Postal Realty Trust (PSTL)
Market Price (11/6/2026): $21.59 | Market Cap: $723.3 MilSector: Real Estate | Industry: Office REITs
Postal Realty Trust (PSTL)
Market Price (11/6/2026): $21.59Market Cap: $723.3 MilSector: Real EstateIndustry: Office REITs
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 8.2%, Dividend Yield is 5.3%, FCF Yield is 7.1% Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 22% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 44%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 41% Low stock price volatilityVol 12M is 24% Megatrend and thematic driversMegatrends include E-commerce Logistics & Data Centers, E-commerce & Digital Retail, and E-commerce & DTC Adoption. Themes include E-commerce Logistics REITs, Show more. | Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 13% | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 58% Significant short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 17.96 Key risksPSTL key risks include [1] an extreme tenant concentration with the United States Postal Service (USPS), Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 8.2%, Dividend Yield is 5.3%, FCF Yield is 7.1% |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 22% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 44%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 41% |
| Low stock price volatilityVol 12M is 24% |
| Megatrend and thematic driversMegatrends include E-commerce Logistics & Data Centers, E-commerce & Digital Retail, and E-commerce & DTC Adoption. Themes include E-commerce Logistics REITs, Show more. |
| Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 13% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 58% |
| Significant short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 17.96 |
| Key risksPSTL key risks include [1] an extreme tenant concentration with the United States Postal Service (USPS), Show more. |
Qualitative Assessment
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Postal Realty Trust (PSTL) stock has lost about 5% since 7/31/2026 because of the following key factors:
1. Third Quarter 2026 Earnings Per Share Missed Analyst Estimates. Postal Realty Trust reported diluted earnings per share (EPS) of $0.16 for fiscal Q3 2026, which ended on September 30, 2026. This fell short of analyst consensus estimates, which ranged from $0.19 to $0.20 per share, despite the company exceeding revenue expectations and meeting Adjusted Funds From Operations (AFFO) per share estimates of $0.36.
2. Rising Interest Rates and Macroeconomic Headwinds Impacted REIT Sector. During fiscal Q3 2026, the Federal Reserve raised its policy interest rate by 25 basis points in mid-September 2026, pushing the target range to 3.75%-4.00%. Concurrently, the 10-year U.S. Treasury yield rose significantly, reaching approximately 5.3% by the end of the quarter, its highest level since 2002. These rising rates increase borrowing costs for REITs like Postal Realty Trust and make their dividend yields less attractive compared to higher-yielding fixed-income alternatives, creating a challenging environment for the real estate sector.
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Postal Realty Trust (PSTL) stock has lost about 5% since 7/31/2026 because of the following key factors:
1. Third Quarter 2026 Earnings Per Share Missed Analyst Estimates. Postal Realty Trust reported diluted earnings per share (EPS) of $0.16 for fiscal Q3 2026, which ended on September 30, 2026. This fell short of analyst consensus estimates, which ranged from $0.19 to $0.20 per share, despite the company exceeding revenue expectations and meeting Adjusted Funds From Operations (AFFO) per share estimates of $0.36.
2. Rising Interest Rates and Macroeconomic Headwinds Impacted REIT Sector. During fiscal Q3 2026, the Federal Reserve raised its policy interest rate by 25 basis points in mid-September 2026, pushing the target range to 3.75%-4.00%. Concurrently, the 10-year U.S. Treasury yield rose significantly, reaching approximately 5.3% by the end of the quarter, its highest level since 2002. These rising rates increase borrowing costs for REITs like Postal Realty Trust and make their dividend yields less attractive compared to higher-yielding fixed-income alternatives, creating a challenging environment for the real estate sector.
3. High Dividend Payout Ratio Raises Sustainability Concerns. While Postal Realty Trust declared a quarterly dividend of $0.245 per share, representing a 1.0% increase from the prior year, its dividend payout ratio stood at a high level, estimated at 178% to 181.48%. This elevated payout ratio, particularly in a rising interest rate environment which increases the cost of capital, can lead to investor concerns regarding the long-term sustainability of the dividend and the company's financial flexibility.
