Longboard Asset Management LP Takes $253,000 Position in Postal Realty Trust, Inc. $PSTL

Key Points

• Longboard Asset Management LP has purchased 17,143 shares of Postal Realty Trust, valued at approximately $253,000, increasing its ownership to about 0.07% of the company.
• The stock currently has a median price target of $17.75 and a consensus rating of "Buy" from equity research analysts.
• Postal Realty Trust recently declared a quarterly dividend of $0.2425 per share, translating to an annualized dividend of $0.97 and a yield of 6.2%.

Longboard Asset Management LP acquired a new position in shares of Postal Realty Trust, Inc. (NYSE:PSTL - Free Report) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 17,143 shares of the company's stock, valued at approximately $253,000. Longboard Asset Management LP owned about 0.07% of Postal Realty Trust at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC lifted its holdings in shares of Postal Realty Trust by 21.0% in the first quarter. Janney Montgomery Scott LLC now owns 185,857 shares of the company's stock valued at $2,654,000 after buying an additional 32,308 shares during the period. D. E. Shaw & Co. Inc. acquired a new position in Postal Realty Trust in the 4th quarter valued at approximately $448,000. Round Rock Advisors LLC acquired a new position in Postal Realty Trust in the 1st quarter valued at approximately $275,000. Ballentine Partners LLC acquired a new position in shares of Postal Realty Trust in the 1st quarter worth approximately $436,000. Finally, Gilman Hill Asset Management LLC increased its holdings in Postal Realty Trust by 6.5% during the 1st quarter. Gilman Hill Asset Management LLC now owns 581,220 shares of the company's stock valued at $8,300,000 after purchasing an additional 35,595 shares in the last quarter. 57.89% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on PSTL shares. Stifel Nicolaus set a $17.75 price objective on Postal Realty Trust and gave the company a "buy" rating in a research report on Tuesday, August 5th. Wall Street Zen upgraded Postal Realty Trust from a "hold" rating to a "buy" rating in a research report on Saturday, August 16th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of "Buy" and an average target price of $17.75.

Postal Realty Trust Stock Down 0.8%

Shares of NYSE:PSTL traded down $0.14 during midday trading on Monday, reaching $16.10. The company had a trading volume of 135,114 shares, compared to its average volume of 173,171. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 1.01. The business's 50 day moving average price is $15.11 and its 200 day moving average price is $14.33. The stock has a market cap of $395.62 million, a PE ratio of 42.36 and a beta of 0.86. Postal Realty Trust, Inc. has a 1-year low of $12.26 and a 1-year high of $16.50.

Postal Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Thursday, July 31st were given a dividend of $0.2425 per share. This represents a $0.97 dividend on an annualized basis and a yield of 6.0%. The ex-dividend date of this dividend was Thursday, July 31st. Postal Realty Trust's payout ratio is 255.26%.

Insiders Place Their Bets

In other Postal Realty Trust news, CAO Matt Brandwein sold 4,112 shares of the business's stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $16.00, for a total transaction of $65,792.00. Following the transaction, the chief accounting officer owned 109,722 shares of the company's stock, valued at $1,755,552. The trade was a 3.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 13.20% of the stock is currently owned by company insiders.

Postal Realty Trust Profile

Postal Realty Trust, Inc NYSE: PSTL is an internally managed real estate investment trust that owns properties primarily leased to the United States Postal Service ("USPS"). PSTL is focused on acquiring the network of USPS properties, which provide a critical element of the nation's logistics infrastructure that facilitates cost effective and efficient last-mile delivery solutions.