Power REIT (NYSE-A:PW) CEO David Lesser joined Proactive to discuss the group's third quarter, which saw a 229% increase in net income, as its property acquisitions continue to drive impressive growth. Net income for the three months to September 30 was around $1.6 million, compared to $506,000 in 3Q, 2020, on revenue of around $2.5 million, up 128% from $1.1 million seen in the year-ago period. The group made its largest acquisition to date, namely a 556,000 square feet controlled environment agriculture facility in Michigan - the largest cannabis cultivation in the state and in all of the US.
Power REIT sees 'dramatic growth' in net income and revenue as property acquisitions drive growth
