PW on NYSE

Power REIT

American real estate investment trust based in Old Bethpage. Summary from the record

$6.99 up 0.00 (0.00%)Price as of Oct 15, 2026 at 17:33 UTC

Last updated Oct 19, 2026.

Overview

Compare with Wheeler Real Estate Investment Trust, Inc., CareTrust REIT, Inc. or LXP Industrial Trust, or pick any stock.

TickerPW on NYSE²
IndustryReal Estate Investment Trusts²
HeadquartersOld Bethpage, United States²
Incorporated inMD⁴
Business address301 Winding Road, Old Bethpage, Ny 11804⁴
Filer categoryNon-accelerated filer, Smaller reporting company⁴
Legal formCOMPANY²
LEI549300GLI9IPZRYGFI71²
StatusActive²
LEI statusLapsed (not renewed)²
Registered addressC/O The Corporation Trust Incorporated, 21201 Baltimore, United States²

See how the biggest companies compare on our leaderboards

82 acres of land with approximately 357,000 square feet of CEA properties in the form of greenhouses (the “Greenhouse Portfolio”).⁵ From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

2038.0%Operating margin⁶

-109.1%Net margin⁶

-34.0%Revenue growth, 2025⁶

-42.7%Return on equity⁶

3.74×Debt to equity⁶

Where the money goes

Where each dollar of revenue went, fiscal 2025

Interest

Interest100¢$2.1M

Out of $2.0M in revenue.⁶ The company lost money this year.

Financial statements

Revenue⁷⁸⁹¹⁰¹¹⁶$2.0M in 2025−8% since 2019

Operating income¹²¹³¹⁴¹⁵¹¹⁶$41.0M in 2025+81% since 2019

Net income⁷⁸⁹¹⁰¹¹⁶-$2.2M in 2025

Every line of the income statement as filed: the last 2 fiscal years, latest first.⁶

Period ending	2025-12-31	2024-12-31
Lease income from direct financing lease railroad	$915.0K	$915.0K
Rental income	$927.4K	$1.9M
Other income	$169.4K	$214.7K
TOTAL REVENUE	$2.0M	$3.0M
Amortization of intangible assets	$227.5K	$227.5K
General and administrative	$1.2M	$1.5M
Property expenses and taxes	$967.3K	$2.0M
Depreciation expense	$63.6K	$819.9K
Impairment expense/Allowance for receivable	$1.2M	$20.0M
Interest expense	$2.1M	$3.9M
TOTAL EXPENSES	$5.7M	$28.4M
Gain (loss) on sale of properties	-$7.6K	$247.1K
Gain on extinguishment of debt	$1.1M
Unrealized loss on marketable securities	-$19.2K
Realized gain on marketable securities	$377.6K
Forgiveness of accounts payable		$350.7K
TOTAL OTHER INCOME	$1.4M	$597.8K
NET LOSS	-$2.2M	-$24.7M
Preferred Stock Dividends	-$652.8K	-$652.8K
NET LOSS ATTRIBUTABLE TO COMMON SHAREHOLDERS	-$2.8M	-$25.4M
Basic	-$0.83	-$7.48
Diluted	-$0.83	-$7.48
Basic	3.4M shares	3.4M shares
Diluted	3.4M shares	3.4M shares
Accumulated undeclared dividend per Series A Preferred Shares:	$1.94	$1.94

Total assets⁷⁸⁹¹⁰¹¹⁶$26.9M in 2025−29% since 2019

Total liabilities⁷⁸⁹¹⁰¹¹⁶$21.8M in 2025−12% since 2019

Shareholders’ equity⁸⁹¹⁰¹¹⁶$5.1M in 2025−46% since 2019

Cash⁷⁸⁹¹⁰¹¹⁶$2.2M in 2025−86% since 2019

Long-term debt⁷⁸⁹¹⁰¹¹⁶$19.2M in 2025−19% since 2019

Every line of the balance sheet as filed: the last 3 fiscal years (annual) or 3 quarters (quarterly), latest first.⁶

