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) operates as a specialized real estate investment trust managing properties leased to the United States Postal Service. This page serves as the definitive source for PSTL's corporate announcements, financial disclosures, and strategic developments within its niche postal property portfolio.
Investors and analysts will find curated press releases covering quarterly earnings, property acquisitions, lease renewals, and management updates. The repository also features operational milestones related to PSTL's fee-based third-party management services and portfolio expansion strategies.
Key content categories include financial results, USPS lease agreements, acquisition announcements, and governance updates. All materials are sourced directly from company filings and official communications to ensure regulatory compliance and factual accuracy.
Bookmark this page for streamlined access to Postal Realty Trust's latest developments in government-leased commercial real estate. Check back regularly to monitor how PSTL maintains its position as a leading operator of mission-critical postal properties nationwide.
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.
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.
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