Recent developments highlight Power REIT's share price movement below the 200-day moving average and ongoing efforts to manage and monetize its asset portfolio amid market challenges.

• Power REIT shares crossed below the 200-day moving average as of July 30, 2026, indicating recent market price weakness. [N1]
• The company continues to focus on monetizing underperforming assets, including selling and re-leasing properties in the Greenhouse Portfolio. [S1]
• Power REIT has settled defaulted loans related to the Greenhouse Portfolio by providing deeds-in-lieu of foreclosure for certain properties, resulting in asset write-offs and non-cash gains. [S1]
• The company has been actively selling properties and providing seller financing to buyers as part of its liquidity and capital recycling strategy. [S1]
• Power REIT faces ongoing risks related to tenant concentration, debt obligations, internal control weaknesses, and potential NYSE American listing challenges. [S2]

Power REIT's focused strategy on monetizing underperforming assets, particularly within the Greenhouse Portfolio, and its efforts to improve liquidity through property sales and leasing could enhance operational stability. The company's ownership of railroad infrastructure and utility-scale solar farm land provides diversified income streams. Successful capital raising initiatives and debt reduction efforts may strengthen the balance sheet and support future growth opportunities. The evolving real estate market conditions, including distressed property availability, may present acquisition or investment opportunities aligned with the company's strategic objectives.

Power REIT faces significant risks from its concentrated tenant base, with over 90% of rental income derived from two tenants, exposing it to potential cash flow volatility. The Greenhouse Portfolio's poor performance, including tenant defaults and significant vacancies, has led to asset write-offs and ongoing liquidity challenges. The company has substantial debt and preferred stock obligations with cumulative unpaid dividends, limiting financial flexibility. Material weaknesses in internal controls and potential delisting risks from the NYSE American exchange add to operational uncertainties. Failure to successfully raise capital or monetize assets could adversely affect financial condition and operations.

Power REIT's moat derives from its ownership of specialized real estate assets in niche sectors such as railroad infrastructure, utility-scale solar farm land, and Controlled Environment Agriculture properties, including cannabis cultivation facilities. The company's internally-managed structure and ownership through multiple subsidiaries allow focused asset management and financing. However, the moat is challenged by market conditions affecting the Greenhouse Portfolio, tenant performance issues, and regulatory complexities related to cannabis-related properties. The company's ability to monetize and reposition assets, maintain tenant relationships, and manage debt obligations contributes to its competitive positioning within its specialized real estate niches.

• Liquidity Risk: Power REIT has limited short-term liquidity with a current ratio of 0.01 and cash ratio of 0.14 as of September 30, 2026, which may constrain its ability to meet obligations and fund operations.
• Tenant Concentration Risk: Approximately 92% of rental income is concentrated in two tenants, increasing exposure to tenant-specific financial difficulties or defaults.
• Greenhouse Portfolio Performance: Significant vacancy and tenant defaults in the Greenhouse Portfolio have resulted in loan defaults, asset write-offs, and ongoing monetization challenges.
• Debt and Preferred Stock Obligations: Substantial outstanding debt and Series A Preferred Stock with cumulative unpaid dividends limit financial flexibility and may impact dividend payments to common shareholders.
• Internal Control Weaknesses: Material weaknesses in accounting controls related to complex transactions have not been remediated, potentially affecting financial reporting accuracy.
• Regulatory and Listing Risks: Potential delisting from NYSE American due to share price and equity requirements, and regulatory scrutiny related to cannabis-related property holdings, pose risks to market listing status.
• Tax Delinquencies: Delinquent property taxes on the Greenhouse Portfolio may lead to tax foreclosure actions, further impacting asset values and operations.

• Power REIT is a Maryland-domiciled, internally-managed real estate investment trust (REIT) owning real estate assets related to transportation, energy infrastructure, and Controlled Environment Agriculture (CEA) in the U.S. [S1]
• The Trust owns assets through nineteen wholly-owned subsidiaries formed to hold real estate assets, obtain financing, and generate lease revenue. [S1]
• As of December 31, 2025, assets included approximately 112 miles of railroad infrastructure owned by subsidiary Pittsburgh & West Virginia Railroad (P&WV), 447 acres of land leased to a utility scale solar power project with 82 MW capacity, and 82 acres with about 357,000 square feet of greenhouse properties (Greenhouse Portfolio). [S1]
• The Greenhouse Portfolio, including cannabis and food cultivation greenhouses, has experienced significant vacancy and poor performance. The company is focused on monetizing this portfolio by selling or re-leasing vacant properties and increasing cash flow from occupied properties. [S1]
• A loan secured by most of the Greenhouse Portfolio (Greenhouse Loan) was in default; Power REIT settled with the lender in April 2025 by providing deeds-in-lieu of foreclosure for Michigan and Nebraska properties, resulting in a write-off of approximately $16.9 million and a non-cash gain of about $1.1 million. [S1]
• Power REIT's business strategy includes raising capital by monetizing portfolio value, selling non-core and underperforming assets, re-leasing vacant or non-performing properties, improving portfolio quality and operating results, and positioning for future growth. [S1]
• The company has been actively selling properties and providing seller financing to buyers, with sales transactions in 2024 and 2025 generating proceeds and modifying loan terms. [S1]
• As of September 30, 2026, Power REIT had cash and cash equivalents of approximately $2.65 million, a net loss of about $135,713 for Q3 2026, and an EPS of -$0.81. The accumulated deficit was approximately $52.5 million. [S2]
• Liquidity ratios as of September 30, 2026, show a current ratio of 0.01 and a cash ratio of 0.14, indicating limited short-term liquidity. [S2]
• The company has substantial debt and preferred shares outstanding with significant liquidation preference, including approximately $19.7 million in debt and $8.5 million par value of Series A Preferred Stock with cumulative unpaid dividends of about $2.6 million as of September 30, 2026. [S2]
• Power REIT has identified material weaknesses in internal controls related to accounting for complex transactions, specifically classification of Series A Preferred Stock, which had not been remediated as of September 30, 2026. [S2]
• The company’s revenue is concentrated, with approximately 92% of rental and lease income from two tenants: Norfolk Southern Railway (49%) and Regulus Solar, LLC (43%) as of September 30, 2026. [S2]
• Power REIT is not current on property taxes for the Greenhouse Portfolio, with accrued expenses of approximately $1.1 million; delinquent taxes may lead to tax foreclosure actions starting in early 2026. [S2]
• The company entered into a sales agreement in January 2025 to issue and sell common shares in an 'at the market offering,' but sales are limited by SEC and NYSE American rules and market capitalization thresholds. [S2]
• Power REIT’s common shares and Series A Preferred Stock face potential delisting risks from NYSE American due to price and equity requirements, with ongoing efforts to convert preferred shares to common shares to maintain listing. [S2]
• Recent news highlights include Power REIT shares crossing below the 200-day moving average as of July 30, 2026, reflecting market price movements. [N1]