Shares of Power REIT (NYSE:PW – Free Report) are going to reverse split on the morning of Wednesday, June 3rd. The 1-10 reverse split was announced on Tuesday, May 19th. The number of shares owned by shareholders will be adjusted after the market closes on Tuesday, June 2nd.
Power REIT Stock Down 2.4%
Power REIT stock opened at $0.51 on Friday. Power REIT has a fifty-two week low of $0.50 and a fifty-two week high of $1.96. The company has a debt-to-equity ratio of 15.62, a quick ratio of 0.25 and a current ratio of 0.25. The company has a market capitalization of $1.88 million, a P/E ratio of -0.07 and a beta of 1.36. The stock has a 50-day simple moving average of $0.76 and a 200-day simple moving average of $0.84.
Institutional Investors Weigh In On Power REIT
A hedge fund recently bought a new stake in Power REIT stock. Pensionfund Sabic acquired a new stake in Power REIT (NYSE:PW – Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 29,948 shares of the company’s stock, valued at approximately $26,000. Pensionfund Sabic owned 0.88% of Power REIT at the end of the most recent quarter. 14.65% of the stock is owned by institutional investors.
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.
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