Period ending	2025-12-31	2024-12-31	2023-12-31
Land	$4.7M	$4.8M
Greenhouse cultivation and processing facilities, net of accumulated depreciation	$1.1M	$1.2M
Net investment in direct financing lease - railroad	$9.2M	$9.2M
Total real estate assets	$15.0M	$15.1M
Cash and cash equivalents	$2.2M	$2.2M
Restricted cash		$37.1K
Prepaid expenses and deposits	$132.0K	$207.2K
Intangible lease asset, net of accumulated amortization	$2.0M	$2.3M
Deferred rent receivable	$328.3K	$338.1K
Mortgage loan receivables	$981.0K	$1.6M
Assets held for sale	$5.9M	$24.3M
Other assets	$310.4K	$21.4K
TOTAL ASSETS	$26.9M	$46.1M
Accounts payable	$216.8K	$173.7K
Accrued expenses	$234.7K	$166.3K
Liabilities held for sale	$1.4M	$1.6M
Current portion of long-term debt, net of unamortized discount	$759.8K	$17.4M
Long-term debt, net of unamortized discount	$19.2M	$20.0M
TOTAL LIABILITIES	$21.8M	$39.3M
Series A 7.75% Cumulative Redeemable Perpetual Preferred Stock Par Value $25.00 (1,675,000 shares authorized; 336,944 issued and outstanding as of December 31, 2025 and December 31, 2024)	$8.5M	$8.5M
Common Shares, $0.001 par value (98,325,000 shares authorized; 3,661,493 and 3,389,661 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively)	$3.7K	$3.4K
Additional paid-in capital	$48.5M	$47.9M
Accumulated deficit	-$51.9M	-$49.7M
Total Equity	$5.1M	$6.8M	$30.8M
TOTAL LIABILITIES AND EQUITY	$26.9M	$46.1M
Preferred stock, par value	$25.00	$25.00
Preferred stock, shares authorized	1.7M shares	1.7M shares
Preferred stock, shares issued	336.9K shares	336.9K shares
Preferred stock, shares outstanding	336.9K shares	336.9K shares
Common stock, par value	$0.00	$0.00
Common stock, shares authorized	98.3M shares	98.3M shares
Common stock, shares issued	3.7M shares	3.4M shares
Common stock, shares outstanding	3.7M shares	3.4M shares

Period ending	2025-12-31	2024-12-31	2023-12-31
Land	$4.7M	$4.8M
Greenhouse cultivation and processing facilities, net of accumulated depreciation	$1.1M	$1.2M
Net investment in direct financing lease - railroad	$9.2M	$9.2M
Total real estate assets	$15.0M	$15.1M
Cash and cash equivalents	$2.2M	$2.2M
Restricted cash		$37.1K
Prepaid expenses and deposits	$132.0K	$207.2K
Intangible lease asset, net of accumulated amortization	$2.0M	$2.3M
Deferred rent receivable	$328.3K	$338.1K
Mortgage loan receivables	$981.0K	$1.6M
Assets held for sale	$5.9M	$24.3M
Other assets	$310.4K	$21.4K
TOTAL ASSETS	$26.9M	$46.1M
Accounts payable	$216.8K	$173.7K
Accrued expenses	$234.7K	$166.3K
Liabilities held for sale	$1.4M	$1.6M
Current portion of long-term debt, net of unamortized discount	$759.8K	$17.4M
Long-term debt, net of unamortized discount	$19.2M	$20.0M
TOTAL LIABILITIES	$21.8M	$39.3M
Series A 7.75% Cumulative Redeemable Perpetual Preferred Stock Par Value $25.00 (1,675,000 shares authorized; 336,944 issued and outstanding as of December 31, 2025 and December 31, 2024)	$8.5M	$8.5M
Common Shares, $0.001 par value (98,325,000 shares authorized; 3,661,493 and 3,389,661 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively)	$3.7K	$3.4K
Additional paid-in capital	$48.5M	$47.9M
Accumulated deficit	-$51.9M	-$49.7M
Total Equity	$5.1M	$6.8M	$30.8M
TOTAL LIABILITIES AND EQUITY	$26.9M	$46.1M
Preferred stock, par value	$25.00	$25.00
Preferred stock, shares authorized	1.7M shares	1.7M shares
Preferred stock, shares issued	336.9K shares	336.9K shares
Preferred stock, shares outstanding	336.9K shares	336.9K shares
Common stock, par value	$0.00	$0.00
Common stock, shares authorized	98.3M shares	98.3M shares
Common stock, shares issued	3.7M shares	3.4M shares
Common stock, shares outstanding	3.7M shares	3.4M shares

