Postal Realty Trust Declares Third Quarter 2024 Dividend

Rhea-AI Summary

Postal Realty Trust (NYSE: PSTL) has declared a quarterly dividend of $0.24 per share on its Class A common stock for the third quarter of 2024. This represents a 1.1% increase from the third quarter 2023 dividend. The dividend will be payable on November 29, 2024 to stockholders of record as of the close of business on November 4, 2024.

Postal Realty Trust is an internally managed real estate investment trust that owns and manages over 2,000 properties leased primarily to the United States Postal Service (USPS). These properties range from last-mile post offices to industrial facilities.

Positive

• Quarterly dividend increased by 1.1% compared to Q3 2023
• Company owns and manages over 2,000 properties leased primarily to USPS

Negative

• None.

Insights

Financial Analyst

The announcement of a 1.1% increase in Postal Realty Trust's quarterly dividend to $0.24 per share is a positive signal for investors. This modest bump in dividend payout indicates the company's confidence in its cash flow and commitment to returning value to shareholders. For a REIT like PSTL, which focuses on properties leased to the USPS, maintaining and growing dividends is important for attracting income-oriented investors.

The dividend yield, based on the current stock price and new quarterly dividend, stands at approximately 7.2%, which is attractive in the current market environment. This yield is particularly noteworthy given the stability of PSTL's primary tenant, the United States Postal Service. The consistent income from government-leased properties provides a solid foundation for the trust's dividend policy.

While the increase is modest, it demonstrates management's prudent approach to capital allocation, balancing growth investments with shareholder returns. Investors should view this as a sign of the company's financial health and positive outlook for its niche real estate portfolio focused on postal facilities.

CEDARHURST, N.Y., Oct. 22, 2024 (GLOBE NEWSWIRE) -- Postal Realty Trust, Inc. (NYSE: PSTL) (the “Company”), an internally managed real estate investment trust that owns and manages over 2,000 properties leased primarily to the United States Postal Service (the “USPS”), ranging from last-mile post offices to industrial facilities, announced today that its board of directors has approved a quarterly dividend on the Company’s Class A common stock in the amount of $0.24 per share. This represents a 1.1% increase from the third quarter 2023 dividend. The dividend will be payable on November 29, 2024 to stockholders of record as of the close of business on November 4, 2024.

About Postal Realty Trust, Inc.

Postal Realty Trust, Inc. is an internally managed real estate investment trust that owns and manages over 2,000 properties leased primarily to the USPS. More information is available at postalrealtytrust.com.

Forward-Looking and Cautionary Statements

This press release contains “forward-looking statements.” Forward-looking statements include statements that are based on various assumptions (some of which are beyond the Company’s control) and may be identified by words such as “could,” “may,” “might,” “will,” “likely,” “anticipates,” “intends,” “plans,” “seeks,” “believes,” “estimates,” “expects,” “continues,” “projects” and similar references to future periods, or by the inclusion of forecasts or projections. Forward-looking statements are based on the Company’s current expectations and assumptions regarding capital market conditions the Company’s business, the economy and other future conditions. Because forward-looking statements relate to the future, by their nature, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. As a result, the Company’s actual results may differ materially from those contemplated by the forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include the USPS’s terminations or non-renewals of leases, changes in demand for postal services delivered by the USPS, the solvency and financial health of the USPS, competitive, financial market and regulatory conditions, general real estate market conditions, the Company’s competitive environment and other factors set forth under “Risk Factors” in the Company’s filings with the Securities and Exchange Commission. Any forward-looking statement made in this press release speaks only as of the date on which it is made. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.

Contact:
Investor Relations and Media Relations
Email: Investorrelations@postalrealtytrust.com
Phone: (516) 232-8900

FAQ

What is the Q3 2024 dividend amount for Postal Realty Trust (PSTL)?

Postal Realty Trust (PSTL) has declared a quarterly dividend of $0.24 per share for the third quarter of 2024.

When will Postal Realty Trust (PSTL) pay its Q3 2024 dividend?

Postal Realty Trust (PSTL) will pay its Q3 2024 dividend on November 29, 2024 to stockholders of record as of November 4, 2024.

How much has Postal Realty Trust (PSTL) increased its dividend compared to Q3 2023?

Postal Realty Trust (PSTL) has increased its quarterly dividend by 1.1% compared to the third quarter of 2023.

How many properties does Postal Realty Trust (PSTL) own and manage?

Postal Realty Trust (PSTL) owns and manages over 2,000 properties leased primarily to the United States Postal Service.