Power REIT (NYSE:PW) Stock Price Up 2% – Here’s What Happened

Power REIT (NYSE:PW)’s stock price rose 2% on Thursday . The company traded as high as $9.77 and last traded at $9.5410. 7,931 shares were traded during mid-day trading, a decline of 7% from the average daily volume of 8,514 shares. The stock had previously closed at $9.35.

Power REIT Stock Performance

The company has a market capitalization of $3.50 million, a P/E ratio of -1.35 and a beta of 1.36. The company’s 50 day moving average is $7.86 and its 200-day moving average is $8.62. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 15.62.

Hedge Funds Weigh In On Power REIT

A hedge fund recently bought a new position in Power REIT stock. Pensionfund Sabic acquired a new stake in shares of Power REIT (NYSE:PW) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 29,948 shares of the company’s stock, valued at approximately $26,000. Pensionfund Sabic owned about 0.88% of Power REIT at the end of the most recent quarter. 14.65% of the stock is currently owned by institutional investors.

Power REIT Company Profile

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.