Postal Realty Q1 revenue up 27%, EPS $0.00, AFFO $0.27; acquires 39 USPS properties

Postal Realty Trust, Inc.

2023-Q1 EPS reported $0.00 revenue$15,148,000

Revenue grew 27% YoY; net income $0.3M ($0.00 diluted EPS).
FFO $5.2M ($0.21/sh), AFFO $6.6M ($0.27/sh); collected 100% of contractual rents.
Acquired 39 USPS last-mile/flex properties for ~$17.2M; portfolio 99.7% occupied.
Executed non-binding LOI with USPS to renew 86 leases (~285K sq ft) with 3.5% annual escalations.
Declared Q dividend $0.2375/sh (unchanged), payable May 31; lower 2023 acquisition activity expected.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Postal Realty Trust, Inc. reported the quarter ended March 31, 2023 results: net income $0.3 million, EPS $0.00 per diluted share.

Period: the quarter ended March 31, 2023
Net income: $0.3 million
EPS: $0.00 per diluted share
Result: reported results

Exact text from the filing

Highlights for the Quarter Ended March 31, 2023 • Acquired 39 USPS properties for approximately $17.2 million, excluding closing costs • 27% growth in revenues from first quarter 2022 to first quarter 2023 • Net income attributable to common shareholders was $0.3 million, or $0.00 per diluted share

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Source: SEC EDGAR

accession 0001628280-23-014867

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