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SECURITIES AND EXCHANGE COMMISSION
Washington, DC  20549

FORM 8-K

Current Report Pursuant
to Section 13 or 15(d) of the
Securities Exchange Act of 1934


PITTSBURGH & WEST VIRGINIA RAILROAD
(Exact Name of Registrant as Specified in Its Charter)

Pennsylvania
(State or Other Jurisdiction of Incorporation)



        1-5447                              25-6002536
(Commission File Number)       (I.R.S. Employer Identification No.)


55 Edison Avenue, West Babylon, New York 		         11704
(Address of Principal Executive Offices)               (Zip Code)

                              (212) 750-0373
         (Registrant's Telephone Number, Including Area Code)



Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligations of the registrant
under any of the following provisions

[ ] Written communications pursuant to Rule 425 under the
Securities Act (17 CFT|R 230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange
Act (17 CFR 240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under
the Exchange Act (17 CFR 240.14d-2(b))


[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under
the Exchange Act (17 CFR 240.13e-4(c))



SECTION 5: CORPORATE GOVERNANCE AND MANAGEMENT

Item 5.03	Amendments to Articles of Incorporation or Bylaws; Change
in Fiscal Year

On October 17, 2011, the Board of Trustees approved an amendment to
the Trust's Third Amended Declaration of Trust, dated August 11,
2011.  The amendment was deemed to be in the best interest of the
Trust to ensure the Trust's compliance with IRS restrictions on
concentrated share ownership of real-estate investment trusts
(REITs).  The specific amendment was the addition of Article VIII,
which prohibits the actual or beneficial ownership by any person of
more than 9.9% of the outstanding shares, unless an exception applies
or an exemption is granted by the Board of Trustees, in its sole and
absolute discretion.The restrictions provide that if, at any time,
for any reason, those ownership limitations are violated or more than
50% in value of the Trust's outstanding shares otherwise would be
considered owned by five or fewer individuals, then a number of
shares necessary to cure the violation will automatically and
irrevocably be transferred from the person causing the violation to
a designated charitable beneficiary.

The foregoing description is qualified in its entirety by reference to
the amendment to our Third Amended Declaration of Trust, a copy of
which is attached hereto as Exhibit 3.1 and is incorporated herein by
reference.

SECTION 9	FINANCIAL STATEMENTS AND EXHIBITS

Item 9.01	Financial Statements and Exhibits

(d) Exhibits

Exhibit
No.	Description
3.1	Amendment to Third Amended Declaration of Trust, dated
	October 17, 2011


SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its
behalf by the undersigned hereunto duly authorized.


Date: October 17, 2011

PITTSBURGH & WEST VIRGINIA RAILROAD

By:        /s/ David H. Lesser
Name:	   David H. Lesser
Title:     CEO and Chairma