Power REIT Dossier
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SectorReal Estate IndustrySpecialized REITs Beta (adjusted)1.25 Intrinsic Value Insufficient data for a value estimateNot enough reliable inputs to publish a fair value for this company yet. Market Price $6.95Price as of 1 Oct 2026 Data confidence Sign in to view data confidence Market Cap $2.6M Enterprise Value $20.4M Shares Outstanding 367.1K diluted Last ex-dividend10 Jan 2013 All prices and values are periodic snapshots, not live quotes. Source dates are shown for reference. ThesisStreet consensus, scenarios, merits, risks, and invalidation triggers Thesis Summary Power REIT is undergoing a severe operational and financial transition, characterized by the near-total exit of its greenhouse cultivation portfolio, high tenant concentration, and persistent net losses. While the trust has returned to positive EPS in some quarters due to non-cash adjustments and asset sales, its core cash generation remains highly constrained, leading to the suspension of its Series A preferred dividends. This suspension has triggered protective voting provisions, resulting in an active proxy push by preferred shareholders to elect two additional trustees. Given the substantial doubt regarding its long-term growth, high leverage, and governance friction, a Sell recommendation is warranted. This section is the 12-month view: analyst targets and the probability-weighted scenarios built from them. The intrinsic value at the top of this page answers a different question: what the business is worth today. Our research · scenarios, merits, risks, and invalidation triggersResearch as of 20 Jun 2026 Scenarios · 12-month scenario targets Bear CaseDownside scenario $1.50 The trust fails to lease or sell its vacant greenhouse properties, resulting in continued cash drain. A default or lease renegotiation by one of its two primary tenants severely impacts revenue. The proxy battle with preferred shareholders escalates into costly litigation, further depleting cash reserves and raising substantial doubt about the entity's ability to continue as a going concern. Base CaseCentral scenario $5.00 The trust continues to struggle with high revenue concentration, relying on Norfolk Southern and Regulus Solar for approximately 96% of its income. Efforts to lease or sell remaining greenhouse assets proceed slowly, keeping carrying costs elevated. Preferred shareholders successfully elect two trustees, leading to increased board friction and potential strategic shifts, while common equity remains diluted and uncompensated due to the massive backlog of unpaid preferred dividends ($2.285 million as of May 2026). Bull CaseUpside scenario $15.00 Power REIT successfully integrates its newly acquired $28.5 million Parma cannabis cultivation facility, generating stable, high-yield rental income from Ayr Wellness. The trust resolves its greenhouse portfolio defaults through favorable asset sales or re-leasing, significantly reducing carrying costs. Activist preferred shareholders successfully collaborate with the board to recapitalize the balance sheet, clear the preferred dividend backlog, and restore investor confidence, driving a strong re-rating of the common stock. Scenarios reflect our research view at the research date. Key Investment Merits
Key Investment Risks
Thesis Invalidation Triggers
All scenarios are estimates and subject to change. Past performance is not indicative of future results. Quality Pillars MembersThis section is available to registered members. Create a free account or sign in to unlock the full breakdown. Explore this dossierValuationIntrinsic value, the six-method breakdown, peer medians, and your assumptions sandbox.Financial SnapshotRevenue, profitability, returns, balance sheet, dividends, and the filing-level detail.Qualitative AnalysisBusiness overview, strategic initiatives, and mergers, acquisitions & partnerships.Outlook & Key DatesForward estimates, reporting calendar, and the monitoring framework. |