B. Riley began coverage on shares of Postal Realty Trust (NYSE:PSTL) in a research report report published on Monday morning, TipRanks reports. The brokerage issued a buy rating and a $18.50 price objective on the stock.
Separately, Zacks Investment Research raised Postal Realty Trust from a hold rating to a buy rating and set a $17.00 target price for the company in a report on Wednesday, October 16th. Six research analysts have rated the stock with a buy rating, The company has a consensus rating of Buy and a consensus price target of $17.90.
PSTL traded up $0.16 on Monday, reaching $16.19. The stock had a trading volume of 33,941 shares, compared to its average volume of 30,363. Postal Realty Trust has a fifty-two week low of $13.93 and a fifty-two week high of $17.37. The firm’s 50-day moving average price is $16.31.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.56 dividend on an annualized basis and a yield of 3.46%.
In other news, CEO Andrew Spodek bought 3,900 shares of the stock in a transaction on Tuesday, September 17th. The stock was acquired at an average price of $14.86 per share, with a total value of $57,954.00.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in PSTL. Taylor Wealth Management Partners bought a new stake in shares of Postal Realty Trust in the 2nd quarter valued at about $5,132,000. State of New Jersey Common Pension Fund D bought a new stake in shares of Postal Realty Trust in the 2nd quarter valued at about $1,260,000. Janney Montgomery Scott LLC bought a new stake in shares of Postal Realty Trust in the 2nd quarter valued at about $447,000. Trellus Management Company LLC bought a new stake in shares of Postal Realty Trust in the 2nd quarter valued at about $315,000. Finally, Greenwich Investment Management Inc. bought a new stake in shares of Postal Realty Trust in the 2nd quarter valued at about $788,000. Hedge funds and other institutional investors own 50.87% 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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