Postal Realty Q2 net income $1.0M; AFFO $0.27/share; acquires $15.8M USPS properties

Postal Realty Trust, Inc.

2023-Q2 EPS reported $0.04 revenue$30,605,000

Net income $1.0M ($0.03 diluted EPS); FFO $6.0M ($0.24/diluted); AFFO $6.8M ($0.27/diluted).
Revenue grew 21% YoY; portfolio 99.7% occupied with 1,364 properties leased to USPS.
Acquired 39 USPS properties for $15.8M in Q2; subsequent to quarter end, acquired 11 more for $5.3M.
Increased ATM offering capacity from $50M to $150M; issued 780,222 shares for $11.7M in Q2.
Quarterly dividend $0.2375 per share ($0.95 annualized); 100% debt fixed rate at 3.95% as of Aug 2.

item 1.01 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 0.95

Postal Realty Trust, Inc. reported the quarter ended June 30, 2023 results: revenue 21% growth in revenues from second quarter 2022 to second quarter 2023, net income Net income attributable to common shareholders was $1.0 million, or $0.03 per diluted share, EPS $0.03 per diluted share.

Period: the quarter ended June 30, 2023
Revenue: 21% growth in revenues from second quarter 2022 to second quarter 2023
Net income: Net income attributable to common shareholders was $1.0 million, or $0.03 per diluted share
EPS: $0.03 per diluted share
Result: reported results

Exact text from the filing

The Company issued a press release on August 8, 2023 announcing its financial results for the quarter ended June 30, 2023.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Postal Realty Trust, Inc. amended Amendment with Jefferies LLC, BMO Capital Markets Corp., Janney Montgomery Scott LLC, Stifel, Nicolaus & Company, Incorporated and Truist Securities, Inc. valued at up to $150,000,000 (effective 2023-08-08).

Action: amendment
Agreement: atm program
Counterparty: Jefferies LLC, BMO Capital Markets Corp., Janney Montgomery Scott LLC, Stifel, Nicolaus & Company, Incorporated and Truist Securities, Inc.
Value: up to $150,000,000
Effective: 2023-08-08

Exact text from the filing

On August 8, 2023, Postal Realty Trust, Inc. (the “Company”) and Postal Realty LP entered into an amendment (the "Amendment") to the separate open market sale agreements, dated November 4, 2022 (as amended, the “Sale Agreements”), with each of Jefferies LLC (“Jefferies”), BMO Capital Markets Corp. (“BMO”), Janney Montgomery Scott LLC, Stifel, Nicolaus & Company, Incorporated and Truist Securities, Inc. (“Truist”), as sales agents, each of Jefferies, Bank of Montreal and Truist Bank, as forward purchasers, and Jefferies, BMO and Truist, as forward sellers, providing for the offer and sale of shares of the Company’s Class A common stock, par value $0.01 per share (the “Shares”), from time to time in “at the market” offerings.

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59 earnings releases filed in the last 30 days. Browse all earnings releases →

Postal Realty Trust, Inc. filing history →

Source: SEC EDGAR

accession 0001628280-23-028252

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