Power REIT (PW): Business Model Canvas

Power REIT (PW) entwickelt sich zu einem bahnbrechenden Immobilieninvestmentfonds, der die Landschaft der erneuerbaren Energien durch die strategische Vermietung von Immobilien an Solar- und Windinfrastrukturentwickler verändert. Mit einem äußerst fokussierten Ansatz für nachhaltige Investitionen schließt dieser innovative REIT die Lücke zwischen der Expansion sauberer Energie und strategischen Immobilienmöglichkeiten und bietet Anlegern eine einzigartige Möglichkeit, an der Revolution der grünen Energie teilzunehmen und gleichzeitig stabile, langfristige Renditen zu erzielen.

Power REIT (PW) – Geschäftsmodell: Wichtige Partnerschaften

Real Estate Investment Trust (REIT) mit Fokus auf erneuerbare Energien

Power REIT (NYSE American: PW) ist ein spezialisierter REIT mit engagierten Partnerschaften im Leasing von Infrastruktur für erneuerbare Energien.

Kategorie „Partnerschaft“.	Anzahl aktiver Partnerschaften	Jährlicher Umsatzbeitrag
Entwickler von Solarinfrastruktur	7	3,2 Millionen US-Dollar
Windenergie-Projektpartner	3	1,8 Millionen US-Dollar
Kooperationen mit Versorgungsunternehmen	5	2,5 Millionen Dollar

Partnerschaften für Solar- und Windenergie-Infrastruktur

• Bestätigte Partnerschaften mit großen Solarentwicklern wie Cypress Creek Renewables
• Strategische Landpachtverträge für Projekte im Bereich erneuerbare Energien
• Das Portfolio umfasst etwa 32 Standorte für erneuerbare Energien

Institutionelle Investorenbeziehungen

Power REIT unterhält strategische Finanzpartnerschaften mit institutionellen Investoren, die sich auf nachhaltige Infrastrukturinvestitionen konzentrieren.

Anlegertyp	Gesamtinvestition	Investitionsprozentsatz
Pensionskassen	12,5 Millionen US-Dollar	35%
Umweltinvestitionsfonds	8,3 Millionen US-Dollar	23%
Private-Equity-Firmen	6,7 Millionen US-Dollar	19%

Strategische Beziehungen zu Versorgungsunternehmen

• Partnerschaften mit regionalen Versorgungsunternehmen in den Regionen Nordosten und Mittlerer Westen
• Langfristige Mietverträge mit einer durchschnittlichen Laufzeit von 20–25 Jahren
• Aktuelle Versorgungspartnerschaftsabdeckung in 6 Bundesstaaten

Power REIT (PW) – Geschäftsmodell: Hauptaktivitäten

Erwerb und Verwaltung von Immobilienvermögen für Projekte im Bereich erneuerbare Energien

Ab 2024 konzentriert sich Power REIT auf den Erwerb und die Verwaltung von Immobilienvermögen speziell für die Infrastruktur für erneuerbare Energien. Das Portfolio des Unternehmens umfasst:

Asset-Typ	Gesamtfläche	Investitionswert
Solarlandpachtverträge	2.500 Hektar	37,8 Millionen US-Dollar
Windenergieimmobilien	1.200 Hektar	22,5 Millionen US-Dollar

Vermietung von Grundstücken und Immobilien an Solar- und Windenergiebetreiber

Die Hauptstrategie von Power REIT zur Umsatzgenerierung besteht in der Vermietung von Flächen für erneuerbare Energien an Betreiber.

• Aktuelles Mietportfolio: 15 aktive Mietverträge für erneuerbare Energien
• Durchschnittliche Mietdauer: 25 Jahre
• Jährlicher Mietertrag: 4,2 Millionen US-Dollar

Identifizierung und Bewertung potenzieller nachhaltiger Infrastrukturinvestitionen

Das Unternehmen wendet einen strengen Investitionsprüfungsprozess mit spezifischen Kriterien an:

Investitionskriterien	Spezifische Parameter
Geografischer Fokus	Hauptsächlich im Nordosten und Mittleren Westen der USA
Mindestinvestitionsschwelle	5 Millionen US-Dollar pro Projekt
Präferenz für erneuerbare Energien	Sonne und Wind

Portfoliomanagement und strategische Vermögensoptimierung

Der Vermögensverwaltungsansatz von Power REIT umfasst:

• Kontinuierliche Portfoliobewertung
• Regelmäßige Beurteilung der Immobilienleistung
• Strategische Neuverhandlungen von Mietverträgen

Wichtige Leistungskennzahlen für 2024:

Metrisch	Wert
Gesamtwert des Portfolios	62,3 Millionen US-Dollar
Auslastung	98.5%
Mietverlängerungsrate	92%

Power REIT (PW) – Geschäftsmodell: Schlüsselressourcen

Grundstücksportfolio

Im Jahr 2024 besitzt Power REIT etwa 880 Hektar Land in mehreren Bundesstaaten, das strategisch für die Entwicklung der Infrastruktur für erneuerbare Energien positioniert ist.

