Highest-materiality recent filing
Power REIT appoints Brent Morrison as independent trustee
Brent Morrison appointed independent trustee effective July 6, 2026.
Power REIT announces 1-for-10 reverse stock split effective June 2, 2026
Reverse split ratio 1-for-10; effective 5:00 pm ET June 2, 2026; trading on split-adjusted basis June 3.
Power REIT shareholders elect all four trustee nominees and ratify MaloneBailey as auditor for 2025
David H. Lesser re-elected with 1,340,888 for, 110,723 withheld (non-broker votes 666,148).
Power REIT sets 2025 annual meeting for Aug 27; record date July 28
Annual meeting scheduled for August 27, 2025.
Provided deeds-in-lieu of foreclosure for greenhouse properties in Michigan and Nebraska to lender, releasing remaining collateral and Greenhouse Loan obligations.
Entered ATM sales agreement with A.G.P./Alliance Global Partners to issue common shares; 3.0% commission.
NYSE American rescinded Sept 3 deficiency letter after Power REIT restated preferred shares from mezzanine equity to equity.
Power REIT shareholders elect trustees, ratify auditor, approve say-on-pay
All five trustee nominees elected: Lesser (1.09M for), Haynes (955K), Susman (953K), D'Aguilar (958K) – withholds under 271K.
Error in classification of Series A preferred shares; restatement reclassifies from mezzanine equity to equity.
Power REIT receives NYSE American delisting notice for equity below $2.0M threshold
Stockholders' equity was $322,626 at June 30, 2024, well below the $2.0M minimum required by Section 1003(a)(i).
Power REIT sets 2024 annual meeting for Sept 26; record date Aug 26
Annual meeting of shareholders scheduled for September 26, 2024.
Power REIT receives going concern audit opinion for FY 2023
Independent auditor issued unqualified opinion with explanatory paragraph on going concern.
Power REIT sells ground lease interest in Salisbury solar farm for $1.2M
Gross proceeds of $1.2 million from sale of ground lease interest in utility-scale solar farms in Salisbury, Mass.
Power REIT sells two Colorado cannabis greenhouses for $1.325M; provides seller financing
Sale price of $1,325,000 for Sherman 6 and Tamarack 14 properties in Ordway, CO; one vacant.
Power REIT sells Maine cannabis facility for $4.25M; provides $850K note
Sold interest in Maine cannabis greenhouse to tenant affiliate for $4,250,000.
Power REIT shareholders elect all five trustee nominees and ratify MaloneBailey as auditor
All five trustee nominees elected: David H. Lesser (872,191 for), Virgil E. Wenger (760,289), Patrick R. Haynes III (751,205), William S. Susman (644,223), Dionisio D'Aguilar (752,231).
Power REIT sets Sept 14, 2023 as annual meeting date; record date Aug 14
Annual meeting of shareholders scheduled for September 14, 2023.
Power REIT announces 2022 dividend tax treatment: all preferred distributions ordinary income
For 7.75% Series A Preferred Stock, each quarterly 2022 distribution of $0.484375/share classified entirely as ordinary income.
Power REIT sells five CA solar ground leases for $2.5M; cites cannabis tenant pressures
Sold five ground leases on utility solar farms in Tulare County, CA for $2.5M gross to unaffiliated third party.
Power REIT obtains variances for Michigan cannabis facility; portfolio hit by price compression
Marengo CBA granted variances for energy code, fire suppression, and egress at existing greenhouse, allowing project to advance.
Power REIT shareholders elect trustees, ratify auditor at 2022 annual meeting
All five incumbent trustees re-elected: for votes ranged from 1,150,173 (Susman) to 1,837,409 (D’Aguilar).
Power REIT Q2 Core FFO $0.41/share, down 20% YoY; Michigan cannabis licensing delayed
Core FFO per share $0.41 vs $0.51 YoY; sequentially flat vs Q1 2022 ($0.40).
Power REIT declares quarterly dividend of $0.484375 on Series A Preferred Stock
Quarterly dividend of $0.484375 per share on 7.75% Series A Cumulative Redeemable Perpetual Preferred Stock.
Power REIT sets Aug 30, 2022 as annual meeting date; record date July 28
Board set August 30, 2022 for 2022 annual shareholders meeting.
