Power REIT shares surge 27.22% after-hours following strategic land asset acquisition for renewable energy expansion.

Power REIT surged 27.22% in after-hours trading following the announcement of its acquisition of strategic land assets to expand its infrastructure portfolio, particularly in renewable energy development. The move, part of ongoing expansion plans, was accompanied by a significant solar project deal and a Q3 earnings report showing a notable rise in operating income despite economic challenges. These developments, emphasizing growth in renewable energy and improved financial stability, spurred investor optimism. The stock’s sharp rally aligns with the company’s strategic focus on asset diversification and renewable energy positioning, which are seen as catalysts for long-term value creation.