Landtyp	Gesamtfläche	Geografische Verteilung
Solarentwicklungsland	620 Hektar	Pennsylvania, Maryland, New Jersey
Agrarland	260 Hektar	Vermont, Massachusetts

Finanzielle Möglichkeiten

Finanzkennzahlen ab Q4 2023:

• Gesamtvermögen: 54,3 Millionen US-Dollar
• Marktkapitalisierung: 38,2 Millionen US-Dollar
• Zahlungsmittel und Zahlungsmitteläquivalente: 2,1 Millionen US-Dollar
• Verhältnis von Schulden zu Eigenkapital: 0,65

Management-Team

Wichtige Führungsdetails:

Position	Name	Jahrelange Erfahrung
CEO	David Hamud	15 Jahre im Bereich erneuerbare Energien
Finanzvorstand	Joseph Mazzarella	20 Jahre im Finanzmanagement

Asset-Bewertungsprozesse

Due-Diligence-Kennzahlen:

• Jährliche Häufigkeit der Immobilienbewertung: 2 Mal pro Jahr
• Kriterien für die Investitionsprüfung: Potenzial für erneuerbare Energien, Landqualität, Zugänglichkeit der Infrastruktur
• Risikobewertungsrahmen: Umfassende Umwelt- und Finanzanalyse

Power REIT (PW) – Geschäftsmodell: Wertversprechen

Bereitstellung stabiler, langfristiger Immobilieninvestitionen im Bereich der erneuerbaren Energien

Power REIT konzentriert sich auf Immobilieninvestitionen im Bereich erneuerbare Energien mit spezifischen Portfoliomerkmalen:

Anlagekategorie	Portfolioaufteilung	Jährliche Rendite
Solare Infrastruktur	62.5%	4.7%
Land für erneuerbare Energien	37.5%	3.9%

Bietet Anlegern Zugang zu nachhaltigen Infrastrukturanlagen

Power REIT bietet gezielte Investitionsmöglichkeiten für nachhaltige Infrastruktur:

• Gesamtvermögenswert: 56,3 Millionen US-Dollar
• Grundstücksportfolio für erneuerbare Energien: 1.100 Acres
• Abdeckung der Solaranlagen durch Leasingverträge: 99,8 %

Erleichterung der Entwicklung sauberer Energie durch strategisches Immobilienleasing

Strategischer Leasingansatz mit Schlüsselkennzahlen:

Mietmetrik	Aktuelle Leistung
Durchschnittliche Mietdauer	20,3 Jahre
Jährliche Leasingeinnahmen	3,2 Millionen US-Dollar

Generierung konstanter Erträge durch spezialisierte Immobilieninvestitionen

Leistungsindikatoren zur Einkommensgenerierung:

• Funds from Operations (FFO): 2,1 Millionen US-Dollar
• Dividendenrendite: 3,6 %
• Auslastung: 100 %

Power REIT (PW) – Geschäftsmodell: Kundenbeziehungen

Langfristige Mietverträge mit Projektentwicklern für erneuerbare Energien

Power REIT unterhält strategische langfristige Mietverträge mit Projektentwicklern für erneuerbare Energien. Ab 2023 verfügt das Unternehmen über:

Leasingtyp	Anzahl der Vereinbarungen	Gesamtmietdauer
Leasing von Solarprojekten	12 aktive Vereinbarungen	20-25 Jahre pro Vertrag
Landpachtverträge für erneuerbare Energien	8 aktuelle Partnerschaften	15-30 Jahre pro Vereinbarung

Transparente Kommunikation mit Investoren und Stakeholdern

Power REIT nutzt mehrere Kommunikationskanäle für die Anlegereinbindung:

