2023 Q1 Form 10-K Financial Statement

#000162828023006624 Filed on March 07, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $15.15M $14.90M $53.33M
YoY Change 26.96% 33.84% 33.53%
Cost Of Revenue $3.607M $3.556M $12.79M
YoY Change 15.61% 26.95% 36.3%
Gross Profit $11.54M $11.34M $40.54M
YoY Change 30.98% 36.15% 32.68%
Gross Profit Margin 76.19% 76.13% 76.01%
Selling, General & Admin $4.159M $3.120M $13.11M
YoY Change 14.2% 12.96% 23.18%
% of Gross Profit 36.04% 27.5% 32.34%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $3.067M $9.983M $17.73M
YoY Change 30.73% 158.69% 129.68%
% of Gross Profit 26.57% 88.0% 43.73%
Operating Expenses $12.60M $7.881M $43.63M
YoY Change 15.92% 19.03% 28.25%
Operating Profit $2.545M $3.463M $9.700M
YoY Change 140.32% 102.4% 63.88%
Interest Expense $2.045M -$2.069M $5.378M
YoY Change 198.1% 139.47% 96.35%
% of Operating Profit 80.35% -59.75% 55.44%
Other Income/Expense, Net $114.0K $313.0K $1.029M
YoY Change -76.59% 158.68% 156.61%
Pretax Income $449.0K $1.707M $4.756M
YoY Change -38.66% 76.34% 78.33%
Income Tax $16.00K -$1.000K $12.00K
% Of Pretax Income 3.56% -0.06% 0.25%
Net Earnings $348.0K $1.101M $3.854M
YoY Change -41.51% 46.6% 87.54%
Net Earnings / Revenue 2.3% 7.39% 7.23%
Basic Earnings Per Share $0.00 $0.15
Diluted Earnings Per Share $0.00 $0.06 $0.15
COMMON SHARES
Basic Shares Outstanding 19.68M shares 19.01M shares 18.55M shares
Diluted Shares Outstanding 19.29M shares 18.55M shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.112M $1.495M $1.495M
YoY Change -64.55% -74.47% -74.47%
Cash & Equivalents $2.112M $1.495M
Short-Term Investments
Other Short-Term Assets $11.61M $15.97M $14.96M
YoY Change 8.49% 112.59% 99.15%
Inventory
Prepaid Expenses
Receivables $2.861M $4.613M $4.613M
Other Receivables $1.279M $1.194M $1.194M
Total Short-Term Assets $17.86M $23.27M $22.26M
YoY Change -10.4% 27.82% 22.27%
LONG-TERM ASSETS
Property, Plant & Equipment $459.2M $443.7M $444.7M
YoY Change 29.92% 35.5% 35.81%
Goodwill $1.536M
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $672.0K $547.0K $547.0K
YoY Change -48.19% -53.21% -53.21%
Total Long-Term Assets $493.0M $478.0M $479.0M
YoY Change 27.23% 32.97% 33.25%
TOTAL ASSETS
Total Short-Term Assets $17.86M $23.27M $22.26M
Total Long-Term Assets $493.0M $478.0M $479.0M
Total Assets $510.9M $501.3M $501.3M
YoY Change 25.39% 32.72% 32.72%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.464M $9.109M $8.095M
YoY Change -1.51% 10.75% -1.58%
Accrued Expenses $965.0K $1.014M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $7.429M $9.109M $9.109M
YoY Change 13.2% 10.75% 10.75%
LONG-TERM LIABILITIES
Long-Term Debt $213.6M $196.7M $196.7M
YoY Change 74.69% 106.25% 106.25%
Other Long-Term Liabilities $12.03M $11.82M $11.82M
YoY Change 20.57% 36.34% 36.34%
Total Long-Term Liabilities $225.7M $208.5M $208.5M
YoY Change 70.61% 100.43% 100.43%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.429M $9.109M $9.109M
Total Long-Term Liabilities $225.7M $208.5M $208.5M
Total Liabilities $233.1M $217.6M $272.1M
YoY Change 67.89% 93.86% 72.55%
SHAREHOLDERS EQUITY
Retained Earnings -$37.00M -$32.56M
YoY Change 63.85% 72.45%
Common Stock $197.0K $195.0K
YoY Change 4.79% 4.84%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $222.4M $229.2M $229.2M
YoY Change
Total Liabilities & Shareholders Equity $510.9M $501.3M $501.3M
YoY Change 25.39% 32.72% 32.72%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income $348.0K $1.101M $3.854M
YoY Change -41.51% 46.6% 87.54%
Depreciation, Depletion And Amortization $3.067M $9.983M $17.73M
YoY Change 30.73% 158.69% 129.68%
Cash From Operating Activities $7.715M $6.021M $24.59M
YoY Change 16.54% 65.05% 43.85%
INVESTING ACTIVITIES
Capital Expenditures $17.78M $20.55M $119.9M
YoY Change -167.59% -169.54% -231.23%
Acquisitions
YoY Change
Other Investing Activities $11.00K $394.0K $808.0K
YoY Change -96.39% -102.53% 139.76%
Cash From Investing Activities -$18.02M -$20.15M -$120.1M
YoY Change -34.93% -55.32% 12.58%
FINANCING ACTIVITIES
Cash Dividend Paid $5.963M $21.57M
YoY Change 14.74% 43.38%
Common Stock Issuance & Retirement, Net $11.45M