4. Dilution from At-The-Market (ATM) Equity Program. Postal Realty Trust continued to utilize its At-The-Market (ATM) equity program, selling approximately 3.3 million shares and generating $116.9 million in net equity proceeds since fiscal Q2 2026. While these funds support the company's acquisition strategy, including the $82.0 million acquisition of 145 USPS properties in fiscal Q3 2026, the issuance of new shares can dilute the ownership percentage and per-share metrics for existing shareholders.
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Stock Movement Drivers
Fundamental Drivers
The -5.2% change in PSTL stock from 7/31/2026 to 11/5/2026 was primarily driven by a -11.7% change in the company's P/E Multiple.| (LTM values as of) | 7312026 | 11052026 | Change |
|---|---|---|---|
| Stock Price ($) | 22.80 | 21.61 | -5.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 100 | 112 | 11.1% |
| Net Income Margin (%) | 15.8% | 17.2% | 8.3% |
| P/E Multiple | 38.8 | 34.3 | -11.7% |
| Shares Outstanding (Mil) | 27 | 30 | -10.8% |
| Cumulative Contribution | -5.2% |
Market Drivers
7/31/2026 to 11/5/2026| Return | Correlation | |
|---|---|---|
| PSTL | -5.2% | |
| Market (SPY) | -1.9% | 20.9% |
| Sector (XLRE) | -1.7% | 65.0% |
Fundamental Drivers
The 0.9% change in PSTL stock from 4/30/2026 to 11/5/2026 was primarily driven by a 16.4% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 4302026 | 11052026 | Change |
|---|---|---|---|
| Stock Price ($) | 21.42 | 21.61 | 0.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 96 | 112 | 16.4% |
| Net Income Margin (%) | 14.8% | 17.2% | 16.2% |
| P/E Multiple | 39.3 | 34.3 | -12.8% |
| Shares Outstanding (Mil) | 26 | 30 | -14.4% |
| Cumulative Contribution | 0.9% |
Market Drivers
4/30/2026 to 11/5/2026| Return | Correlation | |
|---|---|---|
| PSTL | 0.9% | |
| Market (SPY) | 2.3% | 16.4% |
| Sector (XLRE) | 0.6% | 66.9% |
Fundamental Drivers
The 53.5% change in PSTL stock from 10/31/2025 to 11/5/2026 was primarily driven by a 31.7% change in the company's Net Income Margin (%).| (LTM values as of) | 10312025 | 11052026 | Change |
|---|---|---|---|
| Stock Price ($) | 14.08 | 21.61 | 53.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 87 | 112 | 28.9% |
| Net Income Margin (%) | 13.0% | 17.2% | 31.7% |
| P/E Multiple | 29.4 | 34.3 | 16.8% |
| Shares Outstanding (Mil) | 24 | 30 | -22.5% |
| Cumulative Contribution | 53.5% |
Market Drivers
10/31/2025 to 11/5/2026| Return | Correlation | |
|---|---|---|
| PSTL | 53.5% | |
| Market (SPY) | 8.4% | 15.5% |
| Sector (XLRE) | 11.2% | 58.4% |
Fundamental Drivers
The 94.0% change in PSTL stock from 10/31/2023 to 11/5/2026 was primarily driven by a 170.9% change in the company's Net Income Margin (%).| (LTM values as of) | 10312023 | 11052026 | Change |
|---|---|---|---|
| Stock Price ($) | 11.14 | 21.61 | 94.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 62 | 112 | 81.0% |
| Net Income Margin (%) | 6.3% | 17.2% | 170.9% |
| P/E Multiple | 57.9 | 34.3 | -40.8% |
| Shares Outstanding (Mil) | 20 | 30 | -33.2% |
| Cumulative Contribution | 94.0% |
Market Drivers
10/31/2023 to 11/5/2026| Return | Correlation | |
|---|---|---|
| PSTL | 94.0% | |
| Market (SPY) | 81.3% | 22.9% |
| Sector (XLRE) | 47.1% | 55.6% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| PSTL Return | 23% | -22% | 7% | -4% | 33% | 39% | 80% |
| Peers Return | 12% | -36% | -17% | -47% | -49% | 3180% | 426% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 12% | 105% |
Monthly Win Rates [3] | |||||||
| PSTL Win Rate | 67% | 33% | 58% | 25% | 67% | 64% | |
| Peers Win Rate | 67% | 33% | 58% | 33% | 33% | 36% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 45% | |
Max Drawdowns [4] | |||||||
| PSTL Max Drawdown | -16% | -26% | -15% | -12% | -11% | -14% | |
| Peers Max Drawdown | -19% | -44% | -56% | -55% | -56% | -26% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: DEA, OPI.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 11/5/2026 (YTD)
How Low Can It Go
| Event | PSTL | S&P 500 |
|---|---|---|
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -12.1% | -9.5% |
| % Gain to Breakeven | 13.8% | 10.5% |
