Postal Realty Trust, Inc. Provides Fourth Quarter and Full Year 2025 Update

Rhea-AI Summary

Postal Realty Trust (NYSE: PSTL) reported full-year and Q4 2025 portfolio and capital activity. For 2025 the company acquired 216 USPS-leased properties for ~$123.0M (≈642,000 leasable SF) at a weighted average cash capitalization rate of 7.7%. Q4 purchases: 65 properties for ~$29.1M at a 7.5% cap rate. Portfolio at year-end: 1,917 properties, 99.8% occupied, ≈7.1M leasable SF, weighted average rent $11.88/occupied SF. Capital: 89% of debt fixed, weighted average interest rate 4.38%, no debt maturities until 2028, and 34,104,349 fully diluted shares outstanding.

Positive

• Acquired 216 properties for approximately $123.0M in 2025
• Portfolio grew by approximately 20% in asset base year-over-year
• 89% of debt outstanding set to fixed rates at year-end 2025
• Weighted average interest rate of total debt was 4.38%
• No debt maturities until 2028, supporting near-term liquidity

Negative

• Issued 3,154,321 shares in 2025 via ATM, increasing diluted share count (~9.3% of year-end fully diluted shares)
• $39M outstanding on senior unsecured revolving credit facility at year-end 2025

News Market Reaction

-0.55%

1 alert

-0.55% News Effect

On the day this news was published, PSTL declined 0.55%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

2025 acquisitions: $123 million for 216 properties 2025 cash cap rate: 7.7% Q4 2025 acquisitions: $29.1 million for 65 properties +5 more

8 metrics

2025 acquisitions $123 million for 216 properties Full year 2025 USPS-leased acquisitions

2025 cash cap rate 7.7% Weighted average cash capitalization rate on 2025 acquisitions

Q4 2025 acquisitions $29.1 million for 65 properties Fourth quarter 2025 USPS-leased acquisitions

Portfolio occupancy 99.8% Owned portfolio as of December 31, 2025

Weighted avg rent $11.88 per sq ft Portfolio weighted average rental rate at year-end 2025

Debt fixed-rate share 89% of debt Debt outstanding set to fixed rates at end of 2025

ATM Q4 issuance 807,184 shares for $12.6 million Q4 2025 at-the-market offering program

Fully diluted shares 34,104,349 shares Fully diluted shares outstanding as of December 31, 2025

Market Reality Check

Price: $17.67 Vol: Volume 176,797 is about 2...

normal vol

$17.67 Last Close

Volume Volume 176,797 is about 20% below the 20‑day average of 221,559, suggesting a moderate reaction. normal

Technical Price at $16.22 is trading above the 200-day MA $14.76 and about 1.7% below the 52-week high of $16.50.

Peers on Argus

PSTL gained 1.06% while peers were mixed: DEA up 5.11%, PKST up 0.65%, BDN up 0....

PSTL gained 1.06% while peers were mixed: DEA up 5.11%, PKST up 0.65%, BDN up 0.34%, NLOP down 0.48%, PDM down 2.59%, pointing to a stock-specific move rather than a broad REIT office trend.

Historical Context

5 past events · Latest: Dec 02 (Neutral)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Dec 02	Conference participation	Neutral	-1.2%	Management participation in NobleCon21 and Nareit REITworld investor conferences.
Nov 10	Conference participation	Neutral	+0.9%	CEO and management presenting at two real estate and IDEAS conferences.
Nov 04	Earnings results	Positive	-0.5%	Q3 2025 results with 24% revenue growth and raised AFFO guidance.
Oct 22	Dividend declaration	Positive	-0.5%	Quarterly dividend of $0.2425 per share, a 1.0% annual increase.
Oct 21	Earnings date notice	Neutral	+1.1%	Announcement of timing and webcast details for Q3 2025 results.

Pattern Detected

Recent fundamentally positive items (earnings, dividend increase) saw negative next-day moves, suggesting a tendency for the stock to sell off or underreact on good news.

Recent Company History

Over the last several months, Postal Realty Trust reported strong Q3 2025 results with 24% revenue growth and higher net income, raised full‑year AFFO guidance, and continued portfolio expansion and credit facility amendments. It also modestly increased its quarterly dividend to $0.2425 per share. Conference participation and investor outreach have been frequent. Today’s 2025 acquisition and balance sheet update continues this pattern of steady portfolio growth and capital markets activity built around USPS‑leased properties.

Market Pulse Summary

This announcement outlines substantial 2025 acquisition activity of $123 million at a 7.7% cash cap ...