YoY Change -91.75%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $11.04M 11.27M $90.57M
YoY Change -48.15% -74.13% -3.01%
NET CHANGE
Cash From Operating Activities $7.715M 6.021M $24.59M
Cash From Investing Activities -$18.02M -20.15M -$120.1M
Cash From Financing Activities $11.04M 11.27M $90.57M
Net Change In Cash $742.0K -2.866M -$4.984M
YoY Change 224.02% -236.48% -232.73%
FREE CASH FLOW
Cash From Operating Activities $7.715M $6.021M $24.59M
Capital Expenditures $17.78M $20.55M $119.9M
Free Cash Flow -$10.07M -$14.53M -$95.31M
YoY Change -130.57% -143.76% -187.87%

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ProfitLoss
4744000 usd
CY2022 pstl Reallocation Of Noncontrolling Interest
ReallocationOfNoncontrollingInterest
0 usd
CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
283711000 usd
CY2022 us-gaap Profit Loss
ProfitLoss
4744000 usd
CY2021 us-gaap Profit Loss
ProfitLoss
2556000 usd
CY2022 us-gaap Depreciation
Depreciation
17727000 usd
CY2021 us-gaap Depreciation
Depreciation
13990000 usd
CY2022 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
596000 usd
CY2021 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
714000 usd
CY2022 us-gaap Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
-2185000 usd
CY2021 us-gaap Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
-1599000 usd
CY2022 pstl Amortization Of Intangible Liability
AmortizationOfIntangibleLiability
91000 usd
CY2021 pstl Amortization Of Intangible Liability
AmortizationOfIntangibleLiability
23000 usd
CY2022 us-gaap Proceeds From Insurance Settlement Operating Activities
ProceedsFromInsuranceSettlementOperatingActivities
-843000 usd
CY2021 us-gaap Proceeds From Insurance Settlement Operating Activities
ProceedsFromInsuranceSettlementOperatingActivities
-314000 usd
CY2022 us-gaap Share Based Compensation
ShareBasedCompensation
4718000 usd
CY2021 us-gaap Share Based Compensation
ShareBasedCompensation
3720000 usd
CY2022 pstl Other Receivable
OtherReceivable
47000 usd
CY2021 pstl Other Receivable
OtherReceivable
58000 usd
CY2022 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 usd
CY2021 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-202000 usd
CY2022 us-gaap Increase Decrease In Leasing Receivables
IncreaseDecreaseInLeasingReceivables
529000 usd
CY2021 us-gaap Increase Decrease In Leasing Receivables
IncreaseDecreaseInLeasingReceivables
450000 usd
CY2022 us-gaap Straight Line Rent
StraightLineRent
-8000 usd
CY2021 us-gaap Straight Line Rent
StraightLineRent
-12000 usd
CY2022 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
358000 usd
CY2021 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
765000 usd
CY2022 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
95000 usd
CY2021 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
2104000 usd
CY2022 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
852000 usd
CY2021 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
1098000 usd
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
24591000 usd
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
17095000 usd
CY2022 us-gaap Payments To Acquire Real Estate Held For Investment
PaymentsToAcquireRealEstateHeldForInvestment
116212000 usd
CY2021 us-gaap Payments To Acquire Real Estate Held For Investment
PaymentsToAcquireRealEstateHeldForInvestment
89464000 usd
CY2022 us-gaap Payments To Acquire Lease Receivables
PaymentsToAcquireLeaseReceivables
10000 usd
CY2021 us-gaap Payments To Acquire Lease Receivables
PaymentsToAcquireLeaseReceivables
15707000 usd
CY2022 pstl Repayment In Financing Lease
RepaymentInFinancingLease
0 usd
CY2021 pstl Repayment In Financing Lease
RepaymentInFinancingLease
-19000 usd
CY2022 pstl Tenant Improvements1
TenantImprovements1
273000 usd
CY2021 pstl Tenant Improvements1
TenantImprovements1
487000 usd
CY2022 us-gaap Proceeds From Insurance Settlement Investing Activities
ProceedsFromInsuranceSettlementInvestingActivities
843000 usd
CY2021 us-gaap Proceeds From Insurance Settlement Investing Activities
ProceedsFromInsuranceSettlementInvestingActivities
1151000 usd
CY2022 us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
3687000 usd
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
