Power REIT Announces New Investment Focus - Acquires Three Greenhouse Properties for Cannabis Cultivation and Processing
Power REIT (MD) (PW)
NASDAQ:AMEX Investor Relations:
pwreit.com/?page_id=11
Company Research
Source: GlobeNewswire
Publishes Updated Investor Presentation Old Bethpage, New York, Feb. 06, 2020 (GLOBE NEWSWIRE) -- Power REIT (NYSE American: PW) announces that it has completed the acquisition of two greenhouse properties in southern Colorado through two wholly owned subsidiaries for $3.75 million. The acquisitions represent combined straight-line annual rent estimated to be approximately $700 thousand, which translates to an approximate 18.7% yield. The acquisitions complement Power REIT’s existing high-quality real estate related to transportation infrastructure, alternative energy and Controlled Environment Agriculture (“CEA”). CEA uses innovative methods to grow plants in optimized indoor growing environments for a given crop. Power REIT intends to focus on CEA related real estate for growing various crops, including cannabis. David Lesser, Power REIT’s Chairman and CEO, commented, “These acquisitions represent an expansion of our new focus on investing in CEA greenhouse properties and
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News
- Power REIT (NYSE: PW) is now covered by analysts at StockNews.com. They set a "hold" rating on the stock.MarketBeat
- Power REIT (NYSE: PW) is now covered by analysts at StockNews.com. They set a "hold" rating on the stock.MarketBeat
- Power REIT (NYSE: PW) is now covered by analysts at StockNews.com. They set a "hold" rating on the stock.MarketBeat
- Power REIT (NYSE: PW) is now covered by analysts at StockNews.com. They set a "hold" rating on the stock.MarketBeat
- Power REIT Receives Audit Opinion with Going Concern Explanation [Yahoo! Finance]Yahoo! Finance
PW
Sec Filings
- 3/29/24 - Form 10-K
- 3/29/24 - Form 8-K
- PW's page on the SEC website