Power REIT swings to Q2 profit of $435,548; revenue rises to $1.29 million
PW•Q2 profit and revenue increase
Power REIT swung to GAAP net income of $435,548 in the quarter ended June 30, 2026, from a loss a year earlier.
Total income more than doubled to $1.29 million, driven by $838,722 of other income tied mainly to a mortgage-loan settlement.
Tenant concentration remains high
Tenant concentration remained high, with Norfolk Southern Railway and Regulus Solar providing about 95% of rental and direct financing lease income.
Recent corporate actions and asset sale
Recent moves included a 1-for-10 reverse stock split and the $315,000 sale of a vacant Vinita, Oklahoma greenhouse property for a roughly $110,000 loss.
Expenses decline on lower interest and property costs
Expenses fell 40.8% to $742,165 on lower interest expense and property costs, partly offset by higher impairment charges.
