Power REIT filings document the Trust’s REIT operations, property portfolio, securities and governance as a public real estate issuer. Annual and quarterly reports address real estate assets tied to Controlled Environment Agriculture, renewable energy and transportation, along with lease economics, operating results, liquidity, risk factors and audit matters.
Proxy statements and related 8-K reports record annual meeting matters, trustee elections, auditor ratification and shareholder voting results. The filing record also covers capital-structure disclosures for Power REIT’s common shares and 7.75% Series A cumulative redeemable perpetual preferred stock, as well as public-company events such as listing-compliance and going-concern disclosures.
Power REIT reported modestly improved results for the three and six months ended June 30, 2026 while continuing to reposition its cannabis greenhouse portfolio and reduce leverage. Total assets were $26.2 million, including a $9.2 million railroad direct-financing lease, $9.2 million of solar land and $5.5 million of greenhouse assets classified as held for sale. Cash and cash equivalents increased to $3.1 million from $2.2 million at year-end.
For the quarter, total income rose to $1.29 million from $0.51 million, driven by a sharp increase in other income tied primarily to repayment of a seller-financed mortgage loan. Quarterly net income was $435,548, with $272,341 attributable to common shareholders ($0.74 per share). For the six-month period, net loss attributable to common shareholders narrowed to $784,138 from $1.42 million, aided by a $1.1 million reduction in interest expense after resolution of the greenhouse loan.
Operations remain highly concentrated: for the six months, 96% of lease income came from two tenants, Norfolk Southern Railway and Regulus Solar LLC. The greenhouse portfolio continues to face weak cannabis market conditions, generating limited rent, driving $366,117 of impairment charges and property sales at losses. Property taxes of about $1.33 million on the greenhouse properties are delinquent, and the Series A preferred dividend (about $326,000 for the half year) remains undeclared and cumulative.
Power REIT has a significant holder of its Series A Cumulative Redeemable Perpetual Preferred Stock. Saquib Fasih Toor reports beneficial ownership of 29,330 preferred shares, representing approximately 8.71% of this class, which carries a $25.00 per share liquidation preference.
He has sole voting and dispositive power over 6,183 shares held in individual brokerage accounts and shared voting and dispositive power over 23,147 shares held by his spouse, Dalia Mahmoud. The Series A Preferred was generally non-voting, but because dividends have been suspended since December 2022 and not paid for six quarterly periods, holders gained the right to elect two additional trustees; those voting rights vested on June 15, 2024. The filing is made in connection with this change in voting rights.
Power REIT has appointed Brent Morrison as an independent trustee, effective July 6, 2026. He will serve on the Board of Trustees until the next annual shareholder meeting and until a successor is elected, or earlier resignation or removal under the trust’s governing documents.
Morrison is Chairman, Chief Executive Officer and President of Regional Health Properties, Inc., a publicly traded healthcare company, and brings experience in public company governance, capital markets, financial reporting, strategic planning and corporate finance. The Board determined he meets NYSE American independence requirements, will receive standard non-employee trustee compensation, and has no related-party arrangements or transactions requiring disclosure.
Power REIT’s Series A preferred stockholders led by Bradley & Daytona Railway & Land Co. LLC and Alexander Kachmar have filed Amendment No. 6 to their Schedule 13D. The reporting group may be deemed to beneficially own 39,281 Series A Preferred shares, or about 11.7% of the class, based on 336,944 shares outstanding as of March 31, 2026.
Bradley & Daytona and Alexander Kachmar directly beneficially own 25,970 shares, while D & C Cacciapaglia Living Trust and David Cacciapaglia Family Trust together beneficially own 13,311 shares, which David Cacciapaglia indirectly beneficially owns through these trusts. The group shares voting power over these shares for limited matters related to voting rights under Section 8 of the Articles Supplementary, while each holder retains sole dispositive power over its own shares.
The amendment updates Item 5 (interest in securities) and Item 7 (exhibits), adding detailed transaction information, a joint filing agreement, and a notification to Power REIT’s board about a failure to implement the preferred stockholders’ election of two trustees.
Power REIT investors led by Bradley & Daytona Railway and Land Co. LLC and Alexander Kachmar filed Amendment No. 5 to their Schedule 13D for the Series A preferred stock. They may be deemed to beneficially own 38,717 Series A preferred shares, about 11.5% of the class based on 336,944 shares outstanding as of March 31, 2026.
The group reports shared voting power over these shares on limited matters tied to the Series A Articles Supplementary, while each holder keeps sole dispositive power over its own holdings. Exhibits include detailed recent trading activity and a second notification asking the board to initiate a preferred stockholder election of two trustees.
Power REIT preferred shareholders have formed a coordinated voting group holding about 11.1% of the outstanding Series A Cumulative Redeemable Perpetual Preferred Stock. The group includes Bradley & Daytona Railway & Land Co. LLC, Alexander Kachmar and two Cacciapaglia family trusts.
Because the company has failed to pay dividends on this preferred series for six or more quarters, holders of at least 10% can require a special election to choose two trustees. The group is delivering notice to the Board to initiate this preferred stockholder election, nominating Alexander Kachmar and David Cacciapaglia as trustee candidates, while each party otherwise retains sole dispositive power over its own shares.
Power REIT is implementing a one-for-ten reverse stock split of its common shares. Every ten issued and outstanding common shares will convert into one share at 5:00 p.m. Eastern Time on June 2, 2026, the effective time of the split.
The shares are expected to begin trading on a split-adjusted basis on NYSE American under the symbol PW at the market open on June 3, 2026, with a new CUSIP number 73933H309. No fractional shares will be issued; instead, holders entitled to fractions will receive cash based on the closing price on June 2, 2026, adjusted for the split. The reverse split applies to all outstanding common shares and is designed to maintain relative ownership, voting, and other rights, aside from minor changes from cash payments for fractional shares.
Bradley & Daytona Railway & Land Co. LLC filed Amendment No. 3 to its Schedule 13D, reporting beneficial ownership of 23,772 shares of Power REIT’s Series A Preferred Stock, equal to 7.1% of that class. This percentage is based on 336,944 Series A shares outstanding as of March 31, 2026.
The reporting person holds sole voting and dispositive power over all 23,772 shares and does not share authority with any other party. Recent transactions in these preferred shares since the prior amendment are detailed in an exhibit referenced in the filing.
Power REIT reported another quarterly loss as it continues restructuring its portfolio and balance sheet. For the three months ended March 31, 2026, revenue was $480,436, essentially flat year over year, while net loss narrowed to $893,272 from $1,413,112. The trust recorded a $247,353 impairment on assets held for sale and a $493,890 loss on the Mav 14 property sale. Cash and cash equivalents were $2,036,085 against total debt of $20,329,499 and total liabilities of $21,749,327. An accumulated deficit of $52,777,017 and delinquent greenhouse property taxes of about $1,310,000 leave the remaining greenhouse portfolio exposed to potential tax foreclosure. The company is relying on asset sales, re-leasing efforts and limited at-the-market equity issuance to support liquidity while a previously identified material weakness in internal controls over financial reporting remains unremediated.
Power REIT investor Bradley & Daytona Railway & Land Co. LLC filed Amendment No. 2 to its Schedule 13D for the company’s Series A Cumulative Redeemable Perpetual Preferred Stock, which has a $25 per share liquidation preference. The filing states the investor beneficially owns 20,680 shares, representing 6.1% of this preferred class, with sole voting and dispositive power over all reported shares. This amendment is described as being filed solely to correct the filer entity name on the cover page, without changing the previously reported ownership position.