What is the revenue and EPS growth rate for Postal Realty Trust year over year?

What is Postal Realty Trust's gross profit margin?

What is Postal Realty Trust's latest dividend and current dividend yield?

What were the key takeaways from Postal Realty Trust’s earnings call?

What does Postal Realty Trust do and what are its main business segments?

What factors drove the changes in Postal Realty Trust's revenue and profit?

What were the key takeaways from Postal Realty Trust's earnings call?

What guidance did Postal Realty Trust's management provide for the next earnings period?

- **AFFO Growth**: Q3 AFFO of $0.33 (+10% YoY), 2025 guidance raised to $1.30-$1.32 (13% growth).
- **Acquisition Momentum**: $42.3M Q3 acquisitions (7.7% cap rate), guiding to $110M+ for 2025.
- **Leasing Strength**: 53% of portfolio with escalations, same-store NOI guidance up to 8.5%-9.5%.
- **Balance Sheet**: 5.2x net debt/EBITDA, $125M undrawn revolver, 93% fixed-rate debt.
- **New CFO**: Steve Bakke brings Realty Income experience to enhance capital strategy.

**【Management Opening Remarks】**
- Jordan Cooperstein welcomed participants and outlined the call's structure, emphasizing forward-looking statements and non-GAAP financial measures.

**【CEO Summary Section】**
- **Q3 Performance**: Reported AFFO of $0.33 per share, a 10% YoY increase. Updated 2025 AFFO guidance to $1.30-$1.32, implying 13% growth at midpoint.
- **Strategic Pillars**: Focused on organic growth (programmatic leasing with 3% annual escalators), accretive acquisitions (e.g., $23.5M Newtonville, MA property), and capital access.
- **Leasing Success**: 53% of portfolio rents now include annual escalations; 38% under 10-year leases. Same-store NOI guidance raised to 8.5%-9.5% from 7%-9%.
- **Acquisition Pipeline**: Q3 acquisitions of $42.3M (7.7% cap rate), bringing year-to-date total to $100M+. Guided to meet/exceed $110M for 2025.
- **Leadership Update**: Steve Bakke joined as CFO, bringing expertise from Realty Income.

**【CFO Financial Commentary】**
- **Balance Sheet Strength**: Net debt/EBITDA of 5.2x, 93% fixed-rate debt, and $125M undrawn revolver.
- **Capital Allocation**: Used credit facilities, ATM equity ($26.7M at $15.50/share), and retained AFFO for acquisitions.
- **Dividend Growth**: 1% increase to $0.2425/share, with 73% payout ratio.

**【President's Update】**
- **Leasing Momentum**: 53% of portfolio rents with escalations; 38% under 10-year leases. Received $329K lump-sum catch-up payment.
- **Q3 Acquisitions**: 47 properties ($42.3M) added 160K sqft, 2.3% portfolio expansion. 19 Q4 acquisitions under contract ($12M).

**【Q&A Highlights】**
- **Newtonville Acquisition**: Off-market, accretive at 7.6% cap rate, with 8.3% in 3 years. Similar opportunities rare but pursued selectively.
- **OP Units Usage**: Used as currency for smaller deals, but complexity limits broader adoption.
- **Cap Rate Outlook**: Targeting 7.5%+; sellers slow to adjust to lower rates.
- **Lease Terms**: Mix of 5- and 10-year leases with escalators; 34% of leases expiring by 2026 offer growth potential.
- **Competition**: Postal Realty leads with 8% market share; competitors vary in scale and focus.

Postal Realty Trust, Inc. (PSTL) Q3 2025 Earnings Call Transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

PSTL

PSTL fundamentals

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