Analysis

This announcement outlines substantial 2025 acquisition activity of $123 million at a 7.7% cash cap rate, a 99.8%-occupied portfolio, and a balance sheet with 89% of debt fixed and no maturities until 2028. Equity was raised via an at-the-market program, increasing fully diluted shares to 34.1 million. Investors may watch future AFFO per share trends, additional acquisition volumes, financing mix, and occupancy levels to assess the durability of this growth strategy.

Key Terms

at-the-market offering program, weighted average cash capitalization rate, net leasable interior square feet, fully diluted shares outstanding

4 terms

at-the-market offering program financial

"Through its at-the-market offering program, the Company issued 807,184 shares..."

An at-the-market offering program lets a company sell newly issued shares directly into the open market at current trading prices through a broker, rather than issuing a large block of stock all at once. It matters to investors because it provides the company a flexible way to raise cash over time, which can dilute existing shares gradually and affect earnings per share and stock price depending on how much and when shares are sold—think of it as a faucet the company can open or close to add supply to the market.

weighted average cash capitalization rate financial

"These acquisitions were completed at a weighted average cash capitalization rate of approximately 7.5%."

A weighted average cash capitalization rate is the single blended percentage used to convert a company’s expected future cash receipts into a current dollar value, where different cash streams are given different weights based on size, timing or risk. Think of it as the average interest rate you would use if you merged several loans into one — it determines how much future cash is worth today, so changes in that rate materially affect valuations and investor comparisons.

net leasable interior square feet technical

"These properties comprise approximately 642,000 net leasable interior square feet..."

Net leasable interior square feet is the floor area inside a building that can be rented to tenants, excluding common areas like hallways, lobbies, stairwells, mechanical rooms and structural elements. Investors care because this number represents the actual revenue-producing space—think of it as the usable rooms in a house you can rent out versus the shared corridors—so it directly affects potential rental income, occupancy metrics and property valuation.

fully diluted shares outstanding financial

"As of December 31, 2025, there were 34,104,349 fully diluted shares outstanding..."

Total number of shares that would exist if every outstanding option, warrant, convertible security and other instrument that can become stock were exercised or converted; it combines current shares with all potential shares. Investors use this figure to see the true size of the ownership pie and to judge per-share metrics like earnings or value per share, because potential extra shares can dilute each existing investor’s claim much like adding more slices reduces the size of each slice of a pie.

AI-generated analysis. Not financial advice.

- Acquired 216 Properties for $123 Million in 2025 -
- Full Year 2025 Weighted Average Cash Capitalization Rate of 7.7% -
- 89% of Debt Outstanding Set to Fixed Rates -
- No Debt Maturities Until 2028 -

CEDARHURST, N.Y., Jan. 08, 2026 (GLOBE NEWSWIRE) -- Postal Realty Trust, Inc. (NYSE: PSTL) (the “Company”), an internally managed real estate investment trust that owns and manages over 2,200 postal properties leased primarily to the United States Postal Service (the “USPS”), ranging from last-mile post offices to industrial facilities, provided an update on its acquisition, re-leasing, and capital markets activity for the fourth quarter of 2025. The Company also provided an update on its portfolio, balance sheet and fully diluted shares outstanding at year-end as well as acquisitions for the full year of 2025.

For the full year 2025, the Company acquired 216 properties leased to the USPS for approximately $123 million, excluding closing costs. These properties comprise approximately 642,000 net leasable interior square feet and had a weighted average rental rate of $16.24 per leasable square foot as of December 31, 2025. These acquisitions were completed at a weighted average cash capitalization rate of approximately 7.7%.

“The acquisition volume we achieved in 2025 reflects the strength of our long-standing relationships, our differentiated sourcing strategy, and our specialized expertise in postal real estate,” said Andrew Spodek, Chief Executive Officer. “Last year’s acquisitions represent approximately 20% growth in our asset base¹ from year-end 2024.² Importantly, we drove this growth while maintaining a strong balance sheet.” Mr. Spodek continued, “this growth builds on the results we’ve delivered since our IPO in 2019—expanding our asset base by approximately 1,095%.³ Over that time, we have delivered compound annual AFFO per share growth of approximately 5.5% from 2020 through 2025, based on the midpoint of guidance.”

Fourth Quarter & Year-End 2025 Update

For the fourth quarter of 2025, the Company acquired 65 properties leased to the USPS for approximately $29.1 million, excluding closing costs (the “Q4 2025 Acquisitions Cost”), comprising approximately 142,000 net leasable interior square feet. These acquisitions were completed at a weighted average cash capitalization rate of approximately 7.5%.