| Time to Breakeven | 62 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -25.1% | -24.5% |
| % Gain to Breakeven | 33.5% | 32.4% |
| Time to Breakeven | 1165 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -24.4% | -33.7% |
| % Gain to Breakeven | 32.3% | 50.9% |
| Time to Breakeven | 19 days | 140 days |
In The Past
Postal Realty Trust's stock fell -5.0% during the 2025 US Tariff Shock. Such a loss loss requires a 5.2% gain to breakeven.
Preserve Wealth
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Asset Allocation
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| Event | PSTL | S&P 500 |
|---|---|---|
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -25.1% | -24.5% |
| % Gain to Breakeven | 33.5% | 32.4% |
| Time to Breakeven | 1165 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -24.4% | -33.7% |
| % Gain to Breakeven | 32.3% | 50.9% |
| Time to Breakeven | 19 days | 140 days |
In The Past
Postal Realty Trust's stock fell -5.0% during the 2025 US Tariff Shock. Such a loss loss requires a 5.2% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Postal Realty Trust (PSTL)
Postal Realty Trust (PSTL) is a real estate investment trust (REIT) that specializes in owning and managing properties leased exclusively to the United States Postal Service (USPS). The company's business model is centered on acquiring and maintaining a portfolio of commercial real estate facilities, which it then leases out to the USPS, generating rental income from these properties. Essentially, PSTL acts as a landlord whose primary tenant is the U.S. government through its postal service.
The company's core offering involves providing critical operational space to the USPS, managing a vast portfolio of over 1,000 postal properties across the United States. Its services encompass property acquisition, active management, and maintenance of these leased facilities, ensuring they meet the specific requirements of the postal service. PSTL's primary customer is the United States Postal Service, making it a key player in the specialized market of government-leased real estate, and one of the largest owners and managers of postal-leased properties in the country.
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Here are 1-3 brief analogies for Postal Realty Trust (PSTL):
- Realty Income for post offices
- American Tower for post offices
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- Real Estate Leasing: Providing properties, including land and buildings, for lease to the United States Postal Service (USPS).
- Property Management: Overseeing the maintenance, operations, and tenant relations for its portfolio of properties leased to the USPS.
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Postal Realty Trust (PSTL)
Postal Realty Trust's major customer is the United States Postal Service (USPS).
As a government agency, the United States Postal Service does not have a public company symbol.
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Andrew Spodek, Chief Executive Officer
Andrew Spodek is the Chief Executive Officer and a member of the Board of Directors for Postal Realty Trust. He founded and was the CEO of Nationwide Postal Management, Inc. (NPM), the company's predecessor management entity, which was the largest manager of USPS-leased properties in the United States. With over 20 years of experience, Mr. Spodek has focused exclusively on investing in and managing postal properties. Prior to establishing NPM, he directed acquisitions and property management for his family's private real estate investment ventures. The properties he managed formed the basis of Postal Realty Trust when it became a public company in 2019.
Steve Bakke, Executive Vice President, Chief Financial Officer
Steve Bakke was appointed Executive Vice President and Chief Financial Officer of Postal Realty Trust, effective November 5, 2025. Before joining Postal Realty, he served as Senior Vice President of Corporate Finance at Realty Income Corp (NYSE: O), where he was responsible for Capital Markets, Financial Planning & Analysis, and Investor Relations. His career also includes senior positions at Site Centers Corp, Third Avenue Management, and Surveyor Capital.
