|Bid||14.35 x 800|
|Ask||14.44 x 800|
|Day's Range||14.26 - 14.80|
|52 Week Range||14.26 - 17.37|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Postal Realty Trust Inc (NYSE: PSTL ) is a real estate investment trust that manages and owns properties leased to the U.S. Postal Service. The Analyst Stifel's Stephen Manaker initiated coverage of Postal ...
Shares of Postal Realty Trust Inc. opened in line with the pricing of its initial public offering, then rose slightly in their public debut. The first trade was at $17 at 9:39 a.m. Eastern, matching the $17 IPO price. The stock has since traded in a range of $16.80 to $17.37, and was last 0.5% above its IPO price. The real estate investment trust, which owns and manages properties that are leased to the U.S. Postal Service, sold 4.5 million shares in the IPO to raise $76.5 million. The REIT went public at a time that the Renaissance IPO ETF has rallied 31.3% year to date, while the SPDR Real Estate Select Sector ETF has advanced 17.4% and the S&P 500 has gained 13.4%.
Postal Realty Trust Inc. , a REIT that owns and manages properties that are leased to the U.S. Postal service, said Wednesday it has priced its initial public offering at $17 a share. The company sold 4.5 million shares to raise $76.5 million. The underwriters have the option to buy an additional 675,000 shares. The stock is expected to start trading later Wednesday on the New York Stock Exchange, under the ticker symbol "PSTL." Proceeds of the deal will be used to acquire properties, repay mortgage debt and for general corporate purposes, including working capital and potential acquisitions.
The Street sees challenges in the U.S. Postal Service, but this REIT sees an opportunity, and it’s inviting investors to buy in. The IPO Postal Realty Trust, Inc. will issue 5 million shares on the New ...