Power REIT Announces the Acquisition of Greenhouse Property for Cannabis Cultivation and Processing
Power REIT (MD) (PW)
NASDAQ:AMEX Investor Relations:
pwreit.com/?page_id=11
Company Research
Source: GlobeNewswire
Old Bethpage, New York, March 20, 2020 (GLOBE NEWSWIRE) -- Power REIT (NYSE American: PW) announces that it has completed the acquisition of 5.2 acre property in southern Colorado for the construction of a greenhouse cultivation facility through a wholly owned subsidiary. Power REIT’s total investment will be approximately $1 million and has a lease that provided straight-line annual rent estimated to be approximately $192,000 which translates to an approximate 19% yield. The acquisition complements 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, “This acquisition represents additional progress with respect to our n
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News
- Power REIT (NYSE: PW) is now covered by analysts at StockNews.com. They set a "sell" 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 Notice Resolving NYSE American Listing Standards Deficiency [Yahoo! Finance]Yahoo! Finance
PW
Sec Filings
- 10/31/24 - Form 10-Q
- 9/26/24 - Form 8-K
- 9/26/24 - Form 8-K
- PW's page on the SEC website