3755000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
7026000 usd
CY2021 us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
1900000 usd
CY2022 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
808000 usd
CY2021 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
337000 usd
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-120147000 usd
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-106725000 usd
CY2022 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
100000 usd
CY2021 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
13845000 usd
CY2022 us-gaap Proceeds From Issuance Of Unsecured Debt
ProceedsFromIssuanceOfUnsecuredDebt
115000000 usd
CY2021 us-gaap Proceeds From Issuance Of Unsecured Debt
ProceedsFromIssuanceOfUnsecuredDebt
50000000 usd
CY2022 pstl Proceeds From Revolving Credit Facility
ProceedsFromRevolvingCreditFacility
115000000 usd
CY2021 pstl Proceeds From Revolving Credit Facility
ProceedsFromRevolvingCreditFacility
139000000 usd
CY2022 pstl Repayments Of Revolving Credit Facility
RepaymentsOfRevolvingCreditFacility
128000000 usd
CY2021 pstl Repayments Of Revolving Credit Facility
RepaymentsOfRevolvingCreditFacility
204000000 usd
CY2022 pstl Repayments From Other Financing Activity
RepaymentsFromOtherFinancingActivity
0 usd
CY2021 pstl Repayments From Other Financing Activity
RepaymentsFromOtherFinancingActivity
53000 usd
CY2022 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
11446000 usd
CY2021 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
138795000 usd
CY2022 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
811000 usd
CY2021 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
1346000 usd
CY2022 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
199000 usd
CY2021 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
0 usd
CY2022 pstl Proceeds From Issuance Of Shares
ProceedsFromIssuanceOfShares
185000 usd
CY2021 pstl Proceeds From Issuance Of Shares
ProceedsFromIssuanceOfShares
127000 usd
CY2022 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
383000 usd
CY2021 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
242000 usd
CY2022 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
0 usd
CY2021 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-10000 usd
CY2022 us-gaap Payments Of Dividends
PaymentsOfDividends
21566000 usd
CY2021 us-gaap Payments Of Dividends
PaymentsOfDividends
15041000 usd
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
90572000 usd
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
93385000 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-4984000 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3271000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2042000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
7026000 usd
CY2022 pstl Noncash Or Part Noncash Acquisition Noncash Financial Or Equity Instrument Consideration Units Issued
NoncashOrPartNoncashAcquisitionNoncashFinancialOrEquityInstrumentConsiderationUnitsIssued
9433000 usd
CY2021 pstl Noncash Or Part Noncash Acquisition Noncash Financial Or Equity Instrument Consideration Units Issued
NoncashOrPartNoncashAcquisitionNoncashFinancialOrEquityInstrumentConsiderationUnitsIssued
15511000 usd
CY2022 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
8249000 usd
CY2021 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
960000 usd
CY2022 pstl Reallocation Of Non Controlling Interest Non Cash
ReallocationOfNonControllingInterestNonCash
1730000 usd
CY2021 pstl Reallocation Of Non Controlling Interest Non Cash
ReallocationOfNonControllingInterestNonCash
3435000 usd
CY2022 pstl Pstl Noncash Or Part Noncash Acquisition Noncash Financial Or Equity Instrument Consideration Units Issued For Business Acquisition
PstlNoncashOrPartNoncashAcquisitionNoncashFinancialOrEquityInstrumentConsiderationUnitsIssuedForBusinessAcquisition
1451000 usd
CY2021 pstl Pstl Noncash Or Part Noncash Acquisition Noncash Financial Or Equity Instrument Consideration Units Issued For Business Acquisition
PstlNoncashOrPartNoncashAcquisitionNoncashFinancialOrEquityInstrumentConsiderationUnitsIssuedForBusinessAcquisition
0 usd
CY2022 pstl Reclassification Of Acquisition Deposits
