CEDARHURST, N.Y. (AP) — CEDARHURST, N.Y. (AP) — Postal Realty Trust, Inc. (PSTL) on Tuesday reported a key measure of profitability in its fourth quarter.
The Cedarhurst, New York-based real estate investment trust said it had funds from operations of $11.1 million, or 33 cents per share, in the period.
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 $4.6 million, or 15 cents per share.
Postal Realty Trust, based in Cedarhurst, New York, posted revenue of $26 million in the period, which beat Street forecasts. Three analysts surveyed by Zacks expected $25 million.
For the year, the company reported funds from operations of $42.1 million. Revenue was reported as $95.8 million.
Postal Realty Trust expects full-year funds from operations in the range of $1.39 to $1.41 per share.
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