earnings
confidence high
sentiment positive
materiality 0.70
Postal Realty Trust Q2 2022: AFFO $0.24, acquired $55.1M of USPS properties, dividend up 4.5%
Postal Realty Trust, Inc.
2022-Q2 EPS reported
$0.06
revenue$24,655,000
- Net income attributable to common shareholders $1.0M ($0.04 diluted EPS); FFO $5.4M ($0.23); AFFO $5.5M ($0.24).
- Acquired 150 USPS properties for ~$55.1M; YTD acquisitions total $87M for 216 properties; portfolio 99.7% occupied.
- Revenue grew 35% YoY; weighted average rental rate $8.53/sq ft; net debt $170.3M at 3.42% interest.
- Declared $0.2325 quarterly dividend (annual $0.93), 4.5% increase from prior year; twelfth consecutive increase since IPO.
- Post-quarter end acquired 16 more properties for $4.6M; 36 properties under definitive contract for $14M.