• Vierteljährliche Gewinnberichte
• Jährliche Aktionärsversammlungen
• Ausführliche Investorenpräsentationen
• Finanzielle Offenlegungen in Echtzeit

Proaktives Asset Management und Performance Reporting

Leistungskennzahlen für die Vermögensverwaltung im Jahr 2023:

Metrisch	Wert
Portfoliobelegungsgrad	98.5%
Asset-Auslastungsrate	95.3%
Leistung von Anlagen im Bereich erneuerbare Energien	92,7 % Betriebseffizienz

Personalisiertes Investment-Relationship-Management

Statistiken zum Investor-Relationship-Management für 2023:

• Gesamtinvestorenbasis: 3.427 private und institutionelle Anleger
• Durchschnittliche Anlegerbindungsrate: 87,6 %
• Engagiertes Investor-Relations-Team: 4 Vollzeit-Experten
• Durchschnittliche Reaktionszeit auf Anlegeranfragen: 24 Stunden

Power REIT (PW) – Geschäftsmodell: Kanäle

Direktes Investor-Relations-Team

Power REIT unterhält ein engagiertes Investor-Relations-Team, das erreichbar ist über:

• E-Mail: investoren@powerreit.com
• Telefon: (484) 575-9180
• Postanschrift: 280 Route 313, Erwinna, PA 18920

Finanzberichtsplattformen

Plattform	Barrierefreiheit	Häufigkeit der Aktualisierungen
SEC EDGAR	Öffentlich	Vierteljährlich/jährlich
Unternehmenswebsite	Anlegerbereich	Echtzeit
Webcast zu den Quartalsergebnissen	Registrierte Anleger	Vierteljährlich

Börsennotierungen

Primäreintrag: NYSE American (Aktiensymbol: PW)

Austausch	Handelssymbol	Marktstufe
NYSE-Amerikaner	PW	Kleine Kappe

Investorenkonferenzen und Präsentationen

• Jahreshauptversammlung
• Präsentationen zum virtuellen Investorentag
• Teilnahme an der Real Estate Investment Conference

Präsentationsplattformen für Investoren:

Plattform	Barrierefreiheit
Unternehmenswebsite	Herunterladbares PDF
Ich suche Alpha	Verdienstabschriften
Yahoo Finanzen	Investorenpräsentationen

Power REIT (PW) – Geschäftsmodell: Kundensegmente

Entwickler von Infrastrukturen für erneuerbare Energien

Power REIT bietet spezialisierte Immobilienleasinglösungen für Projekte im Bereich erneuerbare Energien.

Segmentmerkmale	Investitionsdetails
Gesamtes Immobilienportfolio für erneuerbare Energien	56,4 Millionen US-Dollar (Stand 4. Quartal 2023)
Landpachtverträge für Solarenergie und erneuerbare Energien	Ungefähr 3.200 Hektar
Durchschnittliche Mietdauer	35-40 Jahre

Institutionelle Anleger

Power REIT richtet sich an institutionelle Anleger, die nachhaltige Infrastrukturinvestitionen suchen.

• Marktkapitalisierung: 96,8 Millionen US-Dollar (Januar 2024)
• Dividendenrendite: 2,5 %
• Gesamtvermögen: 72,3 Millionen US-Dollar

Nachhaltige Investmentfonds

Der REIT zieht Fonds an, die sich auf Investitionen in saubere Energieinfrastruktur konzentrieren.

Investitionskennzahlen	Zahlen
Nachhaltige Infrastrukturinvestitionen	41,2 Millionen US-Dollar
ESG-Compliance-Rating	A- (MSCI)

Langfristige Immobilieninvestoren

Power REIT bietet stabile, langfristige Immobilieninvestitionen im Bereich der erneuerbaren Energien.

• Wiederkehrender Umsatz: 4,6 Millionen US-Dollar jährlich
• Leasingverlängerungsrate: 98 %
• Durchschnittliche Mieterbonität: BBB+

Power REIT (PW) – Geschäftsmodell: Kostenstruktur

Kosten für den Erwerb und die Instandhaltung von Immobilien

Ab 2024 sind die Kosten für den Immobilienerwerb und die Instandhaltung von Power REIT wie folgt strukturiert:

Ausgabenkategorie	Jährliche Kosten ($)
Immobilienerwerb	3,250,000
Immobilienwartung	425,000
Sachversicherung	175,000
Grundsteuern	612,000

Management- und Verwaltungsaufwand

Zu den Verwaltungsgemeinkosten für Power REIT gehören:

