CEDARHURST, N.Y. (AP) — CEDARHURST, N.Y. (AP) — Postal Realty Trust, Inc. (PSTL) on Tuesday reported a key measure of profitability in its third quarter. The results beat Wall Street expectations.
The real estate investment trust, based in Cedarhurst, New York, said it had funds from operations of $10.8 million, or 33 cents per share, in the period.
The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations of 31 cents per share.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $3.8 million, or 13 cents per share.
Postal Realty Trust, based in Cedarhurst, New York, posted revenue of $24.3 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $24.1 million.
Postal Realty Trust expects full-year funds from operations in the range of $1.30 to $1.32 per share.
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