Postal Realty Trust Q2 2024 FFO $0.23/sh; acquired 70 USPS properties for $28.3M

Postal Realty Trust, Inc.

2024-Q2 EPS reported $0.01 revenue$35,338,000

Q2 net income $0.8M ($0.02 EPS); FFO $6.5M ($0.23/sh); AFFO $7.5M ($0.26/sh).
Revenue grew 17% YoY; portfolio 99.6% occupied; collected 100% contractual rents.
Acquired 70 USPS properties for $28.3M at 7.6% weighted avg cap rate.
Declared $0.24/sh quarterly dividend (annualized $0.96), payable Aug 30 to holders of record Aug 2.
Balance sheet: $3M cash, $272M net debt (4.48% avg rate), $108M undrawn credit facility.

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