The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Barry Oxford - Colliers Securities - Analyst
: Great. Thanks guys. Andrew, I think this is more of a question for you we changed postmaster general, we have a new one. When you look at your
leases, I'm not talking about the leases that are kind of signed and executed but going forward as you're signing new leases. Have they indicated
that they're going to sign the same type of leases or are they obligated to sign the same type of leases that you currently, have in place and are
getting signed?
Question: Barry Oxford - Colliers Securities - Analyst
: Because of the low expense that it represents.
Question: Barry Oxford - Colliers Securities - Analyst
: Great. Thanks guys.
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FEBRUARY 27, 2025 / 2:00PM, PSTL.N - Q4 2024 Postal Realty Trust Inc Earnings Call
Question: Steve Dumanski - Janney Montgomery Scott - Analyst
: Thank you. Yesterday, the Postal service released an update that it projects to save $36 billion over the course of the next 10 years. So one of the
proposed cost cutting measures verbatim from the tax to eliminate unnecessary facilities. Do you have any insight of the aforementioned facilities
refer to processing centers or just or also post offices?
Question: Steve Dumanski - Janney Montgomery Scott - Analyst
: Thank you, that's very helpful. And I guess just to add on to that, so with the Postal service implementation of the regional transportation optimization
initiative, how has that affected your acquisition or SMM strategy if it has at all?
Question: Steve Dumanski - Janney Montgomery Scott - Analyst
: Thank you Andrew, I appreciate it.
Question: Michael Gorman - BTIG - Analyst
: Thanks. Good morning appreciates the guidance, Rob just wanted to make sure that I've got everything square. 4% to 6% same store next year at
the midpoint AFFO looks just a touch over 4%. Looks like some of that's coming out from the G&A line, going a cash G&A going up in in '25.
Are there any other kind of offsets to the internal growth and the growth through acquisitions that we should be thinking about as we think about
2025 growth?
Question: Michael Gorman - BTIG - Analyst
: Okay great. And I think maybe Andrew you've kind of talked about this in the past just given the scale of the business and the quality of the platform.
Now that you're seeing a little bit more of a current same story NOI process with the post office.
Can you give us a sense for kind of how what you're seeing from properties in your portfolio compare with properties before you bring them onto
the platform like what what's a typical post office facility in private hands doing before you're able to bring it onto your lease structure and into
your platform? Thanks.
Question: Michael Gorman - BTIG - Analyst
: Great thank you.
Question: Jonathan Petersen - Jefferies - Analyst
: Sorry, let me sneak this one in. So I'm just, I want to make sure I understand how much catch-up rent payments were in the fourth quarter top line
revenue and how do we think about like what a run rate is into next year?
Question: Jonathan Petersen - Jefferies - Analyst
: Okay. All right, great, that's helpful. Thank you.
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