POSTAL REALTY TRUST INC CLASS A (PSTL)
Real Estate · Triple-net / net-lease REIT with government tenant focus · NYSE
The largest owner and manager of USPS-leased postal properties, generating predictable cash flows from a consolidated network of last-mile facilities across 49 states.
What POSTAL REALTY TRUST INC CLASS A does
Postal Realty Trust is an internally managed REIT that acquires and manages real estate properties leased primarily to the United States Postal Service (USPS), ranging from last-mile post offices to industrial facilities. As of December 31, 2025, the company owned approximately 1,917 properties across 49 states with 7.1 million net leasable square feet and 99.8% occupancy. The company operates through an UPREIT structure and pursues a consolidation strategy to consolidate postal properties in the USPS logistics network. Most leases are modified double-net leases where USPS covers utilities, maintenance, and property taxes, while the landlord covers insurance, roof, and structural costs, providing predictable cash flows.
Themes: ["Government-leased properties / USPS tenant","Postal logistics and last-mile infrastructure","Real estate consolidation","Long-term net leases","Predictable recurring revenue"]
Fundamentals
- Price$24.22 as of 2026-07-09 close
- Market cap$808M as of 2026-07-10
- 1-year return+64.5% as of 2026-07-09 close
- P/E50.81 as of 2026-07-10
- Net margin+15.8% as of 2026-07-10
- Gross margin+78.3% as of 2026-07-10
- ROE+5.8% as of 2026-07-10
- Debt / equity1.32 as of 2026-07-10
- Revenue growth (YoY)+23.5% as of 2026-07-10
- Revenue CAGR (3y)+21.6% SEC XBRL
- Beta0.79 as of 2026-07-10
Dividend: yield +4.0%; 5-year non-decreasing per-share dividend streak (SEC XBRL).
Key risks (from latest filing)
["Concentrated tenant risk: approximately 99%+ of revenue derived from single tenant (USPS), creating vulnerability to USPS financial conditions, operational changes, or lease terminations","Refinancing risk: company has debt maturing through 2030 (term loans, revolving credit facilities) that require renewal in a potentially adverse interest rate environment","Regulatory and policy risk: subject to USPS operational and service level decisions, postal reform legislation, and government budget appropriations affecting USPS' ability to sustain operations or modify lease terms"]
Competitors & peers
- W.P. Carey (WPC)
- Spirit Realty Capital (SRC)
- Realty Income (O)
- National Retail Properties (NRP)
Fundamentals: Finnhub, as of 2026-07-10. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-07-09.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & Finnhub, shown with their as-of date.