Bradley & Daytona (PW) reports 20,680 Power REIT Series A preferred shares

Rhea-AI Filing Summary

Bradley & Daytona Railway and Land Co. LLC filed Amendment No. 1 to its Schedule 13D on Power REIT’s Series A preferred stock. The firm reports beneficial ownership of 20,680 shares, equal to 6.14% of the outstanding Series A preferred shares.

The ownership percentage is based on 336,944 Series A preferred shares outstanding as of December 31, 2025, as disclosed in Power REIT’s annual report. Bradley & Daytona reports sole voting and sole dispositive power over these shares. Exhibit 99.A lists the detailed transactions since the original February 25, 2026 filing.

Key Figures

Beneficial ownership: 20,680 shares Ownership percentage: 6.14% Shares outstanding: 336,944 shares +4 more

7 metrics

Beneficial ownership 20,680 shares Series A preferred shares beneficially owned by Bradley & Daytona

Ownership percentage 6.14% Portion of outstanding Series A preferred stock

Shares outstanding 336,944 shares Series A preferred shares outstanding as of December 31, 2025

Liquidation preference $25 per share Series A Cumulative Redeemable Perpetual Preferred Stock

Sole voting power 20,680 shares Shares with sole voting power reported by Bradley & Daytona

Sole dispositive power 20,680 shares Shares with sole dispositive power reported by Bradley & Daytona

Event date April 23, 2026 Date of event requiring Amendment No. 1

Key Terms

Series A Cumulative Redeemable Perpetual Preferred Stock, liquidation preference, beneficially own, sole voting and dispositive power, +2 more

6 terms

Series A Cumulative Redeemable Perpetual Preferred Stock financial

"Title of Class of Securities: Series A Cumulative Redeemable Perpetual Preferred Stock"

liquidation preference financial

"Series A Cumulative Redeemable Perpetual Preferred Stock Liquidation Preference $25 per Share"

A liquidation preference is a rule that determines who gets paid first and how much they receive when a company is sold, goes bankrupt, or distributes its assets. It gives certain investors a priority claim—often returning their original investment plus any agreed multiple—before other owners receive money, which shapes how much common shareholders and founders ultimately get; think of it as a front-of-the-line pass that affects payout order and investor returns.

beneficially own financial

"The Reporting Persons may be deemed to beneficially own 20,680 shares of the Issuer's Series A Preferred Stock"

Beneficially own means having the economic rights and risks of a security—such as the right to receive dividends, sell the shares, or profit from price changes—whether or not your name appears on the official share register. Think of it like renting a car: you use it and reap the benefits even if the title lists someone else. Investors care because beneficial ownership determines who truly controls value, must be disclosed under securities rules, and can signal potential influence or trading activity that affects a stock’s price.

sole voting and dispositive power financial

"The Reporting Persons has sole voting and dispositive power of 20,680 shares of Series A Preferred Stock"

Schedule 13D regulatory

"previously filed a statement on Schedule 13G to report the acquisition that is the subject of this"

A Schedule 13D is a legal document that investors file with regulators when they buy a large enough stake in a company to potentially influence its management or decisions. It provides details about the investor’s intention, ownership stake, and plans, helping other investors understand who is gaining control and what their motives might be.

Annual Report on Form 10-K regulatory

"as disclosed by the Issuer in its Annual Report on Form 10-K for the year ended December 31, 2025"

An annual report on Form 10‑K is a required, comprehensive filing that publicly traded companies give to regulators and investors summarizing their business, results of operations, detailed financial statements reviewed by independent auditors, material risks, legal issues and management’s discussion of performance. Investors use it like a company’s year‑end report card and medical checkup: it reveals how the business made money, where it is vulnerable, and the facts needed to compare value, judge risk and make informed investment decisions.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 1)

POWER REIT

(Name of Issuer)

Series A Cumulative Redeemable Perpetual Preferred Stock Liquidation Preference $25 per Share

(Title of Class of Securities)

73933H200

(CUSIP Number)

Alexander Kachmar
Bradley & Daytona Railway and Land Co. L, 5753 Highway, 85 N PMB 5974
Crestview, FL, 32536
973-979-1329

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

04/23/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

schemaVersion:

