Zacks Investment Research upgraded shares of Postal Realty Trust (NYSE:PSTL) from a hold rating to a buy rating in a research note published on Wednesday, Zacks.com reports. They currently have $17.00 price target on the stock.
According to Zacks, “Postal Realty Trust Inc. is a real estate investment trust which owns and manages properties leased to the United States Postal Service. Postal Realty Trust Inc. is based in NY, United States. “
A number of other research firms have also issued reports on PSTL. B. Riley began coverage on Postal Realty Trust in a research note on Tuesday, July 2nd. They set a buy rating and a $18.50 price objective on the stock. Janney Montgomery Scott began coverage on Postal Realty Trust in a research note on Friday, June 21st. They set a buy rating and a $18.00 price objective on the stock. Six analysts have rated the stock with a buy rating, The stock has a consensus rating of Buy and an average target price of $17.90.
Postal Realty Trust (NYSE:PSTL) last released its quarterly earnings data on Wednesday, August 14th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.14). The company had revenue of $2.41 million during the quarter, compared to the consensus estimate of $1.75 million. On average, sell-side analysts predict that Postal Realty Trust will post 0.28 EPS for the current fiscal year.
In other Postal Realty Trust news, CEO Andrew Spodek bought 3,900 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were acquired at an average cost of $14.86 per share, for a total transaction of $57,954.00.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Canada Pension Plan Investment Board bought a new position in Postal Realty Trust in the 2nd quarter worth about $315,000. Bard Associates Inc. bought a new position in Postal Realty Trust in the 2nd quarter worth about $1,696,000. Janney Montgomery Scott LLC bought a new position in Postal Realty Trust in the 2nd quarter worth about $447,000. Ancora Advisors LLC bought a new position in Postal Realty Trust in the 2nd quarter worth about $309,000. Finally, Taylor Wealth Management Partners bought a new position in Postal Realty Trust in the 2nd quarter worth about $5,132,000. Institutional investors and hedge funds own 50.14% of the company’s stock.
About Postal Realty Trust
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.
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