Highest-materiality recent filing
Postal Realty recasts credit facilities to $615M with 30 bps pricing improvement
New $275M revolver (maturing Nov 2030) and $340M term loans (2028/2029/2031) total $615M.
Postal Realty Trust updates non-employee director compensation after 2026 annual meeting
Annual cash retainer of $37,500 and equity retainer of $75,000 for each non-employee director.
All five director nominees elected; vote-for totals ranged from 12.3M to 18.3M shares.
Postal Realty reports Q1 AFFO $0.33/share; raises 2026 AFFO & acquisition guidance
Net income $3.8M ($0.11 diluted EPS); AFFO $11.6M ($0.33 per share).
Postal Realty acquires 12 USPS-leased properties for $11.53M from CEO-related parties
Portfolio of 12 properties acquired for $11.53M cash, excluding closing costs.
Postal Realty Q4 AFFO $0.33/dil share; FY 2025 AFFO $1.32; guides 2026 AFFO $1.39-$1.41
Q4 net income $4.6M ($0.15/dil); FFO $12.4M ($0.37/dil); AFFO $11.1M ($0.33/dil).
Full year 2025 acquisitions: 216 properties for $123M at a weighted average cash capitalization rate of 7.7%.
Full-year 2025 acquisition volume guidance raised from $110M to $120M+; all other guidance reaffirmed.
Postal Realty closes $13.87M cash acquisition of 25 properties from CEO's family
Acquired 25 properties for ~$13.87M cash from family members of CEO Andrew Spodek.
Postal Realty Q3 AFFO $0.33; raises FY AFFO guidance to $1.30-$1.32
Net income $3.8M ($0.13 diluted EPS); revenue up 24% YoY.
Postal Realty Trust appoints Steve Bakke as CFO effective Nov 5, 2025
Steve Bakke appointed Executive VP, CFO, and Principal Financial Officer, succeeding interim CFO Jeremy Garber.
Postal Realty Trust expands credit facilities to $440M, extends maturities through 2030
Credit facilities upsized to $440M; revolver matures Nov 2029, term loan Jan 2030 (was Jan 2026/Jan 2027).
Postal Realty Q2 AFFO $0.33/sh; raises FY25 AFFO guidance to $1.24-$1.26
Revenue grew 29% YoY to Q2; net income $3.6M ($0.12 diluted EPS).
Postal Realty CFO Robert Klein resigns; Jeremy Garber named interim CFO
Klein resigns effective June 18, 2025 to join a private real estate company.
All five director nominees elected: Donahoe, Lefkowitz, Gural-Senders, Feingold, Spodek.
Postal Realty amends management pacts for 362 CEO-affiliated properties, sets 4% fee
Amended management agreements for 362 properties owned by CEO Andrew Spodek's family and affiliates; approved by independent Special Committee.
Postal Realty Trust Q1 AFFO $0.32/shr; guides FY AFFO $1.20-$1.22
Net income $2.1M ($0.06/shr); revenue up 28% YoY.
Postal Realty Q4 AFFO $0.35/sh; FY AFFO $1.16/sh; guides FY2025 $1.20-$1.22; $25M buyback
Q4 net income $4.5M ($0.17 diluted), FFO $9.0M ($0.30), AFFO $10.6M ($0.35).
Acquired 197 properties in 2024 for ~$91M (excl. closing costs) at a weighted avg cap rate of 7.6%.
Postal Realty Q3: FFO $0.24/shr, AFFO $0.30/shr; lease escalations; debt refi
Q3 net income $1.1M ($0.03/shr); FFO $7.1M ($0.24/shr); AFFO $8.8M ($0.30/shr). Revenue up 22% YoY.
Third Amendment to Credit Agreement signed Oct 25, 2024; ups delayed draw commitments by $50M (to $175M total).
162 fully executed new leases received: 79 for 2023 (57% of expired rent) and 83 for 2024 (51% of expired/scheduled rent).
Postal Realty Trust Q2 2024 FFO $0.23/sh; acquired 70 USPS properties for $28.3M
Q2 net income $0.8M ($0.02 EPS); FFO $6.5M ($0.23/sh); AFFO $7.5M ($0.26/sh).
Postal Realty Trust acquires 36 USPS-leased properties from related party for $12.5M
Acquired 36 properties leased to USPS from CEO family entity for $12.5M cash.
Five director nominees elected: Donahoe, Lefkowitz, Gural-Senders, Feingold, Spodek; votes for ranged 11.8M–16.1M shares.
Postal Realty Q1 AFFO $0.25/shr, acquires 29 USPS properties for $18.5M
Net income $0.2M; FFO $5.5M ($0.20/shr); AFFO $6.9M ($0.25/shr).
Postal Realty posts $0.12 EPS, $1.07 AFFO for 2023; rental income up 20%
Net income $3.7M ($0.12/diluted share); AFFO $27.3M ($1.07/diluted share) for year ended 2023.
Postal Realty acquires 223 USPS properties for $78M in 2023 at 7.7% cap rate
FY 2023: acquired 223 properties leased to USPS for $78M (excl. closing costs) at 7.7% weighted avg cap rate.