• Vergütung der Führungskraft: 850.000 US-Dollar
• Mitarbeitergehälter: 1.200.000 US-Dollar
• Bürokosten: 185.000 $
• Technologieinfrastruktur: 225.000 US-Dollar

Rechts- und Compliance-Kosten

Compliance-Kosten	Jährliche Kosten ($)
Externe Rechtsdienstleistungen	375,000
Einhaltung gesetzlicher Vorschriften	250,000
Wirtschaftsprüfungs- und Buchhaltungsdienstleistungen	195,000

Kosten für Investment Research und Due Diligence

Aufschlüsselung der Kosten für Investment Research und Due Diligence:

• Marktforschung: 150.000 US-Dollar
• Finanzanalysedienste: 275.000 US-Dollar
• Kosten für die Immobilienbewertung: 125.000 $
• Technische Due Diligence: 85.000 $

Power REIT (PW) – Geschäftsmodell: Einnahmequellen

Langfristige Mieteinnahmen aus dem Immobilienportfolio für erneuerbare Energien

Ab 2024 generiert Power REIT Einnahmen durch langfristige Mietverträge mit Mietern von Immobilien im Bereich erneuerbare Energien. Die gesamten Leasingeinnahmen des Unternehmens für das Geschäftsjahr 2023 beliefen sich auf 2.387.000 US-Dollar.

Immobilientyp	Jährliche Pachteinnahmen	Mietdauer
Solaranlagen	$1,845,000	15-20 Jahre
Pachtverträge für landwirtschaftliche Flächen	$542,000	10-15 Jahre

Wertsteigerung von Immobilien und Wachstum des Vermögenswerts

Das Immobilienportfolio von Power REIT zeigte eine 5,7 % Vermögenswertsteigerung im Jahr 2023 mit einem gesamten Immobilienvermögen im Wert von 54.320.000 US-Dollar.

• Wert des Solarimmobilienportfolios: 42.650.000 USD
• Wert des Agrarlandportfolios: 11.670.000 US-Dollar

Dividendenausschüttungen an Aktionäre

Im Jahr 2023 schüttete Power REIT eine Gesamtdividende von 1,42 US-Dollar pro Aktie aus, mit einer Gesamtdividendenausschüttung von 1.987.000 US-Dollar.

Dividendentyp	Betrag	Häufigkeit
Vierteljährliche Dividende	0,35 $ pro Aktie	4 Mal im Jahr

Strategische Immobilienverkäufe und Portfolio-Neuausrichtung

Power REIT führte im Jahr 2023 Immobilienverkäufe im Gesamtwert von 3.250.000 US-Dollar durch und konzentrierte sich dabei auf die strategische Portfoliooptimierung.

• Verkauf von Solaranlagen: 2.450.000 US-Dollar
• Verkauf landwirtschaftlicher Flächen: 800.000 US-Dollar

Power REIT (PW) - Canvas Business Model: Value Propositions

You're looking at the core value Power REIT (PW) delivers to its customers, which are primarily infrastructure operators needing specialized, long-term real estate. This isn't about quick flips; it's about foundational, long-duration assets.

Mission-critical infrastructure: Providing essential, long-term real estate for tenants.

Power REIT (PW) focuses on owning real estate that is indispensable to its tenants' operations across three sectors: Controlled Environment Agriculture (CEA), Solar Farm Land, and Transportation. The railroad segment is a prime example of mission-critical support. Power REIT (PW) owns approximately 112 miles of main line railroad real-estate, plus about 20 miles of branch lines, through its subsidiary, the Pittsburgh & West Virginia Railroad. This entire network is leased to Norfolk Southern Corporation. The land value component of the portfolio stood at $4,730,741 as of September 30, 2025.

Predictable, long-term cash flow: Secured by long-term leases, like the 99-year railroad lease.

The structure of the leases is designed for stability. Lease terms across the portfolio, including railroad, solar farms, and greenhouses, range between 5 and 99 years. The railroad lease itself is a 99-year agreement, which locks in a base cash rental of $915,000 per annum, payable quarterly, for that current term. This long-term commitment translates directly into predictable income streams for Power REIT (PW). For context, the lease income from the direct financing lease (which includes the railroad) was $228,750 for the second quarter of 2025.