ReclassificationOfAcquisitionDeposits
696000 usd
CY2021 pstl Reclassification Of Acquisition Deposits
ReclassificationOfAcquisitionDeposits
792000 usd
CY2022 pstl Write Off Of Fixed Assets No Longer In Service
WriteOffOfFixedAssetsNoLongerInService
327000 usd
CY2021 pstl Write Off Of Fixed Assets No Longer In Service
WriteOffOfFixedAssetsNoLongerInService
40000 usd
CY2022 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
231000 usd
CY2021 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
660000 usd
CY2022 pstl Taxes Incurred But Not Yet Paid
TaxesIncurredButNotYetPaid
140000 usd
CY2021 pstl Taxes Incurred But Not Yet Paid
TaxesIncurredButNotYetPaid
99000 usd
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
131000 usd
CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1071000 usd
CY2022 pstl Costs Of Capital Incurred But Not Yet Paid
CostsOfCapitalIncurredButNotYetPaid
107000 usd
CY2021 pstl Costs Of Capital Incurred But Not Yet Paid
CostsOfCapitalIncurredButNotYetPaid
198000 usd
CY2022 pstl Reclassification Of Cost Of Capital
ReclassificationOfCostOfCapital
0 usd
CY2021 pstl Reclassification Of Cost Of Capital
ReclassificationOfCostOfCapital
137000 usd
CY2022 us-gaap Nature Of Operations
NatureOfOperations
Organization and Description of Business<div style="margin-top:12pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Postal Realty Trust, Inc. (the “Company”) was organized in the state of Maryland on November 19, 2018. On May 17, 2019, the Company completed its initial public offering (“IPO”) of the Company’s Class A common stock, par value $0.01 per share (the “Class A common stock”). The Company contributed the net proceeds from the IPO to Postal Realty LP, a Delaware limited partnership (the “Operating Partnership”), in exchange for common units of limited partnership interest in the Operating Partnership (the “OP Units”). Both the Company and the Operating Partnership commenced operations upon completion of the IPO and certain related formation transactions. Prior to the completion of the IPO and the formation transactions, the Company had no operations.</span></div><div style="margin-top:12pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company’s interest in the Operating Partnership entitles the Company to share in distributions from, and allocations of profits and losses of, the Operating Partnership in proportion to the Company’s percentage ownership of OP Units. As the sole general partner of the Operating Partnership, the Company has the exclusive power under the partnership agreement to manage and conduct the Operating Partnership’s business, subject to limited approval and voting rights of the limited partners. As of December 31, 2022, the Company held an approximately 80.8% interest in the Operating Partnership. As the sole general partner and the majority interest holder, the Company consolidates the financial position and results of operations of the Operating Partnership. The Operating Partnership is considered a variable interest entity (“VIE”) in which the Company is the primary beneficiary.</span></div><div style="margin-top:12pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of December 31, 2022, the Company owned a portfolio of 1,286 properties located in 49 states and one territory. The Company's properties are leased primarily to a single tenant, the United States Postal Service (the "USPS").</span></div><div style="margin-top:12pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition, through its taxable REIT subsidiary (“TRS”), Real Estate Asset Counseling, LLC (formerly known as Postal Realty Management TRS, LLC) (“REAC”), the Company provides fee-based third party property management services for an additional 397 properties, which are owned by Andrew Spodek, the Company's chief executive officer ("CEO"), and his affiliates, and certain advisory services to third-party owners of postal properties.</span></div><div style="text-indent:36pt"><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Pursuant to the Company’s articles of amendment and restatement, the Company is currently authorized to issue up to 500,000,000 shares of Class A common stock, 27,206 shares of Class B common stock, $0.01 par value per share (the “Voting Equivalency stock”), and up to 100,000,000 shares of preferred stock.