CEDARHURST, N.Y. (AP) — CEDARHURST, N.Y. (AP) — Postal Realty Trust, Inc. (PSTL) on Wednesday reported a key measure of profitability in its fourth quarter. The results topped Wall Street expectations.
The Cedarhurst, New York-based real estate investment trust said it had funds from operations of $10.6 million, or 35 cents per share, in the period.
The average estimate of five analysts surveyed by Zacks Investment Research was for funds from operations of 27 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 net income of $4.5 million, or 17 cents per share.
Postal Realty Trust, based in Cedarhurst, New York, posted revenue of $21.4 million in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $19.1 million.
For the year, the company reported funds from operations of $33.7 million. Revenue was reported as $76.4 million.
Postal Realty Trust expects full-year funds from operations in the range of $1.20 to $1.22 per share.
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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
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