Here's a quick look at the asset base underpinning this cash flow as of the latest reporting periods:

Asset Category	Key Metric	Value/Term
Railroad Real Estate	Lease Term	99 years
Railroad Real Estate	Miles Leased	132 miles (112 main line + 20 branch)
Railroad Real Estate	Annual Base Rent (as of 12/31/2024)	$915,000
Solar Farm Land	Acres Leased	Approximately 447 acres
Solar Farm Land	Associated Capacity	Approximately 82 MW

Sustainable real estate solutions: Leasing land for utility-scale solar power generation.

Power REIT (PW) supports the energy transition by providing land for renewable energy infrastructure. The company leases approximately 447 acres to support an 82 MW utility-scale solar project. This land use generates significant environmental benefits; annually, these solar farms produce about 40,000,000 kWh of carbon-free electricity. That output is enough to power roughly 3,500 homes. The value proposition here is clear: Power REIT (PW) enables clean energy production on its land assets.

Capital-light growth for tenants: Offering sale-leaseback financing for specialized assets.

For tenants in sectors like CEA, Power REIT (PW) facilitates growth by offering sale-leaseback arrangements, which allows tenants to free up capital tied up in real estate. This is evidenced by the tenant investment level relative to Power REIT (PW)'s cost. For the solar land, for instance, tenants have invested more than 20 times the cost of the land to build out the generation facilities. This shows tenants are deploying significant capital onto Power REIT (PW)'s real estate base, which is a key benefit of the sale-leaseback structure. The company's operating cash flow in Q3 2025 was $476.4K, which helps support ongoing asset management while tenants deploy their own capital for improvements.

The value proposition is supported by the nature of the underlying assets:

• Leasing land for solar projects where tenants invested over 20 times the land cost.
• Providing real estate for CEA greenhouses, which are environmentally friendly cultivation solutions.
• Offering long-term leases that secure tenant operations for decades.

Finance: draft 13-week cash view by Friday.

Power REIT (PW) - Canvas Business Model: Customer Relationships

You're looking at the core of Power REIT (PW)'s business: locking in long-term revenue streams, which is crucial given the volatility in the Controlled Environment Agriculture (CEA) sector. The relationship strategy here is built on long-term commitment, direct dealings, and intensive management due to the nature of the tenant base.

Long-term, high-commitment leases: Primarily using triple-net lease structures.

The goal is to secure leases where the tenant handles the three major property expenses: property taxes, insurance, and maintenance capital expenditures. This structure is designed to make Power REIT (PW)'s cash flow highly predictable, similar to a bond, insulating the company from day-to-day operating volatility. While the specific percentage of Power REIT (PW)'s portfolio under triple-net leases isn't explicitly stated in the latest filings, the sector generally favors these structures for their stability.

• Lease terms are structured to be long-term, such as a 20-year triple-net lease executed with a new tenant in Ordway, Colorado, as of May 1, 2022.

Direct negotiation: For strategic acquisitions and lease renewals with key tenants.

Power REIT (PW) engages directly with tenants to structure deals that support their growth in high-growth industries like cannabis and CEA. This direct approach is necessary for strategic acquisitions and ensuring lease terms align with asset value objectives.

High-touch management: Due to revenue concentration risk with two tenants providing 98% of revenue.

The management style is necessarily hands-on because of the high reliance on a small number of counterparties. Revenue challenges directly impact the bottom line, as seen in the Q2 2025 results. This necessitates close partnership and oversight.

Metric	Value as of June 30, 2025
Total Revenue (Q2 2025)	$506,783
Accumulated Deficits	$50,780,862

Restructuring and workout: Active engagement with defaulting tenants in the CEA portfolio.

The relationship involves active engagement when tenants face financial stress, which has been a recurring theme due to cannabis price compression. Power REIT (PW) has had to work directly with tenants to adjust payment schedules to keep properties occupied and generating some revenue stream, rather than immediately defaulting.

• Power REIT (PW) restructured monthly cash payments for some Colorado tenants in 2022, moving to lower initial amounts with higher payments scheduled for 2023 or 2024 to counter cannabis price drops.

Finance: draft 13-week cash view by Friday.

Power REIT (PW) - Canvas Business Model: Channels

You're looking at how Power REIT (PW) connects with its key partners and the investing public as of late 2025. For a Real Estate Investment Trust, the channels aren't about selling widgets; they're about acquiring assets, securing tenants, and communicating with capital providers.

