(Postal Trust Realty – Properties)
2020 has been a very difficult year for most REITs. The popular Vanguard REIT ETF (VNQ) is still down double digits this year. Retail, commercial, and lodging REITs have been hit the hardest as COVID lockdowns have led to a decline in rental revenue. However, there are a few niche segments of the REIT industry that have been almost entirely unimpacted by the crisis. One of which is Postal Realty Trust (PSTL).
PSTL is one of the most unique REITs on the market. The company has one tenant, the U.S. Postal Service and, currently, owns about 700 properties and 3.9M sqft of postal properties. These properties are all over the country and have a 100% occupancy rate. PSTL is a relatively new REIT that was launched last year and, as you can see below, has had roughly flat performance since inception: