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Power REIT (PW)

NYSE American - NYSE American Delayed Price. Currency in USD
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18.50+2.80 (+17.83%)
At close: 04:00PM EDT
18.48 -0.02 (-0.11%)
After hours: 05:00PM EDT
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  • M
    MARTINEZ
    God almighty had been doing great things in life but the greatest he did was to have connected me to this Trader that has turn my life around. Some months ago I started investing with Mr. Jack Anthony. and it was very successful I was able to earn over 34,000$ weekly.. with an investment of 6000$ it been so amazing trading and investing with Mr Jack Anthony platform, he can be contacted
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    @Jack_Anthony55
    Bullish
  • I
    ICS Barry
    Sure sounds like PW has to pay dividends to common shareholders as well. Once this happens, buckle your seat belts. Back to $30+

    https://finance.yahoo.com/news/7-best-bargain-stocks-buy-155546825.html
    Bullish
  • K
    Kevin Football
    IIPR down 14% and PW up 14% weird
  • I
    ICS Barry
    Does anyone know how much of PW's revenue comes from cannabis tennants?
    Bullish
  • J
    Joel
    The worst news last year was the licensing problem for their largest cannabis greenhouse purchase. The best news this year buried in their last update was the facility got licensed and operations started. The update also mentioned that FFO would have nearly doubled to 78 cents last quarter had this new facility been operating. And yet the stock is $16 and change - I just re-bought after losing a little with a $25 trade. Also, I think its a given that Republicans will take back congress so chances of easing cannabis banking laws which could ruin PW's business model are pretty slim.
  • F
    Freek
    I think what's happening is quite easy to explain. This stock has a very small market cap, so huge swings are normal. Also, PW is very undervalued right now. I sold all my shares @40 with no gain or loss on it. The reason I sold was because they invested in a tomato production facility, which kinda breaks the thesis IMO. But it should be trading around 30-40 IMO.
    Bullish
  • R
    Roshambo
    What the heck is happening and why
  • M
    MJ Stock Trader
    Power REIT Announces Rights Offering to Existing Common Shareholders to Raise Capital for Acquisitions
    7:30 AM ET 12/18/20 | GlobeNewswire

    Sets December 28, 2020 as Record Date

    Old Bethpage, New York, Dec. 18, 2020 (GLOBE NEWSWIRE) -- Power REIT (NYSE-AMEX: PW and PW.PRA) ("Power REIT" or the "Trust") today announced that it intends to conduct a rights offering (the "Rights Offering"). Power REIT is conducting the Rights Offering to offer existing holders of its Common Shares the ability to participate in providing capital to the Power REIT on a non-dilutive basis. The proceeds are intended to be used primarily to finance acquisitions of real property assets, in particular real estate within the Controlled Environment Agriculture ("CEA") sector, and to fund our subsidiaries. In addition, the proceeds may be used to retire all or a portion of any debt, to redeem any outstanding preferred stock, or for working capital purposes, including the payment of distributions, interest and operating expenses.

    Power REIT has established December 28, 2020 at 5:00 PM Eastern Time as the record date (the "Record Date") for the Rights Offering.

    Upon commencement of the planned Rights Offering, the Trust will distribute non-transferable rights (the "Rights") to purchase additional shares of Power REIT's common stock to existing Power REIT common stockholders and holders of outstanding Power REIT options. Additionally, holders of Rights may subscribe for additional shares of our Common Shares through an over-subscription privilege.

    No rights will be distributed until the final terms of the Rights Offering, including the subscription price and the expiration date for the Rights, have been set forth in a final prospectus supplement that will be filed with the SEC and distributed to stockholders of the Trust's Common Shares as of the Record Date.

    A Registration Statement relating to the Rights offering has been filed with the Securities and Exchange Commission but has not yet become effective. The Trust may not accept any offers to purchase Power REIT Common Shares pursuant to the Rights prior to the time the Registration Statement becomes effective.

    This Press Release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
  • S
    Sandra
    nice business update. congrats to the company... "Commenting on the results and 2020 achievements, David Lesser, Chief Executive Officer stated, “The updated business plan that Power REIT put into motion in the second half of 2019 is driving substantial growth, demonstrated by Core FFO per common share of $0.51 in the fourth quarter and $1.34 for the year in 2020, up 200% and 113% year over year, respectively. Moreover, with the completion of our successful Rights Offering, we have capital to continue to deploy into additional accretive acquisitions.” Mr. Lesser continued, “Our dynamic growth is a function of the attractive yields Power REIT can achieve with its strategic CEA investments coupled with our relatively small size which amplifies the impact of these transactions. At a recent stock price of $41.00 and forward Core FFO run rate of $3.16 per share, Power REIT trades at a 12.9x multiple. We believe our growth rate and relatively low forward Core FFO multiple provides a compelling value proposition for investors.”
  • S
    Sandra
    new real estate purchase in California. this company is clicking on all cylinders..... David Lesser, Power REIT’s Chairman and CEO, commented, “This transaction demonstrates Power REIT’s ability to source and close accretive real estate acquisitions that we believe should result in the creation of significant shareholder value. This acquisition expands our national footprint into the California market, which is the largest cannabis market in the United States. The acquisition provides attractive valuation metrics including a discount to replacement cost and a lower price than recent comparable property sales in the market. We are also pleased to establish a relationship with Canndescent which is a sophisticated cannabis operator with premier brands and significant customer loyalty.”

