secwatch.observer — SEC 8-K summary
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Issuer:     Power REIT (PW)
CIK:        0001532619
Form:       8-K
Filed at:   2021-11-16T23:59:59+00:00
Accession:  0001493152-21-028846
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Power REIT Q3 revenue up 128%, net income per share up 96%, acquires Michigan cannabis facility
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- Q3 revenue $2.55M vs $1.12M YoY; net income per share $0.49 vs $0.25; Core FFO per share $0.62 vs $0.35.
- Acquired ~556K sq ft Michigan cannabis facility for $21.5M; total commitment $25.5M; 20-year lease with ~$5.1M annual rent, 20% yield.
- Forward Core FFO run rate of ~$0.92/share for Q1 2022, implying $3.68 annualized on existing assets.
- Terminated OCG lease, replaced with Golden Leaf Lane; expect full investment return over 3 years plus 13% yield thereafter.
- Filed breach of contract claim against PSP; PSP turned over possession; seeking replacement tenant.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1532619/000149315221028846/0001493152-21-028846-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1532619/000149315221028846/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-21-028846

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