Postal Realty Trust reported a strong first quarter, marked by a 37% increase in rental income and an 18% increase in the quarterly dividend. The company acquired 83 USPS properties for $30.5 million and collected 100% of rents in March and April, despite the COVID-19 pandemic.
Acquired 83 USPS properties for $30.5 million during the quarter.
Rental income increased by 37% quarter-over-quarter.
Quarterly dividend increased by 18% to $0.20 per share.
Portfolio is 100% occupied as of May 14, 2020.
The company anticipates long-term growth in cash flows and dividends through portfolio scaling. They remain confident in their 2020 targets, although near-term acquisitions may be delayed due to pandemic-related travel limitations. They expect to resume their growth plan as the nation reopens.
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