Power REIT (PW) has released an update to notify the public and investors about its asset transaction finalization.
Don't Miss Our Christmas Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Power REIT’s subsidiary sold its interest in a ground lease for solar farms in Salisbury, Massachusetts, for $1.2 million to an independent party following an arm’s length negotiation. This sale aligns with the company’s strategic shift in 2019 towards Controlled Environment Agriculture and greenhouses, amidst the backdrop of a changing wholesale cannabis market that has affected the cash flow generation of their cannabis-related properties. The company is considering further options to enhance shareholder value, which may include more asset sales.
For further insights into PW financials, check out TipRanks’ Financials page.
For a comprehensive understanding of the announcement, you can read the full document here.
