Power REIT reports 2021 annual net income per share up 42%, Core FFO per share up 44%

Power REIT

2022-Q1 EPS reported $0.25 vs consensus $3.09 ▼ miss (-91.9%)

Revenue $8.46M for 2021, up 98% YoY; net income per basic share $1.41, up 42% from $0.99.
Core FFO per common share $1.93 for 2021, up 44% from $1.34; Q4 Core FFO $0.35, impacted by $0.16 one-time adjustments.
Deployed ~$37M from rights offering, invested ~$48M in 9 greenhouse properties during 2021.
Obtained $20M debt facility at 5.42% interest, converting to 5-year term loan after 12-month draw period.
Portfolio includes 21 greenhouse properties, 7 solar farm ground leases, 112 miles of railroad.

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