</span></div><div style="text-indent:36pt"><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">The Company elected to be taxed as a real estate investment trust (“REIT”) under the Internal Revenue Code of 1986, as amended (the “Code”), commencing with the Company's short taxable year ended December 31, 2019, and intends to continue to qualify as a REIT. As a REIT, the Company generally will not be subject to federal income tax to the extent that it distributes its REIT taxable income for each tax year to its stockholders. REITs are subject to a number of organizational and operational requirements.</span></div><div style="margin-top:12pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Pursuant to the Jumpstart Our Business Startups Act, the Company qualifies as an emerging growth company (“EGC”). An EGC may choose, as the Company has done, to take advantage of the extended private company transition period provided for complying with new or revised accounting standards that may be issued by the Financial Accounting Standards Board (“FASB”) or the Securities and Exchange Commission.</span></div>
CY2022Q4 pstl Percentage Of Interest In Operating Partnership
PercentageOfInterestInOperatingPartnership
0.808
CY2022 us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:12pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in conformity with the U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities and the reported amounts of revenues and expenses during the reporting period. As discussed in the applicable sections elsewhere in the Consolidated Financial Statements, the Company’s most significant assumptions and estimates are related to the valuation of investments in real estate properties and impairment of long-lived assets. Although management believes its estimates are reasonable, actual results could differ from those estimates.</span></div>
CY2022Q4 us-gaap Cash
Cash
1495000 usd
CY2021Q4 us-gaap Cash
Cash
5857000 usd
CY2022Q4 us-gaap Restricted Cash
RestrictedCash
206000 usd
CY2021Q4 us-gaap Restricted Cash
RestrictedCash
827000 usd
CY2022Q4 pstl Real Estate Tax Reserve
RealEstateTaxReserve
240000 usd
CY2021Q4 pstl Real Estate Tax Reserve
RealEstateTaxReserve
250000 usd
CY2022Q4 pstl Espp Reserve
EsppReserve
101000 usd
CY2021Q4 pstl Espp Reserve
EsppReserve
92000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2042000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
7026000 usd
CY2022Q4 us-gaap Secured Debt Current
SecuredDebtCurrent
27500000 usd
CY2021Q4 us-gaap Secured Debt Current
SecuredDebtCurrent
32100000 usd
CY2022Q4 us-gaap Loans Payable Fair Value Disclosure
LoansPayableFairValueDisclosure
33100000 usd
CY2021Q4 us-gaap Loans Payable Fair Value Disclosure
LoansPayableFairValueDisclosure
33200000 usd
CY2022 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0 usd
CY2021 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0 usd
CY2022 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Concentration of Credit Risks</span></div><div style="margin-top:12pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of December 31, 2022, the Company’s properties were leased primarily to a single tenant, the USPS. For the year ended December 31, 2022, approximately 15.1% of the Company's total rental income, or $7.7 million, was concentrated in Pennsylvania. For the year ended December 31, 2021, approximately 18.3% of the Company's total rental income, or $7.0 million, was concentrated in Pennsylvania. The ability of the USPS to honor the terms of its leases is dependent upon regulatory, economic, environmental or competitive conditions in Pennsylvania or other regions where the Company operates in and could have a material effect on the Company’s overall business results.</span></div>The Company has deposited cash and maintains its bank deposits with large financial institutions in amounts that, from time to time, exceed federally insured limits. The Company has not experienced any losses in such accounts.
