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Dec 31, 2022
Postal Realty Trust Q4 2022 Earnings Report
Postal Realty Trust reported strong Q4 2022 results, marked by strategic acquisitions and dividend increase.
Key Takeaways
Postal Realty Trust reported its Q4 and year-end 2022 results, featuring the acquisition of 54 USPS properties for $20.2 million during the quarter and a dividend increase for the fourteenth consecutive quarter. The company collected 100% of contractual rents and maintained a high occupancy rate of 99.7%.
Acquired 54 USPS properties for $20.2 million in Q4 2022.
Net income attributable to common shareholders was $1.4 million, or $0.06 per diluted share.
Funds from Operations (FFO) was $6.4 million, or $0.27 per diluted share.
Adjusted Funds from Operations (AFFO) was $6.6 million, or $0.28 per diluted share.
Forward Guidance
Postal Realty Trust anticipates lighter transaction volume in the first half of 2023 due to price expectation adjustments between buyers and sellers, but expects acquisitions to ramp up in the second half of the year. The company is focused on acquiring properties at attractive cap rates and believes it is well-positioned operationally and financially to pursue opportunities in the fragmented post office market.
Positive Outlook
- Company expects acquisitions will ramp up in the second half of 2023.
- Company is in an optimal position operationally and financially.
- Company is focusing on acquiring properties at attractive cap rates.
- Company will continue to take a measured approach, being patient and judicious.
- Acquisition opportunity remains robust with significant capacity for future growth.
Challenges Ahead
- Challenging capital market and macroeconomic environment.
- May lead to lighter transaction volume in the first half of the year.
- Buyers and sellers continue to adjust price expectations.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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