Postal Realty Trust Stock Price, News & Analysis

Postal Realty Trust (NYSE: PSTL) has announced a quarterly dividend increase of 1.0% to $0.2425 per share for Q4 2024, marking its seventh consecutive year of dividend growth. The dividend will be paid on February 28, 2025, to stockholders of record as of February 14, 2025.

The company, which owns and manages over 2,000 properties primarily leased to the United States Postal Service, also provided the tax characteristics of its 2024 dividends. For the tax year 2024, PSTL paid total dividends of $0.9600 per share, consisting of $0.6552 in ordinary dividends, $0.0088 in qualified dividends, $0.0088 in capital gain distributions, and $0.2960 in non-dividend distributions.

Postal Realty Trust (NYSE: PSTL) has announced a quarterly dividend increase of 1.0% to $0.2425 per share for Q4 2024, marking its seventh consecutive year of dividend growth. The dividend will be paid on February 28, 2025, to stockholders of record as of February 14, 2025.

The company, which owns and manages over 2,000 properties primarily leased to the United States Postal Service, also provided the tax characteristics of its 2024 dividends. For the tax year 2024, PSTL distributed total dividends of $0.96 per share, consisting of $0.6552 in ordinary dividends, $0.0088 in qualified dividends, $0.0088 in capital gain distributions, and $0.2960 in non-dividend distributions.

Postal Realty Trust (NYSE: PSTL) has provided its Q4 and full-year 2024 update, highlighting significant portfolio expansion and leasing activities. The company acquired 197 properties for $91 million in 2024, with a weighted average capitalization rate of 7.6%. These properties added 571,000 net leasable square feet at $13.61 per square foot.

The company made substantial progress in lease renewals, securing 88 new leases representing 85% of 2023 expired rent and 118 leases covering 95% of 2024 expired rent. Notable improvements include 3% annual rent escalations and extended lease terms. The portfolio maintained a 99.6% occupancy rate across 1,703 properties in 49 states, with a weighted average rental rate of $10.60 per square foot.

In Q4 2024, PSTL acquired 63 properties for $30.7 million. The company drew $10 million on a term loan with a fixed interest rate of 5.55% through February 2028. By year-end, 95% of the company's debt was fixed-rate, with $136 million available on its revolving credit facility.

Postal Realty Trust (NYSE: PSTL), an internally managed REIT owning and managing over 2,000 properties leased to the USPS, announced its participation in two key conferences. Andrew Spodek, CEO, Jeremy Garber, President, and Robert Klein, CFO, will attend Nareit’s REITworld: 2024 Annual Conference in Las Vegas, NV from November 19-20, 2024. They will engage with the investment community during the event. Additionally, the Company will present at the 2024 Southwest IDEAS Conference in Dallas, TX on November 21, 2024, at 10:00 AM Central Time. A live webcast of the presentation will be available on the Postal Realty Trust website, with a replay accessible shortly after the event.

Postal Realty Trust (NYSE: PSTL) reported strong Q3 2024 results with 22% year-over-year revenue growth. The company achieved net income of $1.1 million ($0.03 per diluted share), FFO of $7.1 million ($0.24 per diluted share), and AFFO of $8.8 million ($0.30 per diluted share). During Q3, PSTL acquired 35 USPS properties for $13.3 million at a 7.5% cap rate. The company secured new leases with 3% annual escalations for all 2023 and 2024 negotiated properties. Post-quarter, PSTL increased term loan commitments by $50 million and maintained a high occupancy rate of 99.6% across its 1,642 properties.

Postal Realty Trust (NYSE: PSTL), a REIT managing over 2,000 properties primarily leased to the USPS, will release its Q3 2024 financial results on November 4, 2024, after market close. The company will host a webcast and conference call to discuss the results on November 5, 2024, at 9:00 A.M. Eastern Time. A replay will be available from 1:00 P.M. Eastern Time on November 5 through November 19, 2024.

Postal Realty Trust (NYSE: PSTL) has declared a quarterly dividend of $0.24 per share on its Class A common stock for the third quarter of 2024. This represents a 1.1% increase from the third quarter 2023 dividend. The dividend will be payable on November 29, 2024 to stockholders of record as of the close of business on November 4, 2024.

Postal Realty Trust is an internally managed real estate investment trust that owns and manages over 2,000 properties leased primarily to the United States Postal Service (USPS). These properties range from last-mile post offices to industrial facilities.

Postal Realty Trust (NYSE: PSTL) has provided an update on its lease negotiations with the United States Postal Service (USPS). The company has agreed to new rents on all expired 2023 leases and most of the expired and scheduled to expire 2024 leases. As of September 25, 2024, PSTL received 162 fully executed new leases from the USPS, representing 57% of 2023 expired rent and 51% of 2024 expired and scheduled to expire rent.

Key highlights include:

• 3% annual rent escalations on new leases
• Mix of five and ten-year lease terms
• $1.2 million net lump sum catch-up payment received in Q3
• Total net lump sum catch-up payments of $1.5 million

The company is pleased with the negotiations and believes these changes will enhance internal growth and maximize long-term shareholder value. Discussions for 2025 lease expirations are in progress.

Postal Realty Trust (NYSE: PSTL), an internally managed REIT owning over 1,950 properties primarily leased to the USPS, has announced its participation in the 2024 Midwest IDEAS Investor Conference. The event will take place at The Gwen in Chicago, IL on August 28-29, 2024.

Key details:

• CEO Andrew Spodek, President Jeremy Garber, and CFO Robert Klein will present on August 28, 2024, at 9:15 AM Central Time
• A live webcast will be available on the company's website
• A replay will be accessible shortly after the event
• The company will host meetings with investors during the conference

This presentation offers an opportunity for investors to gain insights into Postal Realty Trust's operations and strategy.