    Adrian Sedlin, Founder and CEO of Canndescent, commented, “We are excited to partner with Power REIT and are already exploring additional pipeline and business opportunities that could be mutually beneficial to us and Power REIT as we both continue to expand our respective businesses.”
    Mr. Lesser concluded, “In addition, we believe that our previously announced Rights Offering is a very investor friendly component of our capital plan that should allow shareholders the opportunity to participate in our immediate growth plans. As previously announced, we have extended the closing on the Rights Offering to February 5, 2021. This was in response to the significant interest we have received and to allow as many shareholders as possible to participate. We are optimistic about our acquisition pipeline and hope to announce additional acquisitions in the near future.”
  • S
    Sandra
    Greystone Capital highlighted a few stocks and Power REIT (NYSE:PW) is one of them. Power REIT (NYSE:PW) is a real estate investment trust that owns sustainable real estate. Year-to-date, Power REIT (NYSE:PW) stock gained 178.6% and on November 6th it had a closing price of $25.70. Here is what Greystone Capital said:

    "I spent a good chunk of the quarter doing a ‘deep dive’ on REITs as a potential investment opportunity for Greystone. I came away with the understanding that REITs can have their place within a concentrated portfolio but like most of our investments, ownership would have to be predicated on the right situation with material upside existing outside of just dividend income and inflation-like growth in rental income or capital appreciation.
    The most well-run REITs with the best property types and locations typically trade above their net asset value (NAV) and can be difficult to purchase at a discount. Occasionally special situations arise, of which I found 2-3 during the quarter and subsequently purchased one for client accounts. Clients now own Power REIT (PW), a specialized REIT with legacy ownership in railroads and solar farm assets, now focused on the acquisition and ownership of Controlled Environment Agriculture (CEA) properties for use by growers and manufacturers of cannabis. This is an interesting area of property ownership that is ripe for growth as nearly all operators within the industry lack access to traditional sources of capital given the perceived risks surrounding their industry and main crop. This is where PW comes in, serving as a landlord and renovation / construction financing arm for cannabis businesses. To date, Power REIT has acquired ten properties totaling nearly 200,000 sq. feet in the past two years alone. These acquisitions combined with their legacy assets should generate core FFO per share of nearly $2.00 for FY2021, with a large acquisition pipeline in place set to further boost earnings moving forward.
    Like most microcaps, Power REIT comes with an embedded discount due to its small size, lack of analyst coverage, and until recently limited investor relations efforts. However, given their phenomenal performance during the past year, massive secular tailwinds, and limited competition, its only a matter of time before continued execution drives the share price higher as the market digest the story and fundamentals. PW currently trades at less than 10x core FFO, a below market multiple, and even cheaper compared to their only publicly traded competitor – Innovative Industrial Properties – which trades at more than 30x core FFO.
    I’ve had numerous conversations with CEO David Lesser, who I believe is the right person to be running this business and someone who understands the opportunity in front of him. I like how he thinks about capital allocation, and I came away from our conversations and from my research thinking that PW is in the early stages of growth and the business could potentially be worth multiples of the current price."
  • M
    MJ Stock Trader
    This stock is the hidden gem of the Cannabis and/or REIT industry. $61 million market cap and I see it going to $100 million soon (50+% higher). Only a few shares out there and the company isn't diluting at all (though I'm not against them doing secondary offerings for prime real estate). I'm going to enjoy the ride to $60+ by summer.
    Bullish
  • M
    Mary
    I got my mail today, ready to send check to PW to exercise my Rights with $26.50 / share.

    Does anyone know what the following mean? Wonder how we can sell the shares in the future if not using our brokerage.

    " Issuance of Common Shares:
    At the completion of the Rights Offering, we will Common Shares in book-entry form at our Transfer Agent. We will not issue any stock certificates. If you participate in the Rights Offering, you will receive a statement of ownership from our transfer agent, Broadridge Corporate Issuer Solutions, Inc., reflecting the shares of Common Shares that you have purchased in the Rights Offering after the closing of the Rights Offering. "
  • A
    Anonymous
    If they can add a 4% spread over borrowing costs based on new acquisitions, that should add $600,000 to cash flow on a yearly basis. Divide by 1.9 million shares or a ..30 per share increase in cash flow.
    Based on latest presentation they are doing .18 per quarter and could go up .075 with acquisitions to .255.
    What is fair value with FFO running at $1 per share per year?
  • K
    Karma Trader
    I recently linked a brokerage account to my company 401k. Now I can also buy individual stocks and narrowed down on PW. Just wondering how many of you have PW in your retirement account?
    BTW I participated in the PW secondary offering and was approved the requested additional shares! Hoorah!
  • S
    Sandra
    I would have expected the gap between the rights price and share price to narrow, which it did for a few days before widening. what is the logic behind buyers purchasing market-based shares at $40 if an equal number are available at $26.50? why wouldn't shareholders sell at $40 and buy back at $26.50? is there a holding period requirement? thank you.
  • m
    marc
    thinking about buying but would like to see a div....FFO of .35.....makes sense they would pay on common shares
  • S
    Sandra
    Power REIT (NYSE-AMEX: PW and PW.PRA) (“Power REIT” or the “Trust”), with a focused “Triple Bottom Line” strategy and a commitment to people, planet, and profit, today announced that it has entered into a debt financing facility with a commercial federally regulated bank (the "Bank") with an initial amount of $20 million (the "Debt Facility"). Power REIT expects to use the Debt Facility proceeds as a growth vehicle to acquire additional greenhouse cultivation properties, as well as fund value-add improvements at its existing greenhouse properties.
  • S
    Steve
    In the s-11 the rights close on 1/21. If PW drags their feet sending the control forms needed, then none of us will be able to exercise our rights. They sure boosted their stock price for a bait and switch.
  • J
    JMarsh
    Seymours $CNBS and Harrison’s $MSOS etfs will continue to push this along with accretive acquisitions… in since the teens and not selling for years… will 10x this puppy
    Bullish
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