secwatch.observer — SEC 8-K summary
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Issuer:     Power REIT (PW)
CIK:        0001532619
Form:       8-K
Filed at:   2022-05-10T23:59:59+00:00
Accession:  0001493152-22-012640
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Power REIT Q1 revenue up 9% to $1.99M; Core FFO $0.40/share vs $0.46 YoY; tenant issues continue
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- Net income attributable to common shareholders $998K ($0.25 diluted) vs $1.11M ($0.34) YoY.
- Core FFO of $1.35M ($0.40/share) adjusted for $0.06/share straight-line rent elimination on two CO tenants.
- Acquired 1.12M sq ft Nebraska greenhouse for $9.35M; 10-year triple-net lease at ~11% yield.
- Eviction filed against Cloud Nine LLC; tenant posted $25K bond; appeal pending.
- New litigation filed Apr 8 by JKL2 Inc. against Power REIT for fraudulent inducement; eviction process commenced.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1532619/000149315222012640/0001493152-22-012640-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1532619/000149315222012640/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-22-012640

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