Postal Realty Trust, Inc. Provides Fourth Quarter and Full Year 2024 Update

Core Insights - Postal Realty Trust, Inc. has made significant acquisitions and leasing progress, maintaining a strong relationship with the USPS despite external challenges [4][6]. Acquisitions - In 2024, the Company acquired 197 properties leased to the USPS for approximately $91 million, totaling about 571,000 net leasable square feet at a weighted average capitalization rate of 7.6$30.7 million, comprising about 176,000 net leasable square feet at a capitalization rate of 7.5% [5]. Leasing Activity - As of December 31, 2024, the Company executed 88 new leases representing 85% of the aggregate 2023 expired rent and 118 new leases representing 95% of the aggregate 2024 expired rent [3]. - 9% of the leases in the portfolio are ten-year leases, and 27% include annual rent escalations of 3% [3][4]. Portfolio and Occupancy - The Company's portfolio was 99.6% occupied, consisting of 1,703 properties across 49 states and one territory, with approximately 6.4 million net leasable square feet [6]. - The weighted average rental rate was $10.60 per occupied leasable square foot, with$12.81 for last-mile and flex properties and $3.83 for industrial properties [6]. Financial Position - At the end of 2024, 95$10 million on a term loan, fixing the interest rate at 5.55% through February 2028 [7]. Shareholder Activity - The Company issued 185,445 shares of common stock at an average gross sales price of $14.57 per share during the quarter [9]. - As of December 31, 2024, there were 29,924,517 fully diluted shares outstanding [10].