Cash from operations⁷⁸⁹¹⁰¹¹⁶-$68.3K in 2025

Every line of the cash flow as filed: the last 2 fiscal years, latest first.⁶

Period ending	2025-12-31	2024-12-31
Net loss	-$2.2M	-$24.7M
Amortization of intangible lease asset	$227.5K	$227.5K
Amortization of debt costs	$31.4K	$31.4K
Stock-based compensation	$334.2K	$693.6K
Impairment expense/Allowance for receivable	$1.2M	$20.0M
Forgiveness of accounts payable		-$350.7K
Depreciation	$63.6K	$819.9K
Realized gain on marketable securities	-$377.6K
Unrealized gain on marketable securities	$19.2K
Loss (gain) on sale of properties	$7.6K	-$247.1K
Gain on extinguishment of debt	-$1.1M
Interest expense added to debt principal	$1.1M
Deferred rent receivable	$9.8K	$100.9K
Prepaid expenses and deposits	$510.9K	-$454.7K
Other liabilities	-$302.6K	$298.8K
Accounts payable	$39.2K	-$181.7K
Tenant security deposits		-$992.2K
Accrued expenses	$426.5K	$3.5M
Prepaid rent		-$33.0K
Net cash used in operating activities	-$68.3K	-$1.4M
Cash received for sale of properties	$132.3K	$1.3M
Sale of marketable securities	$645.8K
Purchase of marketable securities	-$364.2K	-$9.8K
Unrealized gain on marketable securities		-$79
Cash received for mortgage loan receivables	$129.0K	$498.0K
Net cash provided by investing activities	$542.9K	$1.8M
Proceeds received from debt	$459.9K	$257.1K
Principal payment on debt	-$963.9K	-$2.5M
Cash paid for offering related expenses	-$244.6K
Proceeds from stock issuance	$277.8K
Net cash used in financing activities	-$470.8K	-$2.2M
Net increase (decrease) in cash and cash equivalents and restricted cash	$3.7K	-$1.9M
Interest paid	$947.5K	$1.1M
Land and greenhouse properties transferred in lieu of debt repayment	$17.1M
Mortgage loan receivables entered into in connection with sale of properties	$105.0K	$1.2M
Accrued interest and loan expenses transferred to loan		$3.4M
Equipment written off against financing liabilities	$53.8K
Offering related expenses included in accounts payable	$32.4K

Compare Power REIT with another company

Leadership

Who has led Power REIT, and when. Pick a name to see everywhere that person has worked.

Chief executive

Chair

David H. Lesser2012–2015

Chief financial officer

David H. Lesser2023

201520202025

Chief executive officerJustinian Hobor Jun 1, 2017 to Jun 1, 2017¹⁸
Chief executive officerDavid H. Lesser Jan 13, 2012 to Dec 21, 2023¹⁹
ChairDavid H. Lesser Jan 13, 2012 to Jun 19, 2015¹⁹
Chief financial officerDavid H. Lesser Dec 21, 2023 to Dec 21, 2023²⁰

Board members and other officers (9)

Chief Accounting OfficerSusan Hollander Aug 5, 2020 to Jul 19, 2022²¹
Secretary-TreasurerArun Mittal Jan 13, 2012 to Jan 14, 2013²²
Board memberDionisio D'Aguilar Apr 25, 2022 to Jul 19, 2022²³
Board memberPaula Poskon Aug 5, 2020 to May 14, 2021²⁴
Board memberJustinian Hobor Aug 9, 2016 to Jul 1, 2019²⁵
Board memberDavid H. Lesser Sep 14, 2015 to Dec 21, 2023²⁶
Board memberPatrick R. Haynes Iii. Jan 13, 2012 to Aug 16, 2022²⁷
Board memberVirgil E. Wenger Jan 13, 2012 to Jul 19, 2022²⁸
Board memberWilliam Susman Jan 13, 2012 to Jul 19, 2022²⁹

Timeline

Jun 1, 2017New chief executive Justinian Hobor becomes CEO¹⁸
Jan 13, 2012New chief executive David H. Lesser becomes CEO¹⁹

Filings

123 filings to the SEC since October 2021: 5 annual reports, 16 quarterly reports, 42 major events, 20 insider forms, 26 large holders, 14 other. The latest 20:

The 123 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

11 open-market trades by officers, directors and large owners since October 2021: 9 buys and 2 sales. Grants, option exercises and gifts are left out.

