CEDARHURST, N.Y. (AP) — CEDARHURST, N.Y. (AP) — Postal Realty Trust, Inc. (PSTL) on Tuesday reported a key measure of profitability in its first quarter.
The Cedarhurst, New York-based real estate investment trust said it had funds from operations of $11.6 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 $3.8 million, or 11 cents per share.
Postal Realty Trust, based in Cedarhurst, New York, posted revenue of $26.6 million in the period.
Postal Realty Trust expects full-year funds from operations in the range of $1.40 to $1.42 per share.
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