StockNews.com Initiates Coverage on Power REIT (NYSE:PW)

Equities research analysts at StockNews.com assumed coverage on shares of Power REIT (NYSE:PW) in a note issued to investors on Wednesday. The brokerage set a “hold” rating on the stock.

Power REIT Stock Up 20.7 %

NYSE:PW opened at $0.83 on Wednesday. Power REIT has a fifty-two week low of $0.66 and a fifty-two week high of $9.98. The stock has a market capitalization of $2.83 million, a P/E ratio of 0.63 and a beta of 1.01. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.56 and a current ratio of 1.56. The company’s 50-day simple moving average is $0.97 and its 200-day simple moving average is $1.54.

Institutional Trading of Power REIT

A number of large investors have recently made changes to their positions in the company. Pensionfund Sabic grew its position in Power REIT by 71.7% in the 2nd quarter. Pensionfund Sabic now owns 29,948 shares of the company’s stock valued at $49,000 after buying an additional 12,511 shares during the last quarter. Millennium Management LLC purchased a new stake in Power REIT during the 4th quarter worth about $61,000. Royal Bank of Canada increased its position in Power REIT by 313.2% during the 3rd quarter. Royal Bank of Canada now owns 3,099 shares of the company’s stock worth $33,000 after purchasing an additional 2,349 shares in the last quarter. Captrust Financial Advisors purchased a new stake in Power REIT in the 2nd quarter valued at about $128,000. Finally, Jane Street Group LLC purchased a new stake in shares of Power REIT during the 2nd quarter worth about $165,000. 26.22% of the stock is currently owned by hedge funds and other institutional investors.

About Power REIT

Power REIT, with a focus on the Triple Bottom Line and a commitment to Profit, Planet and People is a specialized real estate investment trust (REIT) that owns sustainable real estate related to infrastructure assets including properties for Controlled Environment Agriculture, Renewable Energy and Transportation.