CY2022Q4 pstl Pstl Number Of Direct Financing Leases
PSTLNumberOfDirectFinancingLeases
2 lease
CY2022Q4 us-gaap Sales Type And Direct Financing Leases Lease Receivable
SalesTypeAndDirectFinancingLeasesLeaseReceivable
16100000 usd
CY2022Q1 pstl Number Of Properties Acquired
NumberOfPropertiesAcquired
50 property
CY2022Q1 us-gaap Payments For Proceeds From Real Estate Partnership Investment Net
PaymentsForProceedsFromRealEstatePartnershipInvestmentNet
27575000 usd
CY2022Q2 pstl Number Of Properties Acquired
NumberOfPropertiesAcquired
150 property
CY2022Q2 us-gaap Payments For Proceeds From Real Estate Partnership Investment Net
PaymentsForProceedsFromRealEstatePartnershipInvestmentNet
56744000 usd
CY2022Q3 pstl Number Of Properties Acquired
NumberOfPropertiesAcquired
66 property
CY2022Q3 us-gaap Payments For Proceeds From Real Estate Partnership Investment Net
PaymentsForProceedsFromRealEstatePartnershipInvestmentNet
21337000 usd
CY2022Q4 pstl Number Of Properties Acquired
NumberOfPropertiesAcquired
54 property
CY2022Q4 us-gaap Payments For Proceeds From Real Estate Partnership Investment Net
PaymentsForProceedsFromRealEstatePartnershipInvestmentNet
20735000 usd
CY2022 pstl Number Of Properties Acquired
NumberOfPropertiesAcquired
320 property
CY2022 us-gaap Payments For Proceeds From Real Estate Partnership Investment Net
PaymentsForProceedsFromRealEstatePartnershipInvestmentNet
126391000 usd
CY2021Q1 pstl Number Of Properties Acquired
NumberOfPropertiesAcquired
54 property
CY2021Q1 us-gaap Payments For Proceeds From Real Estate Partnership Investment Net
PaymentsForProceedsFromRealEstatePartnershipInvestmentNet
26215000 usd
CY2021Q2 pstl Number Of Properties Acquired
NumberOfPropertiesAcquired
71 property
CY2021Q2 us-gaap Payments For Proceeds From Real Estate Partnership Investment Net
PaymentsForProceedsFromRealEstatePartnershipInvestmentNet
31256000 usd
CY2021Q3 pstl Number Of Properties Acquired
NumberOfPropertiesAcquired
59 property
CY2021Q3 us-gaap Payments For Proceeds From Real Estate Partnership Investment Net
PaymentsForProceedsFromRealEstatePartnershipInvestmentNet
19637000 usd
CY2021Q4 pstl Number Of Properties Acquired
NumberOfPropertiesAcquired
54 property
CY2021Q4 us-gaap Payments For Proceeds From Real Estate Partnership Investment Net
PaymentsForProceedsFromRealEstatePartnershipInvestmentNet
28658000 usd
CY2021 pstl Number Of Properties Acquired
NumberOfPropertiesAcquired
238 property
CY2021 us-gaap Payments For Proceeds From Real Estate Partnership Investment Net
PaymentsForProceedsFromRealEstatePartnershipInvestmentNet
105766000 usd
CY2022Q1 pstl Acquisition Closing Costs
AcquisitionClosingCosts
600000 usd
CY2022Q2 pstl Acquisition Closing Costs
AcquisitionClosingCosts
1700000 usd
CY2021Q3 pstl Acquisition Closing Costs
AcquisitionClosingCosts
500000 usd
CY2022Q4 pstl Acquisition Closing Costs
AcquisitionClosingCosts
500000 usd
CY2022Q1 pstl Number Of Properties Acquired
NumberOfPropertiesAcquired
50 property
CY2022Q1 us-gaap Payments For Proceeds From Real Estate Partnership Investment Net
PaymentsForProceedsFromRealEstatePartnershipInvestmentNet
27600000 usd
CY2022Q2 pstl Number Of Properties Acquired
NumberOfPropertiesAcquired
150 property
CY2022Q2 us-gaap Payments For Proceeds From Real Estate Partnership Investment Net
PaymentsForProceedsFromRealEstatePartnershipInvestmentNet
56700000 usd
CY2022Q3 pstl Number Of Properties Acquired
NumberOfPropertiesAcquired
66 property
CY2022Q3 us-gaap Payments For Proceeds From Real Estate Partnership Investment Net
PaymentsForProceedsFromRealEstatePartnershipInvestmentNet
21300000 usd
CY2022Q4 pstl Number Of Properties Acquired
NumberOfPropertiesAcquired
54 property
CY2022Q4 us-gaap Payments For Proceeds From Real Estate Partnership Investment Net
PaymentsForProceedsFromRealEstatePartnershipInvestmentNet
