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 (PSTL) announced the closure of a $30.2 million property-level financing for its recently acquired 431,000-square foot industrial property in Warrendale, PA. The financing, lasting 10 years with a 2.80% fixed interest rate, allows for interest-only payments for the first five years. The funds will be used to repay amounts under the senior revolving credit facility. CEO Andrew Spodek expressed excitement about this completion, emphasizing its potential to support future acquisitions as the company continues its growth strategy.
Postal Realty Trust has completed the acquisition of a 431,000-square foot industrial property in Warrendale, PA, primarily leased to the USPS, for $47 million. CEO Andrew Spodek highlighted the strategic importance of this property, which diversifies the portfolio and enhances AFFO growth. The acquisition reflects the company’s successful strategy of exceeding $100 million in acquisitions for 2020, achieving a target cap rate of 7% to 9%. Currently, the company owns 714 properties across 47 states, totaling approximately 2.6 million square feet.
Postal Realty Trust (NYSE: PSTL) reported its Q3 2020 results, showing a strong performance with a 13.6% increase in rental income and a net loss of $15.2 thousand, or $(0.01) per diluted share. The company completed acquisitions of 123 USPS properties for $27.6 million, bringing total properties to 691 across 47 states. Funds from Operations (FFO) was $2.4 million ($0.21 per diluted share), while Adjusted FFO was $2.8 million ($0.24 per diluted share). The quarterly dividend was raised 5% to $0.86 per share, reflecting growth fueled by ongoing acquisitions.
Postal Realty Trust, Inc. (NYSE:PSTL) will report its financial results for Q3 2020 on November 10, 2020, after market close. A conference call and webcast are scheduled for the same day at 5:00 PM ET. The company, which manages over 1,000 properties leased to the USPS, claims to be one of the largest owners in this niche. Investors can access the live call and subsequent replay through the company's investor website to gain insights into its performance and future outlook.
Postal Realty Trust, Inc. (NYSE:PSTL) has declared a quarterly dividend of $0.215 per share, a 5.0% increase from the previous dividend. The payment date is set for November 30, 2020, for stockholders of record on November 16, 2020. The company owns and manages over 1,000 properties leased to the United States Postal Service (USPS), positioning itself as one of the largest owners in this niche market.
Postal Realty Trust (NYSE: PSTL) updated its property portfolio, owning 692 properties with a total of 2,140,574 net leasable square feet as of October 7, 2020. The weighted average rental rate increased to $9.83 per square foot from $9.75 per square foot reported on September 30, 2020. The company, known for leasing properties to the USPS, emphasizes its size and management capabilities in the sector. However, the press release includes cautionary statements about various risks, including lease terminations by USPS and market dynamics affected by the COVID-19 pandemic.
Postal Realty Trust (NYSE: PSTL) announced the acquisition of a 49,500 square foot postal property in Greensboro, NC, for approximately $4.6 million. This property, fully leased to the USPS with a seven-year remaining lease term, adds to the company's growing portfolio of postal properties, now totaling 692 properties across 47 states. The company completed acquisitions worth $26.8 million in Q3 2020, maintaining a 100% rent collection rate.