The Company’s owned portfolio was 99.8% occupied with 1,917 properties across 49 states and one territory with approximately 7.1 million net leasable interior square feet and a weighted average rental rate of $11.88 per occupied leasable square foot based on rents in place as of December 31, 2025. The weighted average rental rate consisted of $14.09 per occupied leasable square foot on last-mile and flex properties, and $4.23 on industrial properties.

At the end of 2025, 89% of the Company’s debt outstanding was set to fixed rates and $39 million was outstanding on the Company’s senior unsecured revolving credit facility. The weighted average interest rate of the Company’s total debt outstanding was 4.38%.

Through its at-the-market offering program, the Company issued 807,184 shares of common stock at an average gross sales price of $15.63 per share generating gross proceeds of $12.6 million during the fourth quarter and 3,154,321 shares of common stock at an average gross sales price of $15.34 per share generating gross proceeds of $48.4 million during the year.

As of December 31, 2025, there were 34,104,349 fully diluted shares outstanding (including securities convertible into shares of Class A common stock such as common units and long-term incentive units in the Company’s operating partnership and restricted stock units) and the weighted average fully diluted share count for the fourth quarter of 2025 was 33,620,211 shares.

About Postal Realty Trust, Inc.

Postal Realty Trust, Inc. is an internally managed real estate investment trust that owns and manages over 2,200 postal properties leased primarily to the USPS.

Forward-Looking and Cautionary Statements

This press release contains “forward-looking statements.” Forward-looking statements include statements identified by words such as “could,” “may,” “might,” “will,” “likely,” “anticipates,” “intends,” “plans,” “seeks,” “believes,” “estimates,” “expects,” “continues,” “projects” and similar references to future periods, or by the inclusion of forecasts or projections. Forward-looking statements, including, among others, statements regarding the Company’s anticipated growth and acquisition activity, are based on the Company’s current expectations and assumptions regarding capital market conditions, its acquisition pipeline, the Company’s business, the economy and other future conditions. Because forward-looking statements relate to the future, by their nature, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. As a result, the Company’s actual results may differ materially from those contemplated by the forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include the USPS’s terminations or non-renewals of leases, changes in demand for postal services delivered by the USPS, the solvency and financial health of the USPS and the Company’s other tenants, competitive, financial market and regulatory conditions, disruption in market, general real estate market conditions, the Company’s competitive environment and other factors set forth under “Risk Factors” in the Company’s most recent filings with the U.S. Securities and Exchange Commission. Any forward-looking statement made in this press release speaks only as of the date on which it is made. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.

Contacts:
Steve Bakke
EVP and Chief Financial Officer
Email: sbakke@postalrealty.com
Phone: 516-734-0420

Jordan Cooperstein
Senior Vice President of Finance, Capital Markets
Email: jcooperstein@postalrealty.com
Phone: 516-295-7820

________________________
Explanatory Notes:

¹ Asset base represents total real estate properties, at cost, calculated in accordance with GAAP.
² Represents a non-GAAP measure calculated as (i) the sum of (a) total real estate properties, at cost, as of September 30, 2025 plus (b) Q4 2025 Acquisitions Cost (as defined in the paragraph below) divided by (ii) total real estate properties, at cost, as of December 31, 2024.
³ Represents a non-GAAP measure calculated as (i) the sum of (a) total real estate properties, at cost, as of September 30, 2025 plus (b) Q4 2025 Acquisitions Cost divided by (ii) total real estate properties, at cost, as of June 30, 2019, the quarter in which our initial public offering was completed. 

FAQ

How many properties did Postal Realty Trust (PSTL) acquire in 2025 and for how much?

Postal Realty acquired 216 properties in 2025 for approximately $123.0 million (excluding closing costs).

What was PSTL's weighted average cash capitalization rate for 2025 acquisitions?

The full-year 2025 acquisitions completed at a weighted average cash capitalization rate of approximately 7.7%.

What is Postal Realty's portfolio size and occupancy at year-end 2025?

At December 31, 2025 the company owned 1,917 properties across 49 states and one territory, was 99.8% occupied, with about 7.1 million leasable interior square feet.

How much debt did PSTL have at variable rates and what was the weighted average interest rate?

89% of debt outstanding was fixed-rate at year-end 2025 and the weighted average interest rate on total debt was 4.38%.

How many fully diluted shares did Postal Realty have at year-end 2025?

As of December 31, 2025 there were 34,104,349 fully diluted shares outstanding (including convertible securities).

How much capital did PSTL raise through its at-the-market program in 2025?

The company issued 3,154,321 shares in 2025 through its ATM for gross proceeds of approximately $48.4 million.