Date	Who	Trade	Shares	Price	Value	Filing
Feb 6, 2026	POSNER HENRY III10% owner	Buy	24,633	$6.61	$162.9K	Form 4
Feb 4, 2026	POSNER HENRY III10% owner	Buy	575	$8.00	$4.6K	Form 4
Feb 3, 2026	POSNER HENRY III10% owner	Buy	647	$8.00	$5.2K	Form 4
Feb 2, 2026	POSNER HENRY III10% owner	Buy	800	$7.93	$6.3K	Form 4
Jan 28, 2026	POSNER HENRY III10% owner	Buy	2,548	$8.41	$21.4K	Form 4
Jan 15, 2026	POSNER HENRY III10% owner	Buy	1,497	$7.75	$11.6K	Form 4
Jan 15, 2026	POSNER HENRY III10% owner	Buy	1,497	$7.75	$11.6K	Form 4
Jan 14, 2026	POSNER HENRY III10% owner	Buy	3,300	$7.10	$23.4K	Form 4
Jan 14, 2026	POSNER HENRY III10% owner	Buy	3,300	$7.10	$23.4K	Form 4
Oct 26, 2021	WENGER VIRGIL EDirector	Sale	582	$51.37	$29.9K	Form 4
Oct 12, 2021	WENGER VIRGIL EDirector	Sale	418	$51.04	$21.3K	Form 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Bradley & Daytona Railway & Land Co. LLCSCHEDULE 13D/A, 10 filings Feb 19, 2026 to Oct 7, 2026³⁰
Henry Posner Iii.SCHEDULE 13D/A, 9 filings Dec 1, 2025 to Aug 14, 2026³¹
Saquib Fasih ToorSCHEDULE 13G, 1 filing Aug 10, 2026³²
Axonic Capital LLCSC 13D/A, 3 filings Jul 25, 2024 to Dec 10, 2024³³
RENAISSANCE TECHNOLOGIES LLCSC 13G/A, 1 filing Feb 10, 2022³⁴

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026. Change is in shares since the quarter before.

Fund	Shares	Value	Share of the fund	Change
Vanguard Capital Management LLC	1,891	$18.2K	0.0%	New
BlackRock, Inc.	1,513	$14.6K	0.0%	New
Vanguard Fiduciary Trust Co	1,127	$10.8K	0.0%	New
Morgan Stanley	810	$7.8K	0.0%	New
Osaic Holdings, Inc.	210	$2.0K	0.0%	New
Tower Research Capital LLC (TRC)	87	$837	0.0%	New
Markowski Investments	70	$673	0.0%	New
Clearstead Advisors, LLC	50	$481	0.0%	New
Wells Fargo & Company/mn	0	$5	0.0%	New

13F reports cover disclosed long positions in U.S. stocks only.

Sources

The numbers on this page point here. Each one links to the record it came from.

1
SEC EDGARPower REIT filings on SEC EDGAR
2
GLEIFPower REIT LEI record (549300GLI9IPZRYGFI71)
3
Yahoo FinancePW quote
4
SEC EDGARPower REIT filings on SEC EDGAR
5
SEC EDGARPower REIT annual report, Item 1 (Business)
6
SEC EDGARPower REIT 10-K for fiscal 2025
7
SEC EDGARPower REIT 10-K for fiscal 2019
8
SEC EDGARPower REIT 10-K for fiscal 2020
9
SEC EDGARPower REIT 10-K for fiscal 2021
10
SEC EDGARPower REIT 10-K for fiscal 2022
11
SEC EDGARPower REIT 10-K for fiscal 2023
12
SEC EDGARPower REIT 10-K for fiscal 2019
13
SEC EDGARPower REIT 10-K for fiscal 2020
14
SEC EDGARPower REIT 10-K for fiscal 2021
15
SEC EDGARPower REIT 10-K for fiscal 2022
16
SEC EDGARPower REIT 10-Q for fiscal 2026
17
SEC EDGARPower REIT 10-Q for fiscal 2026
18
SEC EDGARJustinian Hobor, Chief executive officer
19
SEC EDGARDavid H. Lesser, Chief executive officer
20
SEC EDGARDavid H. Lesser, Chief financial officer
21
SEC EDGARSusan Hollander, Chief Accounting Officer
22
SEC EDGARArun Mittal, Secretary-Treasurer
23
SEC EDGARDionisio D'Aguilar, Board member
24
SEC EDGARPaula Poskon, Board member
25
SEC EDGARJustinian Hobor, Board member
26
SEC EDGARDavid H. Lesser, Board member
27
SEC EDGARPatrick R. Haynes Iii., Board member
28
SEC EDGARVirgil E. Wenger, Board member
29
SEC EDGARWilliam Susman, Board member
30
SEC EDGARBradley & Daytona Railway & Land Co. LLC SCHEDULE 13D/A on Power REIT
31
SEC EDGARHenry Posner Iii. SCHEDULE 13D/A on Power REIT
32
SEC EDGARSaquib Fasih Toor SCHEDULE 13G on Power REIT
33
SEC EDGARAxonic Capital LLC SC 13D/A on Power REIT
34
SEC EDGARRENAISSANCE TECHNOLOGIES LLC SC 13G/A on Power REIT