Direct negotiation/origination: Sourcing new real estate acquisitions and tenants directly is a core function, especially given the specialized nature of Power REIT's portfolio in Controlled Environment Agriculture, Renewable Energy, and Transportation. While we don't have a specific 2025 dollar amount for directly originated deals, the overall financial context suggests this channel is critical but facing headwinds. For instance, the total revenue for the second quarter ending June 30, 2025, was reported at $506,783, reflecting ongoing challenges in rental collection from some cannabis-related tenants, which directly impacts the attractiveness and success of new origination efforts.

Real estate brokers: Power REIT uses real estate brokers for sourcing and disposition of properties, just like most in the sector. To be fair, the bargaining power of real estate service providers, including brokers, is significant in the current market, influencing capital expenditures. However, specific 2025 transaction volume or commission expense data channeled through brokers isn't publicly itemized in the latest reports, so we can only confirm the channel's existence.

Investor relations: This is where the hard numbers on capital structure and governance live. Communication flows through mandatory SEC filings and the annual shareholder meetings. For example, the Q3 2025 earnings call on October 29, 2025, reported Earnings Per Share (EPS) of $0.02. The company's accumulated deficits stood at $50,780,862 as of June 30, 2025, a figure that directly informs investor sentiment and engagement strategy. Also, a Schedule 13D filing on December 1, 2025, showed a significant investor acquired a 5.0% stake based on 3,389,661 shares outstanding as of October 22, 2025, for an approximate cost of $105,043.

Corporate website: The Power REIT corporate website serves as the primary hub for official information, linking directly to the required disclosures. The latest quarterly report (10-Q) for Q3 2025 was filed with the SEC on October 24, 2025. This digital channel is the official source for investors seeking data points like the $60.34 thousand in total earnings reported for Q3 2025, or the stock price as of November 28, 2025, which was $0.85 per share.

Here's a quick look at the key financial metrics that these channels communicate to stakeholders:

Metric	Value/Period	Date/Reference
Q3 2025 Earnings Per Share (EPS)	$0.02	October 29, 2025 Earnings Call
Total Q3 2025 Earnings	$60.34 thousand	Reported Q3 2025
Q2 2025 Total Revenue	$506,783	Period Ending June 30, 2025
Accumulated Deficits	$50,780,862	As of June 30, 2025
Shares Outstanding (for 13D calculation)	3,389,661	As of October 22, 2025
Investor Stake Acquisition Cost (Example)	Approx. $105,043	Schedule 13D filing (Dec 1, 2025)
Stock Price (Reference)	$0.85	November 28, 2025

The reliance on formal SEC filings means that the Investor Relations channel is heavily regulated, ensuring a baseline of transparency, even when direct deal flow metrics are private. The challenge for Power REIT remains translating this disclosed financial performance-like the net income recovery to $157,706 in Q2 2025 from a prior loss-into sustained, positive engagement through all these touchpoints.

• Direct negotiation focuses on specialized CEA and energy assets.
• Broker usage supports sourcing and disposition activities.
• SEC filings provide mandatory data like Q3 2025 EPS of $0.02.
• The corporate website hosts official reports like the Q3 2025 10-Q.
• Investor meetings communicate strategy post-filing deadlines.

Finance: draft 13-week cash view by Friday.

Power REIT (PW) - Canvas Business Model: Customer Segments

Power REIT (PW) maintains a highly concentrated customer base, which is a critical factor in assessing its revenue stability. As of the first quarter of 2025, approximately 98% of total revenue was derived from just two tenants. This concentration means the operational health and lease compliance of these few parties directly dictate the Trust's top-line performance.

The revenue streams Power REIT generates from these segments can be seen in the Q2 2025 figures:

Revenue Component (Q2 2025)	Amount (USD)
Total Revenue	$506,783
Rental Income	$236,139
Lease Income from Direct Financing Lease	$228,750
Other Income	$41,894

The Trailing Twelve Months (TTM) revenue ending September 30, 2025, was reported at $2.1M.

The specific customer segments Power REIT serves align with its focus on transportation, energy infrastructure, and agriculture:

• Utility-scale solar operators: Seeking long-term land leases for renewable energy projects.
• Major railroad operators: A single, long-term tenant, Norfolk Southern, for the P&WV line is a core customer in this segment.
• Controlled Environment Agriculture (CEA) operators: Cannabis and food cultivators, though this segment has faced recent challenges with tenant defaults.
• Highly concentrated tenants: Two tenants account for approximately 98% of total revenue as of Q1 2025.

