Postal Realty Trust, Inc. (NYSE:PSTL – Get Free Report) was the target of a significant drop in short interest in February. As of February 28th, there was short interest totalling 199,400 shares, a drop of 50.2% from the February 13th total of 400,700 shares. Based on an average daily trading volume, of 170,000 shares, the days-to-cover ratio is currently 1.2 days. Approximately 1.0% of the company’s stock are short sold.
Insider Activity at Postal Realty Trust
In other news, CEO Andrew Spodek bought 7,968 shares of the firm’s stock in a transaction that occurred on Thursday, December 19th. The stock was acquired at an average cost of $13.00 per share, with a total value of $103,584.00. Following the completion of the purchase, the chief executive officer now owns 277,518 shares of the company’s stock, valued at $3,607,734. This represents a 2.96 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 13.60% of the stock is owned by company insiders.
Institutional Investors Weigh In On Postal Realty Trust
A number of institutional investors have recently made changes to their positions in PSTL. Quadrant Capital Group LLC bought a new position in shares of Postal Realty Trust during the fourth quarter worth approximately $25,000. New York State Teachers Retirement System bought a new position in Postal Realty Trust during the 4th quarter worth $26,000. PNC Financial Services Group Inc. lifted its holdings in shares of Postal Realty Trust by 42.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,703 shares of the company’s stock worth $74,000 after buying an additional 1,701 shares in the last quarter. BNP Paribas Financial Markets boosted its position in shares of Postal Realty Trust by 45.2% in the fourth quarter. BNP Paribas Financial Markets now owns 8,744 shares of the company’s stock valued at $114,000 after acquiring an additional 2,720 shares during the period. Finally, Resona Asset Management Co. Ltd. acquired a new position in shares of Postal Realty Trust in the fourth quarter valued at about $116,000. Institutional investors own 57.89% of the company’s stock.
Postal Realty Trust Stock Performance
Postal Realty Trust Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were given a dividend of $0.2425 per share. The ex-dividend date was Friday, February 14th. This is an increase from Postal Realty Trust’s previous quarterly dividend of $0.24. This represents a $0.97 annualized dividend and a yield of 6.81%. Postal Realty Trust’s dividend payout ratio (DPR) is 461.90%.
Postal Realty Trust Company Profile
Postal Realty Trust, Inc (NYSE: PSTL) is an internally managed real estate investment trust that owns properties primarily leased to the United States Postal Service ("USPS"). PSTL is focused on acquiring the network of USPS properties, which provide a critical element of the nation's logistics infrastructure that facilitates cost effective and efficient last-mile delivery solutions.
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