Jeremy Garber, President, Treasurer and Secretary
Jeremy Garber holds the titles of President, Treasurer, and Secretary for Postal Realty Trust, overseeing the company's financial, operational, and strategic activities. He also served as the Interim Chief Financial Officer before Steve Bakke's appointment.
Matt Brandwein, Senior Vice President and Chief Accounting Officer
Matt Brandwein is the Senior Vice President and Chief Accounting Officer, responsible for Postal Realty Trust's financial reporting. Prior to his current role, he consulted for Postal Group LLC starting in January 2019. From 2012 until 2019, Mr. Brandwein was the Chief Accounting Officer of NorthStar Asset Management Group, Inc. (NYSE: NSAM) until its merger with Colony Capital, Inc. (NYSE: CLNY).
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The key risks to Postal Realty Trust (PSTL) are primarily centered around its deep reliance on a single tenant.
- Overreliance on the United States Postal Service (USPS): Postal Realty Trust generates all of its revenue from properties leased to the USPS, creating a significant concentration risk. This includes vulnerabilities related to the financial health and long-term viability of the USPS itself. Changes in government spending, increased competition from other delivery companies, potential lease non-renewals, and operational shifts such as network restructuring, job cuts, or post office closures could negatively impact PSTL's revenue and Adjusted Funds From Operations (AFFO).
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The United States Postal Service's ongoing network modernization and facility consolidation initiatives, aimed at optimizing its physical footprint, pose an emerging threat by potentially reducing the demand for the types of properties Postal Realty Trust owns and manages. These initiatives could lead to non-renewals or reduced lease terms for some of PSTL's properties.
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Expected Drivers of Future Revenue Growth for Postal Realty Trust (PSTL)
Postal Realty Trust (PSTL) is expected to drive future revenue growth over the next 2-3 years through a combination of strategic acquisitions, the implementation of rent escalations in its leases, and organic growth within its existing property portfolio.
- Strategic Acquisitions of Additional Properties: A primary driver of revenue growth for Postal Realty Trust is its ongoing strategy of acquiring additional properties leased to the United States Postal Service (USPS). The company has a strong track record of expanding its portfolio, with 216 properties acquired in 2025 for approximately $123.1 million, and it has set guidance for $115 million to $125 million in acquisitions for 2026. This continuous consolidation of the highly fragmented postal real estate market directly increases the company's rental income.
- Implementation of Annual Rent Escalations in Leases: Postal Realty Trust is actively driving internal revenue growth by negotiating new and renewing expiring leases with annual rent escalations, often at a rate of 3%. This marks a strategic shift from historically flat rents in postal leases, with approximately 53% of the company's rent now tied to annual escalators, providing a predictable source of increasing revenue from its property base.
- Same-Store Net Operating Income (NOI) Growth: Beyond the impact of new acquisitions, the company is focused on generating organic revenue growth from its existing portfolio. Postal Realty Trust has provided guidance for same-store cash NOI growth of 6.0% to 7.0% for 2026. This metric reflects increased rental income and efficient property management within properties owned for a full comparative period, contributing to overall revenue expansion.
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Share Repurchases
- In February 2025, Postal Realty Trust's Board of Directors approved a common stock repurchase program authorizing up to $25,000,000 for share repurchases.
Share Issuance
- For the full year 2025, the company raised total gross proceeds of $48.4 million through its at-the-market (ATM) equity offering program.
- Subsequent to December 31, 2025, Postal Realty Trust issued 512,421 shares of common stock through its ATM program for gross proceeds of $8.6 million and entered into forward sales for approximately 2.0 million additional shares totaling gross proceeds of about $35.6 million.
- The number of shares outstanding for Postal Realty Trust has consistently increased, rising from 15.71 million in 2021 to 24.62 million at the end of 2025.
Capital Expenditures
- In 2025, the company spent approximately $7 million on capital improvements.
