Power REIT discloses NYSE listing compliance notice
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 04 2024
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Compliance Issue: Power REIT has been notified by NYSE Regulation that it is not in compliance with listing standards due to insufficient stockholders' equity of $322,626 as of June 30, 2024, and reported losses in two of the last three fiscal years.
Exemption Status: The Trust is not eligible for any exemptions from the stockholders' equity requirements outlined in Section 1003(a) of the NYSE American Company Guide.
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Analyst Views on PW
About PW
Power REIT (the Trust) is an internally managed real estate investment trust. The Trust is engaged in the ownership, leasing, acquisition, development, and disposition of special purpose real estate assets. The Trust owns a portfolio of real estate assets related to transportation, energy infrastructure and Controlled Environment Agriculture (CEA) in the United States. It owns its assets through direct and indirect wholly owned and special purpose subsidiaries. The Trust’s assets consist of approximately 112 miles of railroad infrastructure and related real estate which is owned by its subsidiary, Pittsburgh & West Virginia Railroad (P&WV), over 447 acres of fee simple land leased to a number of utility scale solar power generating projects with an aggregate generating capacity of approximately 82 Megawatts (MW) and over 239 acres of land with approximately 2,066,000 square feet of existing or under construction CEA properties in the form of greenhouses.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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