secwatch.observer — SEC 8-K summary
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Issuer:     Power REIT (PW)
CIK:        0001532619
Form:       8-K
Filed at:   2022-08-12T23:59:59+00:00
Accession:  0001493152-22-022332
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Power REIT Q2 Core FFO $0.41/share, down 20% YoY; Michigan cannabis licensing delayed
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- Core FFO per share $0.41 vs $0.51 YoY; sequentially flat vs Q1 2022 ($0.40).
- Michigan greenhouse license application submitted, CRA inspection found no deficiencies; BFS approval pending, no rent recognized since Q1 2022.
- Executed seven lease amendments with Colorado tenants to restructure lower near-term rent; total rent unchanged.
- New 20-year triple-net lease with Elevate & Bloom for Ordway, CO; $1.28M commitment, ~18.6% unleveraged FFO yield.
- Portfolio: 2.2M sq ft greenhouses (51% food, 49% cannabis), 7 solar leases (601 acres), 112 miles railroad.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1532619/000149315222022332/0001493152-22-022332-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1532619/000149315222022332/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-22-022332

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