- Recurring capital expenditures for Postal Realty Trust are considered low for a REIT, most recently cycling at $253,000 quarterly, or about 1.3% of revenues.
- As of Q3 2025, recurring capital expenditure was $288,000.
Peer Outperformance in Office REITs
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Health Care REITs | 15 | 18.1% | 67.6% | 71.7% | WELL 227% · OHI 136% · CTRE 125% |
| Retail REITs | 23 | 16.2% | 39.2% | 23.5% | SKT 120% · SPG 73% · IVT 52% |
| Other Specialized REITs | 11 | -0.8% | 27.7% | 11.9% | IRM 168% · LAMR 66% · EPR 59% |
| Hotel & Resort REITs | 16 | 56.6% | 44.8% | 8.7% | HST 72% · RHP 64% · DRH 51% |
| Real Estate Development | 6 | -2.3% | 21.6% | 6.5% | JOE 48% |
| Industrial REITs | 11 | 14.6% | 34.9% | 1.5% | EGP 13% · CUBE 7% · STAG 7% |
| Single-Family Residential REITs | 4 | 1.5% | 4.4% | -17.0% | AMH -4% · ELS -14% · INVH -20% |
| Multi-Family Residential REITs | 12 | -0.6% | 20.0% | -24.0% | ESS -3% · VMRK -6% · UDR -18% |
| Diversified REITs | 13 | 6.3% | 18.2% | -28.3% | EPRT 17% · WPC 12% · LXP 7% |
| Office REITs ← | 19 | 1.8% | 36.0% | -34.3% | CDP 41% · HIW -4% · SLG -5% |
| Telecom Tower REITs | 3 | 6.5% | 10.0% | -35.3% | AMT -18% · CCI -35% · SBAC -39% |
| Real Estate Services | 26 | -29.8% | -11.8% | -40.2% | JLL 40% · CBRE 28% · NMRK -22% |
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Postal Realty Trust Earnings Notes | 12/16/2025 | |
| How Low Can Postal Realty Trust Stock Really Go? | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 21.59 |
| Mkt Cap | 0.7 |
| Rev LTM | 238 |
| Op Inc LTM | 65 |
| FCF LTM | 104 |
| FCF 3Y Avg | 113 |
| CFO LTM | 105 |
| CFO 3Y Avg | 114 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 16.8% |
| Rev Chg 3Y Avg | 15.1% |
| Rev Chg Q | 16.6% |
| QoQ Delta Rev Chg LTM | 3.9% |
| Op Inc Chg LTM | 19.4% |
| Op Inc Chg 3Y Avg | 29.8% |
| Op Mgn LTM | 30.9% |
| Op Mgn 3Y Avg | 28.2% |
| QoQ Delta Op Mgn LTM | 0.3% |
| CFO/Rev LTM | 44.1% |
| CFO/Rev 3Y Avg | 50.8% |
| FCF/Rev LTM | 42.8% |
| FCF/Rev 3Y Avg | 49.8% |
Price Behavior
| Market Price | $21.61 | |
| Market Cap ($ Bil) | 0.7 | |
| First Trading Date | 05/15/2019 | |
| Distance from 52W High | -12.6% | |
| 50 Days | 200 Days | |
| DMA Price | $22.76 | $21.62 |
| DMA Trend | down | up |
| Distance from DMA | -5.0% | -0.0% |
| 3M | 1YR | |
| Volatility | 23.2% | 24.3% |
| Downside Capture | 14.99 | -13.90 |
| Upside Capture | -4.79 | 40.03 |
| Correlation (S&P 500) | 9.3% | 13.9% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -0.30 | 0.09 | 0.14 | 0.18 | 0.23 | 0.32 |
| Up Beta | 1.99 | 1.05 | -0.20 | -0.10 | 0.24 | 0.36 |
| Down Beta | -0.10 | -0.03 | -0.25 | 0.19 | 0.28 | 0.29 |
