Welcome to our dedicated page for Postal Realty Trust news (Ticker: PSTL), a resource for investors and traders seeking the latest updates and insights on Postal Realty Trust stock.
Postal Realty Trust, Inc. (NYSE: PSTL) is an internally managed real estate investment trust that owns and manages postal properties leased primarily to the United States Postal Service. This news page compiles company announcements, earnings results and transaction updates related to PSTL stock and its USPS-focused real estate portfolio.
Readers can find press releases on quarterly and annual results, where Postal Realty Trust reports rental income, portfolio occupancy, acquisition activity and REIT-specific metrics such as funds from operations (FFO) and adjusted funds from operations (AFFO). The company also issues updates on its acquisition of USPS-leased properties, including the number of properties acquired in a period, total acquisition costs, net leasable interior square feet added and weighted average capitalization rates.
News items also cover leasing developments with the USPS, such as fully executed new leases for properties with expiring leases, lump sum catch-up payments associated with rent increases and commentary on the strength of the company’s relationship with its primary tenant. In addition, Postal Realty Trust publishes information on capital markets activity, including amendments and expansions of its unsecured credit facilities, interest rate swaps, and issuances of common stock through its at-the-market equity offering program.
Corporate governance and leadership changes, such as the appointment of a new Chief Financial Officer or transitions in finance leadership, are disclosed through Form 8-K filings and accompanying press releases and are reflected in this news feed. Investors and researchers can use this page to review Postal Realty Trust’s historical announcements on dividends, guidance updates, conference participation and other material events affecting PSTL.
Postal Realty Trust (NYSE:PSTL) reported strong Q1 2021 results, highlighted by a 73% year-over-year growth in quarterly rental income and the acquisition of 54 properties for $25.8 million. The company raised $57.0 million through an equity offering and improved its balance sheet by repaying $13.7 million in mortgage financing. Net income allocable to common shareholders stood at $0.1 million, while Funds from Operations were $3.3 million. The company also announced a 10% increase in its quarterly dividend to $0.22 per share.
Postal Realty Trust, Inc. (PSTL) announced its financial results for the quarter ending March 31, 2021, will be reported on May 11, 2021, after the market closes. A conference call to discuss these results is set for the same day at 5:00 PM Eastern Time, with a live audio webcast available on the company's investor website. Postal Realty Trust owns over 1,200 properties leased to the USPS, including post offices and industrial facilities, affirming its strong position in the real estate investment sector.
Postal Realty Trust (NYSE:PSTL) announced a quarterly dividend of $0.22 per share, marking a 10% increase from the previous year. This dividend will be paid on May 28, 2021, to stockholders of record by May 14, 2021. The company manages over 1,200 properties, primarily leased to the United States Postal Service (USPS), focusing on last mile, flex, and industrial facilities. This increase in dividends reflects the company's confidence and commitment to returning value to its shareholders.
Postal Realty Trust (NYSE: PSTL) reported strong financial performance for the quarter and year ended December 31, 2020. The company acquired 36 postal properties for $62.6 million in Q4 and 261 properties totaling approximately $130 million throughout 2020, achieving over 100% growth in rental income. Despite a net loss of $0.35 million for the year, Funds from Operations (FFO) reached $8.5 million, or $0.85 per share. The quarterly dividend increased by 28% year-over-year to $0.2175 per share, marking the sixth consecutive increase. The portfolio remained fully occupied, covering 726 properties across 47 states.
Postal Realty Trust, Inc. (NYSE:PSTL) will report its financial results for Q4 2020 on March 23, 2021, after market close. A conference call will be held the same day at 5:00 P.M. ET, with a live audio webcast available on the company's investor website. Postal Realty Trust owns over 1,100 properties leased primarily to the USPS, positioning itself as one of the largest owners and managers in this sector. A telephonic replay of the call will be accessible from March 23 until April 6, 2021.
Postal Realty Trust, Inc. (NYSE:PSTL) announced a quarterly dividend of $0.2175 per share, marking its sixth consecutive increase since its IPO in 2019. This dividend will be payable on February 26, 2021 to stockholders on record as of February 12, 2021. The company owns over 1,100 properties leased primarily to the USPS, positioning itself as a leading owner in this sector. The reported tax treatment of 2020 dividends indicates a total distribution of $0.7900 per share for the year, with significant portions attributed to taxable ordinary dividends.
Postal Realty Trust (NYSE: PSTL) announced an upsized public offering of 3,250,000 shares of Class A common stock at $15.25 per share, with an option for underwriters to purchase an additional 487,500 shares. The offering is expected to close on January 14, 2021. Net proceeds will support general corporate purposes, including property acquisitions and debt repayment. Jefferies, Stifel, BMO Capital Markets, and Janney Montgomery Scott are managing the offering. Postal Realty Trust owns over 1,100 properties leased primarily to the USPS, positioning itself as a leading owner in this sector.
Postal Realty Trust, Inc. (NYSE: PSTL) has announced a public offering of 2,750,000 shares of its Class A common stock, with an underwriter option for an additional 412,500 shares. The net proceeds will be utilized for general corporate purposes, including property acquisitions, dividend payments, and debt repayment. This follows the effectiveness of their registration statement on Form S-3 by the SEC in December 2020. The offering is facilitated by Jefferies, Stifel, BMO Capital Markets, and Janney Montgomery Scott.
Postal Realty Trust, Inc. (NYSE: PSTL) has appointed Robert Klein as its new Chief Financial Officer effective January 1, 2021. Klein brings over 20 years of experience in corporate finance and capital markets, having previously led capital markets at Monday Properties. CEO Andrew Spodek expressed enthusiasm regarding Klein's expertise, emphasizing its potential to enhance the company's financial strategies. Klein is optimistic about the firm’s growth trajectory, citing its strong performance since IPO and effective management through the pandemic.
Postal Realty Trust, Inc. (NYSE: PSTL) provided an update on its performance for Q4 2020 and full year results. The Company reported a 100% rent collection rate for the final quarter and completed acquisitions worth approximately $130.3 million for 261 properties during the year. Portfolio occupancy stands at 100% across 726 properties, totaling around 2.7 million leasable square feet with a weighted average rental rate of $9.67 per square foot. Looking ahead, the Company has agreements for acquiring an additional 13 properties valued at about $18.5 million.