) 301 Winding Road, Old Bethpage, NY 11804 (Address of principal executive offices) (Zip Code) (212) 750-0371 For the quarterly period ended March 31, 2021 OR [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE A ...