Power REIT (NYSE:PW) Shares Up 2% – Here’s What Happened

Power REIT (NYSE:PW)’s stock price shot up 2% during mid-day trading on Thursday . The company traded as high as $9.77 and last traded at $9.5410. Approximately 7,931 shares were traded during mid-day trading, a decline of 7% from the average session volume of 8,514 shares. The stock had previously closed at $9.35.

Power REIT Trading Up 2.0%

The firm’s 50-day simple moving average is $7.83 and its 200 day simple moving average is $8.61. The company has a debt-to-equity ratio of 15.62, a current ratio of 0.25 and a quick ratio of 0.25. The firm has a market capitalization of $3.50 million, a price-to-earnings ratio of -1.35 and a beta of 1.36.

Hedge Funds Weigh In On Power REIT

A hedge fund recently bought a new position in Power REIT stock. Pensionfund Sabic acquired a new position in shares of Power REIT (NYSE:PW) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 29,948 shares of the company’s stock, valued at approximately $26,000. Pensionfund Sabic owned about 0.88% of Power REIT as of its most recent SEC filing. 14.65% of the stock is currently owned by institutional investors and hedge funds.

About Power REIT

Power REIT is a real estate investment trust focused on acquiring and managing rural properties that support sustainable energy and agricultural uses. The company’s primary business activities involve purchasing farmland and timberland and granting long-term easements to renewable energy developers and utilities for solar and wind projects. By combining traditional land ownership with energy-transition partnerships, Power REIT seeks to generate stable, lease-based cash flows while preserving the underlying real estate’s value.

The firm’s portfolio includes solar and wind easements on timberland in states such as Virginia, Alabama and Georgia, as well as farmland in the Midwest leased to agricultural operators.