| Up Capture | -101% | -29% | 18% | 20% | 36% | 14% |
| Bmk +ve Days | 12 | 18 | 28 | 62 | 130 | 427 |
| Stock +ve Days | 10 | 21 | 34 | 67 | 144 | 387 |
| Down Capture | -8% | 39% | 55% | 33% | -11% | 40% |
| Bmk -ve Days | 10 | 25 | 36 | 64 | 121 | 325 |
| Stock -ve Days | 12 | 20 | 28 | 57 | 101 | 343 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with PSTL | |
|---|---|---|---|---|
| PSTL | 51.8% | 24.3% | 1.65 | - |
| Sector ETF (XLRE) | 11.1% | 14.6% | 0.49 | 58.4% |
| Equity (SPY) | 9.5% | 13.6% | 0.41 | 15.9% |
| Gold (GLD) | 3.6% | 28.7% | 0.11 | 10.7% |
| Commodities (DBC) | 37.7% | 21.2% | 1.40 | -28.0% |
| Real Estate (VNQ) | 12.0% | 14.2% | 0.55 | 61.5% |
| Bitcoin (BTCUSD) | -20.8% | 43.3% | -0.42 | 1.6% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with PSTL | |
|---|---|---|---|---|
| PSTL | 8.8% | 23.0% | 0.31 | - |
| Sector ETF (XLRE) | 1.5% | 19.2% | -0.03 | 57.0% |
| Equity (SPY) | 11.3% | 17.3% | 0.48 | 35.4% |
| Gold (GLD) | 17.5% | 19.1% | 0.74 | 11.0% |
| Commodities (DBC) | 8.0% | 19.6% | 0.29 | 2.7% |
| Real Estate (VNQ) | 1.2% | 18.9% | -0.05 | 59.1% |
| Bitcoin (BTCUSD) | 5.9% | 51.5% | 0.29 | 15.6% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with PSTL | |
|---|---|---|---|---|
| PSTL | 6.6% | 27.3% | 0.34 | - |
| Sector ETF (XLRE) | 7.1% | 20.4% | 0.30 | 39.3% |
| Equity (SPY) | 14.9% | 18.0% | 0.70 | 26.7% |
| Gold (GLD) | 12.0% | 16.5% | 0.59 | 4.9% |
| Commodities (DBC) | 7.6% | 18.1% | 0.33 | 5.3% |
| Real Estate (VNQ) | 5.7% | 20.7% | 0.23 | 40.5% |
| Bitcoin (BTCUSD) | 61.3% | 66.2% | 1.01 | 9.4% |
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Returns Analyses
Earnings Returns History
Updated 11/6/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 11/3/2026 | 2.5% | ||
| 8/4/2026 | 1.0% | -2.7% | 4.3% |
| 5/5/2026 | 3.5% | 3.9% | 2.1% |
| 2/25/2026 | 1.9% | 2.0% | -8.8% |
| 1/8/2026 | -0.5% | 5.7% | 13.8% |
| 11/4/2025 | 3.2% | 6.6% | 2.4% |
| 8/4/2025 | 4.7% | 3.9% | 12.7% |
| 5/1/2025 | -0.2% | -1.3% | 10.0% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 22 | 17 | 16 |
| # Negative | 8 | 12 | 13 |
| Median Positive | 2.2% | 3.9% | 4.9% |
| Median Negative | -0.3% | -1.4% | -3.3% |
| Max Positive | 13.0% | 11.3% | 19.9% |
| Max Negative | -2.2% | -6.0% | -9.9% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 11/3/2026 | 2.5% | ||
| 8/4/2026 | 1.0% | -2.7% | 4.3% |
| 5/5/2026 | 3.5% | 3.9% | 2.1% |
| 2/25/2026 | 1.9% | 2.0% | -8.8% |
| 1/8/2026 | -0.5% | 5.7% | 13.8% |
| 11/4/2025 | 3.2% | 6.6% | 2.4% |
| 8/4/2025 | 4.7% | 3.9% | 12.7% |
| 5/1/2025 | -0.2% | -1.3% | 10.0% |
| 2/27/2025 | 13.0% | 11.3% | 13.3% |
