Postal Realty Trust (NYSE:PSTL) announced a quarterly dividend on Thursday, July 30th, Zacks reports. Investors of record on Friday, August 14th will be paid a dividend of 0.205 per share on Monday, August 31st. This represents a $0.82 annualized dividend and a yield of 5.58%. The ex-dividend date is Thursday, August 13th. This is an increase from Postal Realty Trust’s previous quarterly dividend of $0.20.
Postal Realty Trust has a dividend payout ratio of -222.2% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Postal Realty Trust to earn $1.10 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 72.7%.
PSTL traded up $0.02 during trading hours on Friday, hitting $14.70. 672 shares of the company’s stock were exchanged, compared to its average volume of 164,216. Postal Realty Trust has a 12-month low of $10.84 and a 12-month high of $19.48. The firm has a 50 day moving average of $15.11 and a 200 day moving average of $15.58. The firm has a market cap of $79.77 million, a P/E ratio of -33.45 and a beta of 0.09.
A number of equities research analysts have commented on the stock. Zacks Investment Research downgraded shares of Postal Realty Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, July 22nd. BTIG Research assumed coverage on shares of Postal Realty Trust in a research report on Thursday, June 4th. They issued a “buy” rating and a $19.00 price objective on the stock. Finally, B. Riley increased their price objective on shares of Postal Realty Trust from $18.50 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, May 20th.
In other Postal Realty Trust news, CEO Andrew Spodek purchased 3,195 shares of the firm’s stock in a transaction that occurred on Wednesday, July 15th. The stock was purchased at an average price of $13.75 per share, for a total transaction of $43,931.25. Following the purchase, the chief executive officer now directly owns 637,058 shares in the company, valued at $8,759,547.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 28.90% of the stock is owned by corporate insiders.
Postal Realty Trust Company Profile
Postal Realty Trust, Inc is an internally managed real estate investment trust that will own and manage properties leased to the United States Postal Service, or USPS. Upon completion of the offering and related formation transactions, the Company will own and manage an initial portfolio of 271 postal properties located in 41 states comprising 871,843 net leasable interior square feet, all of which are leased to the USPS, and through its taxable REIT subsidiary will provide fee-based third party property management services for an additional 404 postal properties leased to the USPS and owned by family members of Andrew Spodek, the Company's chief executive officer, and their partners.
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