Postal Realty Q3: net income $1.2M, AFFO $0.27, acquires $24.2M in USPS properties
Net income $1.2M ($0.04 diluted); FFO $6.3M ($0.25); AFFO $6.9M ($0.27); revenue up 17% YoY.
Postal Realty amends CEO/CFO employment deals; new base salaries, severance terms effective Jan 2023
CEO Andrew Spodek base salary set at $380k; bonus target 150% of base; LTIP target 160% of base.
Postal Realty Q2 net income $1.0M; AFFO $0.27/share; acquires $15.8M USPS properties
Net income $1.0M ($0.03 diluted EPS); FFO $6.0M ($0.24/diluted); AFFO $6.8M ($0.27/diluted).
Postal Realty Trust adds $35M accordion and SOFR option to credit facility
Exercised $25.0M accordion on term loan maturing Jan 2027 and $10.0M delayed-draw accordion on term loan maturing Feb 2028.
Postal Realty Trust dismisses BDO, appoints Deloitte as independent auditor effective June 29, 2023
Audit Committee completed competitive review and approved Deloitte & Touche as new independent registered public accounting firm.
Postal Realty Trust shareholders elect directors, ratify BDO as auditor at June 9 annual meeting
Re-elected directors: Patrick R. Donahoe (14.7M for, 152K withheld), Barry Lefkowitz (8.3M for, 6.6M withheld).
Postal Realty Q1 revenue up 27%, EPS $0.00, AFFO $0.27; acquires 39 USPS properties
Revenue grew 27% YoY; net income $0.3M ($0.00 diluted EPS).
Postal Realty Trust reports FY2022 AFFO $1.01/share; acquired 320 USPS properties for $123M
Net income attributable to common shareholders $3.9M ($0.15 diluted EPS); FFO $22.4M ($0.96); AFFO $23.5M ($1.01).
Postal Realty Trust acquires 320 properties for $123M in 2022, 100% debt fixed-rate at year-end
Acquired 320 properties for ~$123M in 2022; weighted average cap rate of 6.8%.
Postal Realty Trust enters $50M ATM equity offering; terminates prior sale agreements
New open market sale agreements for up to $50M gross proceeds of Class A common stock.
Postal Realty Trust Q3 FFO $0.25/sh, AFFO $0.26/sh; acquires 66 USPS properties for $20.8M
Revenue grew 31% YoY; net income $0.9M ($0.04 diluted EPS).
Postal Realty Trust Q2 2022: AFFO $0.24, acquired $55.1M of USPS properties, dividend up 4.5%
Net income attributable to common shareholders $1.0M ($0.04 diluted EPS); FFO $5.4M ($0.23); AFFO $5.5M ($0.24).
Postal Realty Trust reports 2022 annual meeting voting results
Five directors elected: Donahoe (14.3M for), Lefkowitz (10.4M), Gural-Senders (10.5M), Feingold (10.1M), Spodek (14.3M).
Postal Realty Trust Q1 net income $0.6M; revenue up 35%; adds $75M credit facility
Q1 2022 net income $0.6M ($0.02/sh); FFO $4.8M ($0.21/sh); AFFO $5.4M ($0.24/sh).
Postal Realty Trust Q4/FY2021: FFO $0.24/$0.95 per share, acquired 239 properties in 2021
Q4 net income $0.8M ($0.04 diluted EPS); rental income up 49% vs Q4 2020.
PSTL: 2021 acquisitions $118M, Q4 rent collections 100%, occupancy 99.6%
Full-year 2021: acquired 239 properties for ~$118M at 7–7.5% cap rate; Q4 alone 55 properties for $42.8M.
Postal Realty Trust closes public offering of 4.8875M shares at $17/share
Underwriting agreement signed Nov 16 for 4,250,000 shares; underwriters fully exercised option for additional 637,500 shares on Nov 17.
Postal Realty Q3 2021: FFO $0.25/sh; acquired 59 USPS properties for $19.2M
Net income $0.5M ($0.03/diluted); FFO $4.4M ($0.25/diluted); AFFO $4.8M ($0.27/diluted).
Postal Realty Q2 AFFO $0.26; acquires 71 USPS properties; upsizes credit facilities
Q2 net income $671K ($0.04 diluted EPS); FFO $4.0M ($0.25/sh); AFFO $4.3M ($0.26/sh).
Postal Realty LP issued 713,409 OP Units for 41 postal properties in 4 deals
Issued 713,409 OP Units as consideration for acquiring 41 postal properties from unaffiliated counterparties.
Postal Realty Q2: 100% rent, 71 properties for $30M, portfolio 100% occupied
Collected 100% of rents in Q2 2021; portfolio 100% occupied as of June 30, 2021.
Jeremy Garber, the Company’s President, Treasurer and Secretary was appointed to serve as the Company’s interim Chief Financial Officer while the Company conducts a search process for a permanent successor effective on the Transition Date.
Robert B. Klein announced his intention to resign from his role as Chief Financial Officer of Postal Realty Trust, Inc. (the “Company”) in order to accept a position with a privately-held real estate company.
Max materiality 0.80 · Median 0.60 · Most common event earnings