| 11/4/2024 | 3.9% | 2.6% | -0.1% |
| 8/6/2024 | 0.1% | -1.3% | 0.4% |
| 5/7/2024 | -0.2% | -0.7% | -3.3% |
| 2/26/2024 | 2.1% | 4.3% | 1.2% |
| 1/10/2024 | 0.9% | -0.4% | -0.5% |
| 10/30/2023 | 0.1% | 4.9% | 5.6% |
| 8/8/2023 | 1.0% | -0.4% | -1.9% |
| 5/2/2023 | 2.3% | 1.8% | -0.9% |
| 3/1/2023 | 1.4% | 3.1% | 1.3% |
| 1/11/2023 | 0.5% | 0.1% | 4.2% |
| 11/1/2022 | 0.7% | 0.8% | 0.0% |
| 8/2/2022 | 2.6% | 0.7% | -9.9% |
| 5/11/2022 | -2.2% | -1.5% | -2.4% |
| 3/10/2022 | -0.3% | -2.6% | -4.3% |
| 1/11/2022 | -0.2% | -6.0% | -5.9% |
| 11/8/2021 | -0.2% | -1.8% | -9.6% |
| 8/10/2021 | 2.6% | -0.5% | -2.1% |
| 5/11/2021 | 1.7% | 2.2% | 5.5% |
| 3/23/2021 | 5.0% | 7.8% | 19.9% |
| 1/4/2021 | -0.6% | -4.2% | -6.1% |
| 11/10/2020 | 3.5% | 10.8% | 9.4% |
| SUMMARY STATS | |||
| # Positive | 22 | 17 | 16 |
| # Negative | 8 | 12 | 13 |
| Median Positive | 2.2% | 3.9% | 4.9% |
| Median Negative | -0.3% | -1.4% | -3.3% |
| Max Positive | 13.0% | 11.3% | 19.9% |
| Max Negative | -2.2% | -6.0% | -9.9% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2026 | 11/03/2026 | 10-Q |
| 06/30/2026 | 08/04/2026 | 10-Q |
| 03/31/2026 | 05/05/2026 | 10-Q |
| 12/31/2025 | 02/24/2026 | 10-K |
| 09/30/2025 | 11/04/2025 | 10-Q |
| 06/30/2025 | 08/04/2025 | 10-Q |
| 03/31/2025 | 05/01/2025 | 10-Q |
| 12/31/2024 | 02/27/2025 | 10-K |
| 09/30/2024 | 11/04/2024 | 10-Q |
| 06/30/2024 | 08/06/2024 | 10-Q |
| 03/31/2024 | 05/07/2024 | 10-Q |
| 12/31/2023 | 02/29/2024 | 10-K |
| 09/30/2023 | 10/30/2023 | 10-Q |
| 06/30/2023 | 08/08/2023 | 10-Q |
| 03/31/2023 | 05/04/2023 | 10-Q |
| 12/31/2022 | 03/07/2023 | 10-K |
| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2026 | 11/03/2026 | 10-Q |
| 06/30/2026 | 08/04/2026 | 10-Q |
| 03/31/2026 | 05/05/2026 | 10-Q |
| 12/31/2025 | 02/24/2026 | 10-K |
| 09/30/2025 | 11/04/2025 | 10-Q |
| 06/30/2025 | 08/04/2025 | 10-Q |
| 03/31/2025 | 05/01/2025 | 10-Q |
| 12/31/2024 | 02/27/2025 | 10-K |
| 09/30/2024 | 11/04/2024 | 10-Q |
| 06/30/2024 | 08/06/2024 | 10-Q |
| 03/31/2024 | 05/07/2024 | 10-Q |
| 12/31/2023 | 02/29/2024 | 10-K |
| 09/30/2023 | 10/30/2023 | 10-Q |
| 06/30/2023 | 08/08/2023 | 10-Q |
| 03/31/2023 | 05/04/2023 | 10-Q |
| 12/31/2022 | 03/07/2023 | 10-K |
| 09/30/2022 | 11/04/2022 | 10-Q |
| 06/30/2022 | 08/04/2022 | 10-Q |
| 03/31/2022 | 05/13/2022 | 10-Q |
| 12/31/2021 | 03/14/2022 | 10-K |
| 09/30/2021 | 11/12/2021 | 10-Q |
| 06/30/2021 | 08/13/2021 | 10-Q |
| 03/31/2021 | 05/17/2021 | 10-Q |
| 12/31/2020 | 03/30/2021 | 10-K |
| 09/30/2020 | 11/13/2020 | 10-Q |
| 06/30/2020 | 08/14/2020 | 10-Q |
| 03/31/2020 | 06/26/2020 | 10-Q |
| 12/31/2019 | 03/27/2020 | 10-K |
Recent Forward Guidance
