Postal Realty Trust reported fourth‑quarter revenue of $26 million, up 27.6% from the $20.1 million of the prior year, and earnings per share of $0.15, a 50% beat over the consensus estimate of $0.10. Adjusted funds from operations (AFFO) per share rose to $0.33, bringing the full‑year AFFO to $1.32, a 13.8% increase from the previous year’s $1.16. Same‑store cash net operating income grew 8.9% in 2025, underscoring the strength of the company’s core portfolio.
The company expanded its portfolio by 20%, adding 216 USPS‑leased properties for $123.1 million during 2025. Occupancy remained high at 99.8% across 1,917 properties, and the company’s credit facility was expanded by $115 million to $555 million. An at‑the‑market equity program raised $44.2 million, providing additional capital for future acquisitions.
"In 2025, we exceeded expectations across the business, driven by the durability of our portfolio and our differentiated business model. Our success acquiring high‑quality postal properties last year increased the size of our portfolio by 20%, growth that was supported by the systems and technology investments we've made," said CEO Andrew Spodek. "AFFO per share of $0.33 for the fourth quarter of 2025, bringing full year AFFO per share to $1.32. This was at the high end of our most recent guidance and represents growth of 13.8% for the year," added CFO Stephen Bakke. "Our disciplined approach to capital allocation and cost management has positioned us well for continued growth in 2026," said CFO Jeremy Garber. President Jeremy Garber noted, "As of today, we have executed all new leases for properties that expired in 2025, except for 5 properties acquired during 2025 and 1 acquired in holdover status during 2026."
Postal Realty Trust raised its 2026 AFFO guidance to $1.39–$1.41 per diluted share and its acquisition volume guidance to $115–$125 million, signaling confidence in continued portfolio growth and cash‑flow stability. The guidance increase reflects the company’s ability to generate strong cash flows from a highly occupied, long‑term lease portfolio and its disciplined capital allocation strategy.
Investors responded positively to the earnings beat and the upward revision of guidance, reflecting confidence in the company’s execution and the resilience of its USPS‑leased portfolio.
The results demonstrate that Postal Realty Trust’s focus on high‑quality, long‑term leases to a single, essential tenant continues to deliver predictable cash flows. The 8.9% same‑store NOI growth, coupled with a 20% portfolio expansion and a 99.8% occupancy rate, indicates that the company is effectively scaling while maintaining a strong balance sheet. The credit facility expansion and equity issuance provide flexibility to pursue additional acquisitions, positioning the company to capitalize on future opportunities in the postal logistics space.
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