Postal Realty Trust, Inc. (PSTL) Form 8-K — Nov 3, 2026
Postal Realty Trust reported strong third quarter 2026 results, with net income of $0.16 per diluted share, AFFO of $0.36 per diluted share (up 9.1% year-over-year), and rental income growth of 25.2% from the prior-year quarter. The company acquired 145 USPS properties for $82.0 million during the quarter at a ~6.9% weighted average cash cap rate. Management raised 2026 guidance, increasing AFFO per share by $0.01 to $1.42-$1.44 and acquisition volume by $37.5 million at the midpoint to $185-$200 million, and announced it achieved a BBB investment grade rating from Fitch. CEO Andrew Spodek cited a robust pipeline, over $340 million of liquidity, and record acquisition volume.
Key figures
- Eps
- $0.16 diluted
- Revenue
- $30.3 million (Q3 2026 total revenues)
- Guidance
- AFFO per diluted share $1.42-$1.44 (raised $0.01, ~8.3% growth at midpoint Y/Y); acquisition volume $185-$200 million (raised $37.5 million at midpoint); Same Store Cash NOI growth 6.0%-7.0%; Cash G&A $11.5-$12.5 million
- Net Income
- $5.6 million attributable to common shareholders (Q3 2026)
- Total Debt
- approximately $387 million of net debt
- Revenue Yoy
- +25.2% rental income growth Q3 2026 vs Q3 2025
- Cash Position
- $2.2 million of cash and property-related reserves
- Shares Outstanding
- 33,460,576 Class A shares as of September 30, 2026
- Q3 acquisitions
- 145 USPS properties for $82.0 million at ~6.9% weighted average cash cap rate
- Quarterly dividend
- $0.245 per share ($0.98 annualized)
- Atm equity issuance
- approximately 3.3 million shares for $72.2 million net proceeds in Q3; $116.9 million net equity sales since Q2
- Portfolio occupancy
- 99.8%
- Ffo per diluted share
- $0.36
- Affo per diluted share
- $0.36 (+9.1% Y/Y)
- Unsettled forward equity
- 3.6 million shares, approximately $82.5 million expected net proceeds
- Pro forma net debt to run rate ebitda
- 3.5x
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