Longboard Asset Management LP Invests $253,000 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 Postal Realty Trust, Inc. (NYSE:PSTL - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 17,143 shares of the company's stock, valued at approximately $253,000. Longboard Asset Management LP owned 0.07% of Postal Realty Trust as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Parallel Advisors LLC raised its position in shares of Postal Realty Trust by 964.5% in the first quarter. Parallel Advisors LLC now owns 1,948 shares of the company's stock worth $28,000 after acquiring an additional 1,765 shares during the period. NBC Securities Inc. raised its position in shares of Postal Realty Trust by 124,900.0% in the first quarter. NBC Securities Inc. now owns 3,750 shares of the company's stock worth $53,000 after acquiring an additional 3,747 shares during the period. Strs Ohio acquired a new position in shares of Postal Realty Trust in the first quarter worth about $54,000. Comerica Bank raised its position in shares of Postal Realty Trust by 151.0% in the first quarter. Comerica Bank now owns 4,287 shares of the company's stock worth $61,000 after acquiring an additional 2,579 shares during the period. Finally, New Age Alpha Advisors LLC acquired a new position in shares of Postal Realty Trust in the first quarter worth about $71,000. Institutional investors and hedge funds own 57.89% of the company's stock.

Postal Realty Trust Trading Down 0.8%

Shares of Postal Realty Trust stock traded down $0.13 during mid-day trading on Friday, hitting $16.22. The stock had a trading volume of 360,161 shares, compared to its average volume of 163,528. The firm has a 50-day moving average of $15.09 and a two-hundred day moving average of $14.31. Postal Realty Trust, Inc. has a 12-month low of $12.26 and a 12-month high of $16.50. 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 firm has a market cap of $398.69 million, a P/E ratio of 42.69 and a beta of 0.86.

Postal Realty Trust Dividend Announcement

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

Insider Buying and Selling at Postal Realty Trust

In other news, CAO Matt Brandwein sold 1,803 shares of the stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $16.00, for a total value of $28,848.00. Following the completion of the sale, the chief accounting officer owned 107,919 shares of the company's stock, valued at $1,726,704. This represents a 1.64% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 13.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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

About Postal Realty Trust

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.