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Postal Realty: 3Q Earnings Snapshot

·1 min read

CEDARHURST, N.Y. (AP) _ Postal Realty Trust, Inc. (PSTL) on Tuesday reported a key measure of profitability in its third quarter. The results topped Wall Street expectations.

The Cedarhurst, New York-based real estate investment trust said it had funds from operations of $2.8 million, or 24 cents per share, in the period.

The average estimate of three analysts surveyed by Zacks Investment Research was for funds from operations of 22 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 a loss of $15,000, or 1 cent per share.

Postal Realty, based in Cedarhurst, New York, posted revenue of $6.3 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $5.8 million.

The company's shares have dropped 13% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $14.70, a decrease of 10% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PSTL at https://www.zacks.com/ap/PSTL