Power REIT secures CO letter for Michigan cannabis facility; license application submitted
Obtained Certificate of Occupancy letter from Marengo Township on July 8, 2022, after litigation.
Filed state lawsuit in Calhoun County to compel Marengo Township to allow ZBA hearing on agricultural exemption from building permits and CO requirements.
Power REIT Q1 revenue up 9% to $1.99M; Core FFO $0.40/share vs $0.46 YoY; tenant issues continue
Net income attributable to common shareholders $998K ($0.25 diluted) vs $1.11M ($0.34) YoY.
Power REIT declares $0.484375 quarterly dividend on Series A preferred shares
Dividend of $0.484375 per share on 7.75% Series A Cumulative Redeemable Perpetual Preferred Stock.
Power REIT files motion for expedited hearing in lawsuit against Marengo Township
Motion filed April 7, 2022 in U.S. District Court, Western District of Michigan, Case 1:22-cv-00321.
Power REIT files federal lawsuit against Marengo Township, MI over alleged constitutional violations
Lawsuit filed April 1, 2022 by Power REIT subsidiary PropCo in U.S. District Court, Western District of Michigan.
Power REIT reports 2021 annual net income per share up 42%, Core FFO per share up 44%
Revenue $8.46M for 2021, up 98% YoY; net income per basic share $1.41, up 42% from $0.99.
Power REIT acquires 1.1M sq ft tomato greenhouse for $9.35M; 10-year lease yields ~11%
Acquired 1,121,513 sq ft greenhouse in O'Neill, NE for $9.35M; includes employee housing.
Power REIT board member Paula Poskon resigns effective March 22; Trust disputes letter
Paula Poskon resigned from Board of Trustees on March 22, 2022, effective immediately.
Capital commitment of ~$3.5M for installation of cogeneration system at Sweet Dirt greenhouse in York County, Maine.
Power REIT appoints Dionisio D'Aguilar to the Board of Trustees
Dionisio D'Aguilar, 57, appointed to the Board effective March 16, 2022.
Power REIT declares $0.484375 preferred dividend; 2021 distributions all ordinary income
Quarterly dividend of $0.484375 per share on 7.75% Series A Preferred Stock declared, payable March 15, 2022 to holders of record Feb 15, 2022.
Power REIT secures $20M debt facility at 5.52% for greenhouse growth
$20M debt facility with a commercial federally regulated bank; fixed rate 5.52%.
Power REIT Q3 revenue up 128%, net income per share up 96%, acquires Michigan cannabis facility
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.
Power REIT enters new 20-year triple-net lease for CO property; old tenant recovered 36%
Terminated lease with Original Cannabis Growers of Ordway LLC; received $483,743 in rent (36% of $1,358,664 investment).
Capital commitment of $4.1M for additional improvements; straight-line annual rent increases by $830k (20% unleveraged FFO yield).
Power REIT declares quarterly dividend of $0.484375 on 7.75% Series A Preferred Stock
Dividend of $0.484375 per share on 7.75% Series A Cumulative Redeemable Perpetual Preferred Stock.
Acquired 61-acre, 556,146 sq ft cannabis greenhouse for $18.4M; largest acquisition to date.
Power REIT Q2 net income up 236%; Core FFO per share up 76%; forward guidance $3.24
Revenue $2.27M (+133% YoY); net income $1.38M (+236% YoY); diluted EPS $0.41 (+95% YoY).
Power REIT declares $0.484375 quarterly dividend on 7.75% Series A Preferred
Dividend of $0.484375 per share on 7.75% Series A Cumulative Redeemable Perpetual Preferred Stock.
On July 6, 2026, the Board of Trustees (the “Board”) of Power REIT (the “Trust”) appointed Brent Morrison to serve as an independent trustee of the Trust, effective immediately.
On March 22, 2022, Power REIT (“Power REIT” or the “Trust”), the Board of Trustees of Power REIT received by email a resignation letter from Paula Poskon, a member of the Board of Trustees (the “Resignation Letter”), pursuant to which Ms. Poskon resigned as a member of the Board of Trustees effective immediately.
On March 16, 2022, Power REIT (“Power REIT” or the “Trust”), through its Board of Trustees acting pursuant to its bylaws, appointed Dionisio D’Aguilar, age 57, to the Board of Trustees effective immediately.
Max materiality 0.90 · Median 0.55 · Most common event other_material