SCHEDULE 13D

CUSIP Number(s): 73933H200

1

Name of reporting person

Bradley & Daytona Railway and Land Co. LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

WYOMING

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 20,680.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 20,680.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

20,680.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

6.14 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

This Amendment No. 1 to Schedule 13D ("Amendment No. 1") amends and supplements the Schedule 13D originally filed with the U.S. Securities and Exchange Commission (the "SEC") on February 25, 2026 (as amended and supplemented, the "Schedule 13D"). Unless otherwise indicated, all capitalized terms used but not defined herein shall have the meanings ascribed to them in the Schedule 13D. This Amendment No. 1 is being filed to make amendments to the Schedule 13D as follows:

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Series A Cumulative Redeemable Perpetual Preferred Stock Liquidation Preference $25 per Share
(b)	Name of Issuer: POWER REIT
(c)	Address of Issuer's Principal Executive Offices: 301 Winding Road, Old Bethpage, NEW YORK , 11804.
Item 5.	Interest in Securities of the Issuer
(a)	The Reporting Persons may be deemed to beneficially own 20,680 shares of the Issuer's Series A Preferred Stock, representing 6.14% of the Issuer's outstanding Series A Preferred Stock, which is calculated based on 336,944 shares of Series A Preferred Stock outstanding as of December 31, 2025, as disclosed by the Issuer in its Annual Report on Form 10-K for the year ended December 31, 2025, filed with the SEC on March 31, 2026.
(b)	The Reporting Persons has sole voting and dispositive power of 20,680 shares of Series A Preferred Stock. The Reporting Person does not share any voting or dispositive power with respect to his ownership of the Series A Preferred Stock.
(c)	The transactions in the Series A Preferred Stock by the Reporting Person since the filing of the original Schedule 13D on February 25, 2026, are set forth in Exhibit 99.A and are incorporated herein by reference.
Item 7.	Material to be Filed as Exhibits.
	Exhibit 99.A - Transactions in the Issuer's Securities Since Schedule 13D Filing on February 25, 2026

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Bradley & Daytona Railway and Land Co. LLC

Signature:	/s/ Alexander Kachmar
Name/Title:	Managing Member of Bradley & Daytona Railway and Land Co. LLC
Date:	04/23/2026

FAQ

What ownership in Power REIT (PW) did Bradley & Daytona disclose?

Bradley & Daytona Railway and Land Co. LLC disclosed beneficial ownership of 20,680 shares of Power REIT’s Series A preferred stock. This stake represents 6.14% of the outstanding Series A preferred shares, based on the issuer’s disclosed share count as of December 31, 2025.

What percentage of Power REIT (PW) Series A preferred does 20,680 shares represent?

The filing states that 20,680 shares of Power REIT’s Series A preferred stock represent 6.14% of that class. This percentage is calculated using 336,944 Series A preferred shares outstanding as of December 31, 2025, as reported in Power REIT’s latest annual report.

Which Power REIT (PW) security is covered in this Schedule 13D/A amendment?

The amendment covers Power REIT’s Series A Cumulative Redeemable Perpetual Preferred Stock with a $25 per share liquidation preference. The disclosure focuses on beneficial ownership and control of this preferred class, not on common stock or other series of securities.

Does Bradley & Daytona have sole voting power over its Power REIT (PW) shares?

Yes. The amendment states Bradley & Daytona has sole voting power over 20,680 Series A preferred shares. It also reports sole dispositive power over the same number of shares, and no shared voting or shared dispositive power with any other party is indicated.

What share count did Power REIT (PW) report for its Series A preferred stock?

Power REIT reported 336,944 Series A preferred shares outstanding as of December 31, 2025, in its annual report. Bradley & Daytona used this figure to calculate its 6.14% ownership stake disclosed in the Schedule 13D/A Amendment No. 1 filing.

What additional information is in Exhibit 99.A of the Power REIT (PW) 13D/A?

Exhibit 99.A lists Bradley & Daytona’s transactions in Power REIT’s Series A preferred stock since the original Schedule 13D filing on February 25, 2026. These transaction details provide a trade-by-trade history underlying the updated beneficial ownership reported in Amendment No. 1.