Postal Realty Trust reports Q AFFO 25c, consensus 26c

Reports Q1 revenue $17.29M, consensus $17.12M. “I am pleased with our Company’s performance in the Q1 as our success in 2023 continued into the current year,” stated Andrew Spodek, CEO. “While transaction volumes continue to be lighter in 2024, we added 29 new properties to our portfolio during the quarter for $18.5M at a weighted average capitalization rate of 7.8%. This puts us on track to achieve our full year acquisition guidance of $80M at or above a 7.5% weighted average capitalization rate. With no near-term debt maturities and plenty of available liquidity, we are in a strong financial position to continue expanding our portfolio. Our focus remains on organic growth, accretive acquisitions and developing and maintaining relationships with postal owners and our tenant, the USPS.”