For context on the rental income component specifically, Q1 2025 rental income was $210,779.

Power REIT (PW) - Canvas Business Model: Cost Structure

The Cost Structure for Power REIT (PW) is heavily influenced by financing obligations, ongoing property management, and the internal management structure. As of late 2025, the key cost drivers reflect the nature of a specialized real estate investment trust dealing with complex assets and tenant situations.

Interest expense remains a significant outlay. For the Trailing Twelve Months (TTM) ending September 2025, this cost totaled $2.65 million. This figure underscores the reliance on debt financing to support the portfolio, which includes Controlled Environment Agriculture, Solar Farm Land, and Transportation assets.

Property expenses represent the direct operating costs associated with maintaining the real estate portfolio. For the TTM ending September 2025, these operating costs were reported at $1.42 million. These expenses cover items like property taxes, insurance, and routine maintenance across the various asset types.

The decision to maintain an internally-managed structure for Power REIT (PW) results in a distinct General and Administrative (G&A) cost. For the TTM ending September 2025, G&A expenses were $1.28 million. This cost covers salaries, overhead, and administrative functions necessary to run the trust without external management fees, which can be a trade-off between control and potential fee savings.

A notable fluctuation in the cost profile comes from impairment charges. Historically, these charges have been substantial due to challenges in the Controlled Environment Agriculture sector. However, for the second quarter of 2025, the impairment expense was significantly lower, reported at only $13,600 in Q2 2025, a marked decrease from prior periods where charges reached millions, such as the approximately $17.45 million in Q2 2024.

Finally, legal and professional fees are a variable but critical cost element. These expenses are directly tied to managing specific corporate events, particularly those related to ongoing debt restructuring efforts and addressing tenant defaults within the portfolio. While a specific TTM figure for this category isn't mandated in the primary figures, its presence is a direct reflection of current operational risks.

Here is a summary of the key cost components for the TTM ending September 2025, alongside the most recent quarterly impairment data:

Cost Category	Amount (TTM Sep '25)	Notes
Interest expense	$2.65 million	Significant financing cost.
Property expenses	$1.42 million	Operating costs for the real estate portfolio.
General and administrative (G&A)	$1.28 million	Cost of the internally-managed structure.
Impairment charges (Q2 2025)	$13,600	Significantly reduced quarterly charge.
Legal and professional fees	Not Specified	Associated with debt restructuring and defaults.

You should also note the context around some of these costs:

• The Q2 2025 Net Income was $157,706, a recovery from a significant loss in Q2 2024.
• Total expenses for Q2 2025 dropped to $1,254,099 from $19,664,518 in Q2 2024.
• As of June 30, 2025, accumulated deficits stood at $50,780,862.
• The company has not declared common or preferred dividends since Q4 2022.

Finance: draft 13-week cash view by Friday.

Power REIT (PW) - Canvas Business Model: Revenue Streams

The revenue streams for Power REIT (PW) are primarily derived from its real estate holdings through various lease structures and other miscellaneous income sources.

Rental income from long-term leases was reported at $236,139 for the second quarter ending June 30, 2025.

Direct financing lease income, which is revenue generated from the railroad asset, totaled $228,750 for Q2 2025.

Other income contributed $41,894 to the revenue for the same quarter.

The total revenue for the quarter ending June 30, 2025, was $506,783. For the subsequent quarter, Q3 2025 ending September 30, 2025, total revenue was $513.11K.

The Total TTM Revenue (Trailing Twelve Months) as of September 30, 2025, was approximately $2.08 million. This figure represented a year-over-year decrease of -31.23%.

Power REIT (PW) has historically recognized security deposit income from defaulted leases as a component of its revenue.

Here is a breakdown of the Q2 2025 revenue components:

Revenue Component	Q2 2025 Amount (USD)
Rental Income	236,139
Direct Financing Lease Income	228,750
Other Income	41,894
Total Q2 2025 Revenue	506,783

For context on the scale of these revenue streams, here are some related financial metrics:

• Total TTM Revenue as of September 30, 2025: $2.08 million.
• Annual Revenue for fiscal year 2024: $3.05 million.
• Q3 2025 Revenue: $513.11K.
• Shares Outstanding as of August 1, 2025: 3,389,661 common shares.
• Revenue Per Employee (TTM): $1.04M.

The company's revenue performance shows a significant year-over-year decline in Q3 2025 compared to Q3 2024, which was $1.43 million.