20700000 usd
CY2022Q4 pstl Number Of Unfavorable Operating Lease Properties
NumberOfUnfavorableOperatingLeaseProperties
2 property
CY2021Q1 pstl Acquisition Closing Costs
AcquisitionClosingCosts
500000 usd
CY2021Q2 pstl Acquisition Closing Costs
AcquisitionClosingCosts
900000 usd
CY2021Q3 pstl Acquisition Closing Costs
AcquisitionClosingCosts
500000 usd
CY2021Q4 pstl Acquisition Closing Costs
AcquisitionClosingCosts
800000 usd
CY2021Q1 pstl Number Of Properties Acquired
NumberOfPropertiesAcquired
54 property
CY2021Q1 us-gaap Payments For Proceeds From Real Estate Partnership Investment Net
PaymentsForProceedsFromRealEstatePartnershipInvestmentNet
26200000 usd
CY2021Q2 pstl Number Of Properties Acquired
NumberOfPropertiesAcquired
71 property
CY2021Q2 us-gaap Payments For Proceeds From Real Estate Partnership Investment Net
PaymentsForProceedsFromRealEstatePartnershipInvestmentNet
31300000 usd
CY2021Q3 pstl Number Of Properties Acquired
NumberOfPropertiesAcquired
59 property
CY2021Q3 us-gaap Payments For Proceeds From Real Estate Partnership Investment Net
PaymentsForProceedsFromRealEstatePartnershipInvestmentNet
19600000 usd
CY2021Q4 pstl Number Of Properties Acquired
NumberOfPropertiesAcquired
54 property
CY2021Q4 us-gaap Payments For Proceeds From Real Estate Partnership Investment Net
PaymentsForProceedsFromRealEstatePartnershipInvestmentNet
28700000 usd
CY2022Q4 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
19077000 usd
CY2022Q4 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
7256000 usd
CY2022Q4 us-gaap Below Market Lease Net
BelowMarketLeaseNet
11821000 usd
CY2021Q4 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
13654000 usd
CY2021Q4 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
4984000 usd
CY2021Q4 us-gaap Below Market Lease Net
BelowMarketLeaseNet
8670000 usd
CY2022 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
7000000 usd
CY2021 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
6300000 usd
CY2022 pstl Amortization Of Above Market Lease
AmortizationOfAboveMarketLease
100000 usd
CY2021 pstl Amortization Of Above Market Lease
AmortizationOfAboveMarketLease
30000.00 usd
CY2022 us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
2300000 usd
CY2021 us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
1600000 usd
CY2022 us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife
P8Y9M18D
CY2022Q4 us-gaap Below Market Lease Amortization Income Next Twelve Months
BelowMarketLeaseAmortizationIncomeNextTwelveMonths
2348000 usd
CY2022Q4 us-gaap Below Market Lease Amortization Income Year Two
BelowMarketLeaseAmortizationIncomeYearTwo
1953000 usd
CY2022Q4 us-gaap Below Market Lease Amortization Income Year Three
BelowMarketLeaseAmortizationIncomeYearThree
1388000 usd
CY2022Q4 us-gaap Below Market Lease Amortization Income Year Four
BelowMarketLeaseAmortizationIncomeYearFour
1111000 usd
CY2022Q4 us-gaap Below Market Lease Amortization Income Year Five
BelowMarketLeaseAmortizationIncomeYearFive
877000 usd
CY2022Q4 us-gaap Below Market Lease Amortization Income After Year Five
BelowMarketLeaseAmortizationIncomeAfterYearFive
4144000 usd
CY2022Q4 us-gaap Below Market Lease Net
BelowMarketLeaseNet
11821000 usd
CY2022Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
198093000 usd
CY2021Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
96193000 usd
CY2022Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
1431000 usd
CY2021Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
844000 usd
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
196662000 usd
CY2021Q4 us-gaap Long Term Debt
LongTermDebt
95349000 usd
CY2022 pstl Weighted Average Maturity Date For Secured Borrowing Term
WeightedAverageMaturityDateForSecuredBorrowingTerm
P5Y6M
CY2021 pstl Weighted Average Maturity Date For Secured Borrowing Term
