Loading...
•
Mar 31, 2020
Postal Realty Trust Q1 2020 Earnings Report
Reported first quarter results with increased rental income and dividend.
Key Takeaways
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.
Forward Guidance
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.
Positive Outlook
- Anticipates long-term growth in cash flows.
- Expects continued growth in dividends.
- Confident in 2020 targets.
- USPS portfolio performed as anticipated with 100% rent collection.
- Expects to resume growth plan as the nation reopens for business.
Challenges Ahead
- Ability to complete acquisitions in the near-term may be delayed.
- Dislocation and government imposed travel related limitations due to the pandemic may impact acquisitions.
- Uncertainties related to the COVID-19 pandemic.
- Potential delays in closing pending transactions.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...