Updated 11/4/2026Latest: Q3 2026 Earnings Reported 11/3/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q4 2026 Dividends per Share | Reported | 0.25 | ||||||
| 2026 AFFO per Diluted Share | Reported | 1.42 | 1.43 | 1.44 | 0.7% | Raised | Guidance: 1.42 for 2026 | |
| 2026 AFFO Growth at Midpoint | Reported | 8.3% | ||||||
| 2026 Same Store Cash NOI Growth | Reported | 6.0% | 6.5% | 7.0% | 0.0% | Affirmed | Guidance: 6.5% for 2026 | |
| 2026 Acquisition Volume | Reported | 185.00 Mil | 192.50 Mil | 200.00 Mil | 24.2% | Raised | Guidance: 155.00 Mil for 2026 | |
| 2026 Cash G&A Expense | Reported | 11.50 Mil | 12.00 Mil | 12.50 Mil | 0.0% | Affirmed | Guidance: 12.00 Mil for 2026 | |
Prior: Q2 2026 Earnings Reported 8/4/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 AFFO per Diluted Share | Reported | 1.41 | 1.42 | 1.43 | 0.7% | Raised | Guidance: 1.41 for 2026 | |
| 2026 Same Store Cash NOI Growth | Reported | 6.0% | 6.5% | 7.0% | 0 | Affirmed | Guidance: 6.5% for 2026 | |
| 2026 Acquisition Volume | Reported | 150.00 Mil | 155.00 Mil | 160.00 Mil | 14.8% | Raised | Guidance: 135.00 Mil for 2026 | |
| 2026 Cash G&A Expense | Reported | 11.50 Mil | 12.00 Mil | 12.50 Mil | 0 | Affirmed | Guidance: 12.00 Mil for 2026 | |
Insider Activity
Updated 4/26/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Garber, Jeremy | Pres., Treasurer & Secretary | Direct | Sell | 3062026 | 20.58 | 19,914 | 409,922 | 4,599,658 | Form |
| 2 | Brandwein, Matt | EVP & Chief Accounting Officer | Direct | Sell | 9112025 | 16.00 | 1,803 | 28,848 | 1,726,704 | Form |
| 3 | Brandwein, Matt | EVP & Chief Accounting Officer | Direct | Sell | 9112025 | 16.00 | 4,112 | 65,792 | 1,755,552 | Form |
| 4 | Brandwein, Matt | EVP & Chief Accounting Officer | Direct | Sell | 6162025 | 15.05 | 4,654 | 70,043 | 1,684,381 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Garber, Jeremy | Pres., Treasurer & Secretary | Direct | Sell | 3062026 | 20.58 | 19,914 | 409,922 | 4,599,658 | Form |
| 2 | Brandwein, Matt | EVP & Chief Accounting Officer | Direct | Sell | 9112025 | 16.00 | 1,803 | 28,848 | 1,726,704 | Form |
| 3 | Brandwein, Matt | EVP & Chief Accounting Officer | Direct | Sell | 9112025 | 16.00 | 4,112 | 65,792 | 1,755,552 | Form |
| 4 | Brandwein, Matt | EVP & Chief Accounting Officer | Direct | Sell | 6162025 | 15.05 | 4,654 | 70,043 | 1,684,381 | Form |
Industry Resources
| Real Estate Resources |
| The Real Deal |
| Commercial Observer |
| Inman |
| Office REITs Resources |
| Commercial Property Executive |
| BOMA International |
| Propmodo |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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