PSTLPostal Realty Trust, Inc.
Real Estate Investment Trusts
- Revenue
- $96M
- 25% YoY
- Operating margin
- 35.8%
- 29% YoY
- EBITDA
- $58M
- 34% YoY
- Market cap
- $653M
- Employees
- —
- Net debt / EBITDA
- 6.5×
- $380M net debt
- AI in 10-K
- 2.7
- mentions per 10K words
Takeover score 2 of 13
Fixable underperformance 1 of 7
- TSR below peersNo—3+ of last 5 years
- High CEO pay despite TSRNo—Median CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo315% of net incomeCash flow under 80% of net income
- Dilutive SBCNo7% of revenueOver 10% of revenue
- Payouts exceed cash flowNo69% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo0% of assetsOver 40% of assets
- Shareholder dissentYes65% lowest supportAny vote under 80% support
Buyer economics 1 of 4
- Low revenue per employeeNo—Bottom quartile of its SIC industry
- Quiet on AINo2.7 per 10K words · 66th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo6.5× EBITDA net debtMore cash than debt, positive EBITDA
- Buyout-sizedYes$653M market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo−$410K netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $40M | $53M | $64M | $76M | $96M | 25% |
| Operating income | $6M | $10M | $14M | $21M | $34M | 62% |
| Net income | $2M | $4M | $4M | $7M | $14M | 115% |
| Operating cash flow | $17M | $25M | $28M | $34M | $45M | 33% |
| Stock-based comp | $4M | $5M | $6M | $6M | $6M | 1.0% |
| Dividends | $15M | $22M | $24M | $28M | $31M | 9.9% |
Deal filings
None.
13D filers
| Filed | Filer | Form | Stake | Intent |
|---|---|---|---|---|
| Sep 9, 2026 | Spodek Andrew | SCHEDULE 13D/A | 3.2% | Passive |
| May 24, 2019 | Spodek Andrew | SC 13D | 12.5% | Active |
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $410K · 2
- Net
- −$410K
Pay vs performance
No pay-versus-performance disclosure yet.