Pittsburgh & West Virginia Railroad
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The Pittsburgh & West Virginia Railroad is a real estate investment trust (REIT) that's a carry over from the days when the railroads were a major industry in the United States.
Pittsburgh & West Virginia Railroad Line
The company was founded in 1916. Its American Stock Exchange ticker symbol is PW. It owns a lease railroad line from Pittsburgh Junction Ohio to Connellsville Pennsylvania, traveling through West Virginia. About 112 miles total.
Pittsburgh & West Virginia also owns about 20 miles of branch lines and other related property, such as machinery, real estate, equipment and supplies.
It is based in Charleston West Virginia. In 1964, the railroad was leased to Norfolk and Western Railway Company, also known as the Norfolk Southern Corporation (NSC). The company's assets are leased to NSC for 99 years.
Pittsburgh & West Virginia Railroad is an unusual real estate investment trust, with only a small amount of property. The good part is that its income is guaranteed for about 50 more years. However, it's obviously not growing, and so is not attractive.
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