Postal Realty Trust(US:PSTL)2025-05-01 00:14Financial Performance - The company reported a 28% growth in revenues from Q1 2024 to Q1 2025, totaling $22.15 million[6]. - Net income attributable to common shareholders was $2.1 million, or $0.06 per diluted share[6]. - Funds from Operations (FFO) were $8.4 million, or $0.28 per diluted share, while Adjusted Funds from Operations (AFFO) were $9.8 million, or $0.32 per diluted share[6]. - Net income for the three months ended March 31, 2025, was $2,655 thousand, with Funds From Operations (FFO) reported at $8,366 thousand[31]. - Adjusted Funds From Operations (AFFO) reached $9,808 thousand, with AFFO per common share at $0.32[31]. - 2025 guidance for AFFO per diluted share is projected to be between $1.20 and $1.22[12]. Property Acquisitions - The company acquired 36 USPS properties for approximately $15.8 million at a weighted average capitalization rate of 7.6%[6][4]. - Subsequent to the quarter end, the company acquired 25 properties for approximately $12.7 million, with another 35 properties under definitive contracts totaling approximately $21.6 million[11]. Portfolio and Occupancy - The property portfolio was 99.8% occupied, with a weighted average rental rate of $10.90 per leasable square foot[3]. - The company has agreed to new lease terms with the USPS for 2025 and 2026, which include 3% annual escalations[6]. Debt and Liabilities - As of March 31, 2025, the company had approximately $307 million of net debt with a weighted average interest rate of 4.41%[8]. - Total liabilities rose to $339,113 thousand as of March 31, 2025, compared to $329,320 thousand at the end of 2024, indicating an increase of about 2.39%[29]. Equity and Assets - Total assets increased to $654,018 thousand as of March 31, 2025, up from $646,818 thousand at December 31, 2024, representing a growth of approximately 1.85%[29]. - The company reported a total stockholders' equity of $245,479 thousand, down from $251,285 thousand, reflecting a decrease of approximately 2.30%[29]. Cash and Reserves - Cash reserves decreased to $639 thousand from $1,799 thousand, a decline of about 64.53%[29]. Expenses and Charges - The company incurred impairment charges of $65 thousand and a loss on the sale of real estate assets amounting to $49 thousand during the quarter[31]. - Depreciation and amortization of real estate assets totaled $5,597 thousand for the three months ended March 31, 2025[31]. - The company reported acquisition-related and other expenses of $122 thousand during the quarter[31]. Dividends - The company declared a quarterly dividend of $0.2425 per share, equating to $0.97 on an annualized basis[10]. Shares Outstanding - The weighted average common shares and common units outstanding were 30,293,528 for the period[31].