Core Insights - Postal Realty Trust, Inc. has increased its 2025 Adjusted Funds from Operations (AFFO) guidance by $0.04 to a range of $1.24 to $1.26 per diluted share [1][13] - The company acquired 68 properties leased to the USPS for approximately $35.9 million at a weighted average capitalization rate of 7.8% [1][5] - The company raised $12.8 million from its at-the-market (ATM) equity offering program during the second quarter to fund acquisitions [1] Financial Performance - The company reported a 29% growth in revenues from the second quarter of 2024 to the second quarter of 2025, with total revenues of $23.4 million [10] - Net income attributable to common shareholders was $3.6 million, or $0.12 per diluted share [10] - Funds from Operations (FFO) for the quarter were $10.8 million, or $0.35 per diluted share, while Adjusted Funds from Operations (AFFO) were $10.4 million, or $0.33 per diluted share [10][27] Property Portfolio & Acquisitions - The company's owned portfolio was 99.8% occupied, consisting of 1,806 properties across 49 states and one territory, with approximately 6.8 million net leasable interior square feet [4] - The weighted average rental rate for the portfolio was $11.11 per leasable square foot, with $13.24 for last-mile and flex properties and $4.14 for industrial properties [4] - In addition to the 68 properties acquired, the company announced the acquisition of 23 more properties for approximately $8.4 million subsequent to the quarter end [12] Leasing Activity - As of July 18, 2025, the company received 161 fully executed new leases from the USPS for leases expiring in 2025, with a total lump sum catch-up payment of approximately $0.2 million [6] Balance Sheet & Capital Markets - As of June 30, 2025, the company had approximately $2.0 million in cash and property-related reserves, with net debt of approximately $328 million at a weighted average interest rate of 4.51% [7] - 86% of the company's outstanding debt was at fixed rates, and $104 million of its revolving credit facility was undrawn [7] Dividend Announcement - The company announced a quarterly dividend of $0.2425 per share, equating to an annualized rate of $0.97 per share, payable on August 29, 2025 [11]
Postal Realty Trust, Inc. Reports Second Quarter 2025 Results