Quarterly ResultMay 15, 2026, 01:11 PM
Power REIT Q1 Net Loss Narrows to $(0.89)M; EPS $(0.29)
AI Summary
Power REIT reported a narrower net loss of $(0.89) million for the first quarter of 2026, an improvement from $(1.41) million in the prior year, with basic loss per common share improving to $(0.29). However, total revenue saw a slight decrease to $480,436. The company recorded an impairment expense of $247,353 and a loss of $493,890 from property sales, including the Mav 14 property. Power REIT faces ongoing liquidity challenges, including delinquent property taxes of approximately $1.31 million on its Greenhouse Portfolio, which could lead to foreclosure, and diminished collections from its CEA portfolio due to market distress.
Key Highlights
- Net loss narrowed to $(0.89) million in Q1 2026 from $(1.41) million in Q1 2025.
- Basic loss per common share improved to $(0.29) in Q1 2026 from $(0.47) in Q1 2025.
- Total revenue decreased slightly to $480,436 in Q1 2026 from $485,794 in Q1 2025.
- Recorded an impairment expense of $247,353 and a loss on property sale of $493,890.
- Cash and cash equivalents decreased by $199,221 to $2,036,085 as of March 31, 2026.
- Did not declare a quarterly dividend of $163,000 for Series A Preferred Stock.
- Not current on $1.31 million in property taxes for Greenhouse Portfolio, risking foreclosure.
- 96% of Q1 2026 rental income derived from two properties: Norfolk Southern (51%) and Regulus Solar (45%).
Price Impact
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