PW
Power REIT0.9434
+0.0756+8.71%
Dec 16, 3:59:47 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
No earnings call transcript available
Key Stats
Market Cap
3.20MP/E (TTM)
-Basic EPS (TTM)
-1.38Dividend Yield
0%Recent Filings
10-Q
8-K
Shareholders re-elect trustees, ratify auditor
Power REIT shareholders convened their 2025 annual meeting on August 27, re-electing trustees David H. Lesser, Patrick R. Haynes III, William S. Susman, and Dionisio D'Aguilar to one-year terms amid modest withheld votes totaling around 100,000 shares each. They also ratified MaloneBailey LLP as the independent auditor for fiscal 2025, with over 1.99 million votes in favor against 93,812 opposed. The board stays intact. No major disruptions noted.
10-Q
Q2 FY2025 results
Power REIT swung to a Q2 profit of $320,913, up from a $19.1M loss last year, thanks to a $1.1M gain on extinguishing the troubled Greenhouse Loan while revenue dipped 2.4% y/y to $507K on softer other income. Expenses plunged 99% y/y, driven by a tiny $14K impairment versus $17.4M prior, and property costs fell sharply as vacant greenhouses were shed. The settlement on April 11, 2025, wiped out $18M in Michigan and Nebraska assets but freed up retained collateral for future leasing or sales, bolstering liquidity with $1.5M cash against $20.9M long-term debt at fixed 4.3-4.6% rates maturing 2034-2054. Seller-financed notes added $1.6M in receivables, yielding steady interest. Tenant concentration remains a drag, with 95% of revenue from just two lessees.
8-K
Annual meeting scheduled
10-Q
Q1 FY2025 results
Power REIT's Q1 FY2025 revenue dipped 9.1% y/y to $485,794, driven by a 19.1% drop in rental income from cannabis tenant defaults amid industry woes, while railroad and solar leases held steady at 52% and 46% of total. Expenses fell 37.8% y/y to $1.87M, thanks to no impairment or heavy depreciation charges like last year's $549,557 and $488,197 hits on greenhouse assets, narrowing net loss to $1.41M from $2.08M and boosting diluted EPS to -$0.47 from -$0.66—reconciled against 3.39M shares with no anti-dilution. Cash and equivalents stood at $2.02M, with operating cash use at $437K; free cash flow not disclosed in the 10-Q. A January sale of a vacant Colorado greenhouse fetched $200K cash to trim the defaulted $17.7M Greenhouse Loan, but April's deeds-in-lieu settlement shed Michigan and Nebraska properties while retaining Colorado, California, and Oklahoma assets plus $1.56M in mortgages for future value hunts. Tenant concentration risks loom large.
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