Power REIT Reports Asset Acquisition/Disposition Completion

TL;DR

**Power REIT just completed a major asset move, watch for details on what they bought or sold.**

AI Summary

Power REIT filed an 8-K on January 31, 2024, reporting an event on January 30, 2024, related to the 'Completion of Acquisition or Disposition of Assets.' This filing indicates a significant change in the company's asset portfolio, which could impact its future revenue streams and operational focus. For investors, this matters because the nature of the asset change (acquisition or disposition) will directly affect the company's financial health and strategic direction, potentially influencing stock performance.

Why It Matters

This filing signals a material change in Power REIT's asset base, which could alter its financial performance and risk profile. Investors need to understand the specifics of this transaction to assess its impact on the company's valuation.

Risk Assessment

Risk Level: medium — The filing indicates a significant asset change without specifying if it's an acquisition or disposition, creating uncertainty about its financial impact.

Analyst Insight

A smart investor would await further disclosures from Power REIT to understand the specifics of the asset transaction (acquisition vs. disposition, asset type, value) before making any investment decisions, as this filing lacks critical details.

Key Numbers

• $25 — Liquidation Preference per Share (for Power REIT's 7.75% Series A Cumulative Redeemable Perpetual Preferred Stock)

Key Players & Entities

• Power REIT (company) — the registrant filing the 8-K
• January 30, 2024 (date) — date of the earliest event reported
• January 31, 2024 (date) — date the 8-K was filed
• NYSE (American) (company) — exchange where Power REIT's common shares and preferred stock are registered
• $25 (dollar_amount) — liquidation preference per share for 7.75% Series A Cumulative Redeemable Perpetual Preferred Stock

Forward-Looking Statements

• Power REIT will release further details about the specific assets acquired or disposed of in an upcoming filing or press release. (Power REIT) — high confidence, target: Q1 2024
• The nature of the asset change will significantly impact Power REIT's revenue projections for the next fiscal year. (Power REIT) — medium confidence, target: FY 2024

FAQ

Key Financial Figures

• $25 — Preferred Stock, Liquidation Preference $25 per Share PW.A NYSE (American) I
• $1.2 million — Salisbury, Mass. for gross proceeds of $1.2 million. The purchaser is an unaffiliated third

Filing Documents

• form8-k.htm (8-K) — 34KB
• 0001493152-24-004510.txt ( ) — 244KB
• pw-20240130.xsd (EX-101.SCH) — 4KB
• pw-20240130_def.xml (EX-101.DEF) — 26KB
• pw-20240130_lab.xml (EX-101.LAB) — 36KB
• pw-20240130_pre.xml (EX-101.PRE) — 25KB
• form8-k_htm.xml (XML) — 6KB

From the Filing

UNITED SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported): January 30, 2024 POWER REIT (Exact name of registrant as specified in its charter) Maryland (State or other jurisdiction of incorporation) 001-36312 (Commission File Number) 45-3116572 (IRS Employer Identification No.) 301 Winding Road Old Bethpage , NY 11804 (Address of principal executive offices and Zip Code) Registrant's telephone number, including area code: (212) 750-0371 Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of Each Class Trading Symbol Name of Each Exchange on Which Registered Common Shares PW NYSE (American) 7.75% Series A Cumulative Redeemable Perpetual Preferred Stock, Liquidation Preference $25 per Share PW.A NYSE (American) Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Item 2.01 – Completion of Acquisition or Disposition of Assets On January 30, 2024, a wholly owned subsidiary of Power REIT sold its interest in a ground lease related to utility scale solar farms located in Salisbury, Mass. for gross proceeds of $1.2 million. The purchaser is an unaffiliated third party and the price was established based on an arm's length negotiation. The sale of this property is part of a strategic review by Power REIT. In 2019, Power REIT shifted its to Controlled Environment Agriculture in the form of greenhouses as a technology based real estate opportunity. Power REIT has significant exposure to cannabis cultivation related properties. The market for cannabis at the wholesale level in many markets across the United States has gone through a dramatic change which has put significant pressure the ability of these properties to generate cash flow. We are continuing to work through issues and are exploring options intended to create shareholder value including, but not limited to, additional asset sales. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. POWER REIT Date: January 31, 2024 By /s/ David H. Lesser David H. Lesser Chairman of the Board and Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR