secwatch.observer — SEC 8-K summary
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Issuer:     Postal Realty Trust, Inc. (PSTL)
CIK:        0001759774
Form:       8-K
Filed at:   2024-11-04T23:59:59+00:00
Accession:  0001213900-24-094143
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Postal Realty Q3: FFO $0.24/shr, AFFO $0.30/shr; lease escalations; debt refi
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- Q3 net income $1.1M ($0.03/shr); FFO $7.1M ($0.24/shr); AFFO $8.8M ($0.30/shr). Revenue up 22% YoY.
- Acquired 35 USPS properties for $13.3M at 7.5% cap; portfolio 99.6% occupied, 6.3M sq ft.
- New leases on 55% of 2023 expired rent and 78% of 2024; all include 3% annual escalations. Catch-up payments $1.4M and $0.4M.
- Subsequent: added $50M term loan commitments, drew $40M to pay revolver; interest rate swap fixes at 5.37% through Feb 2028.
- Q4 dividend $0.24/shr ($0.96 annualized), payable Nov 29, 2024 to holders of record Nov 4.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1759774/000121390024094143/0001213900-24-094143-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1759774/000121390024094143/ea0219731-8k_postal.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-094143

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