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Postal Realty Trust (PSTL) investor relations material
Postal Realty Trust 17th Annual Southwest IDEAS Conference summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.17th Annual Southwest IDEAS Conference summary19 Nov, 2025
Business overview and market context
Operates nearly 2,000 postal-leased properties in 49 states, with a 99% retention rate over 10+ years.
Postal Service leases 23,000 of 32,000 properties nationwide, with $1.4 billion in annual rent payments; market size estimated at $12–$15 billion.
Typical property owners are older, long-term holders; most sales occur due to life events or estate planning.
Largest owner in the sector, holding 8–9% of the market; only public company focused on postal real estate.
75% of acquisitions are off-market, leveraging reputation and unique operating partnership units as acquisition currency.
Growth strategy and financial performance
Enterprise value has grown from $150 million (271 properties) to $900 million (about 2,000 properties) in six years.
On track for $110 million in acquisitions this year at or above a 7.5% cap rate.
Guidance for 2024: 8.5–9.5% same-store NOI growth and 12–13% earnings growth.
Internal growth driven by renegotiating leases, adding annual escalators, and extending lease terms.
53% of portfolio now has 3% annual escalators; 37–38% of leases have 10-year terms.
Competitive landscape and acquisition approach
Next 20 largest owners collectively hold about 12% of the market; most are not active acquirers.
Private equity has participated but is not a long-term player; institutional knowledge is a key advantage.
Most deals are sourced off-market due to longstanding relationships and reputation.
Operating partnership units (OP units) enable tax-deferred exchanges, appealing to sellers for estate planning.
OP unit strategy: What's its future impact on deal flow
Lease renegotiation: What's the remaining upside
Beyond USPS: How does the 'last mile' thesis evolve
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Next Postal Realty Trust earnings date
Q4 202527 Feb, 2026
Next Postal Realty Trust earnings date
Q4 202527 Feb, 2026
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Frequently asked questions
Postal Realty Trust Inc. is a real estate investment trust (REIT) focused on owning and managing properties leased to the United States Postal Service (USPS). The company’s portfolio includes properties such as post offices, distribution centers, and other facilities critical to postal operations. Postal Realty Trust aims to generate stable income through long-term leases with the USPS and strategic acquisitions of additional properties. It is headquartered in Cedarhurst, New York, and its shares are listed on the NYSE.
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