Picton Mahoney Asset Management Invests $2.36 Million in Postal Realty Trust (NASDAQ:PSTL)

Picton Mahoney Asset Management bought a new position in Postal Realty Trust (NASDAQ:PSTL) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 150,000 shares of the company’s stock, valued at approximately $2,363,000. Picton Mahoney Asset Management owned 2.84% of Postal Realty Trust as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of PSTL. Trellus Management Company LLC acquired a new stake in shares of Postal Realty Trust in the second quarter worth $315,000. Janney Montgomery Scott LLC acquired a new stake in shares of Postal Realty Trust in the second quarter worth $447,000. Greenwich Investment Management Inc. acquired a new stake in shares of Postal Realty Trust in the second quarter worth $788,000. State of New Jersey Common Pension Fund D acquired a new stake in shares of Postal Realty Trust in the second quarter worth $1,260,000. Finally, Taylor Wealth Management Partners acquired a new stake in shares of Postal Realty Trust in the second quarter worth $5,132,000.

Shares of NASDAQ:PSTL traded up $0.22 during midday trading on Friday, hitting $15.31. 6,305 shares of the stock were exchanged, compared to its average volume of 38,071. Postal Realty Trust has a 52-week low of $13.93 and a 52-week high of $17.37. The stock’s fifty day moving average is $15.09.

Postal Realty Trust (NASDAQ:PSTL) last announced its quarterly earnings data on Wednesday, August 14th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.14). The company had revenue of $2.41 million during the quarter, compared to analyst estimates of $1.75 million.

The company also recently disclosed an annual dividend, which was paid on Wednesday, July 31st. Investors of record on Tuesday, July 9th were issued a dividend of $0.063 per share. The ex-dividend date of this dividend was Monday, July 8th. This represents a dividend yield of 0.41%.

Several analysts have recently commented on PSTL shares. B. Riley started coverage on Postal Realty Trust in a research report on Tuesday, July 2nd. They issued a “buy” rating and a $18.50 target price for the company. Janney Montgomery Scott started coverage on Postal Realty Trust in a research report on Friday, June 21st. They issued a “buy” rating and a $18.00 target price for the company. Stifel Nicolaus began coverage on Postal Realty Trust in a research report on Monday, June 10th. They issued a “buy” rating and a $18.00 target price for the company. DA Davidson began coverage on Postal Realty Trust in a report on Monday, June 10th. They set a “buy” rating for the company. Finally, BMO Capital Markets began coverage on Postal Realty Trust in a report on Monday, June 10th. They set an “outperform” rating and a $18.00 price objective for the company. Five investment analysts have rated the stock with a buy rating, The stock presently has an average rating of “Buy” and an average price target of $18.13.

Postal Realty Trust Profile

Postal Realty Trust, Inc is an internally managed real estate investment trust that will own and manage properties leased to the United States Postal Service, or USPS. Upon completion of the offering and related formation transactions, the Company will own and manage an initial portfolio of 271 postal properties located in 41 states comprising 871,843 net leasable interior square feet, all of which are leased to the USPS, and through its taxable REIT subsidiary will provide fee-based third party property management services for an additional 404 postal properties leased to the USPS and owned by family members of Andrew Spodek, the Company's chief executive officer, and their partners.

Further Reading: Capital gains and your 401(k) or IRA

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Institutional Ownership by Quarter for Postal Realty Trust (NASDAQ:PSTL)

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