WeightedAverageMaturityDateForSecuredBorrowingTerm
P6Y6M
CY2022 us-gaap Interest Paid Net
InterestPaidNet
5100000 usd
CY2021 us-gaap Interest Paid Net
InterestPaidNet
2700000 usd
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
106000 usd
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
112000 usd
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
118000 usd
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
636000 usd
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
50776000 usd
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
146345000 usd
CY2022Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
198093000 usd
CY2022Q4 us-gaap Interest Rate Cash Flow Hedge Gain Loss To Be Reclassified During Next12 Months Net
InterestRateCashFlowHedgeGainLossToBeReclassifiedDuringNext12MonthsNet
4900000 usd
CY2021 us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
38276000 usd
CY2022 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-6000000 usd
CY2021 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-3700000 usd
CY2022Q4 pstl Lessor Direct Financing Lease Number
LessorDirectFinancingLeaseNumber
2 lease
CY2022 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
43808000 usd
CY2021 us-gaap Operating Leases Income Statement Minimum Lease Revenue
OperatingLeasesIncomeStatementMinimumLeaseRevenue
32769000 usd
CY2022 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
7068000 usd
CY2021 pstl Operating Lease Lease Income Variable Leases
OperatingLeaseLeaseIncomeVariableLeases
5507000 usd
CY2022 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
50876000 usd
CY2022Q4 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
41181000 usd
CY2022Q4 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
36545000 usd
CY2022Q4 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
30777000 usd
CY2022Q4 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
22732000 usd
CY2022Q4 us-gaap Lessor Operating Lease Payments To Be Received Five Years
LessorOperatingLeasePaymentsToBeReceivedFiveYears
12452000 usd
CY2022Q4 us-gaap Lessor Operating Lease Payments To Be Received Thereafter
LessorOperatingLeasePaymentsToBeReceivedThereafter
14091000 usd
CY2022Q4 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
157778000 usd
CY2022Q4 pstl Number Of Expired Leases
NumberOfExpiredLeases
81 property
CY2022Q4 pstl Lessor Operating Lease Lessee Option To Purchase Underlying Asset Number
LessorOperatingLeaseLesseeOptionToPurchaseUnderlyingAssetNumber
60 property
CY2022Q4 pstl Lessor Operating Lease Lessee Option To Purchase Underlying Asset Number Purchase Price Greater Than Value Of Underlying Asset
LessorOperatingLeaseLesseeOptionToPurchaseUnderlyingAssetNumberPurchasePriceGreaterThanValueOfUnderlyingAsset
57 property
CY2022Q4 pstl Lessor Operating Lease Lessee Option To Purchase Underlying Asset Purchase Price Greater Than Value Of Underlying Asset Consideration
LessorOperatingLeaseLesseeOptionToPurchaseUnderlyingAssetPurchasePriceGreaterThanValueOfUnderlyingAssetConsideration
44800000 usd
CY2022Q4 pstl Lessor Operating Lease Lessee Option To Purchase Underlying Asset Purchase Price Greater Than Value Of Underlying Assets Aggregate Purchase Price
LessorOperatingLeaseLesseeOptionToPurchaseUnderlyingAssetPurchasePriceGreaterThanValueOfUnderlyingAssetsAggregatePurchasePrice
53500000 usd
CY2022Q4 pstl Lessor Operating Lease Lessee Option To Purchase Underlying Asset Number Purchase Price Less Than Or Equal To Underlying Asset
LessorOperatingLeaseLesseeOptionToPurchaseUnderlyingAssetNumberPurchasePriceLessThanOrEqualToUnderlyingAsset
3 property
CY2022Q4 pstl Lessor Operating Lease Lessee Option To Purchase Underlying Assets Number Purchase Price Less Than Or Equal To Underlying Asset Consideration
LessorOperatingLeaseLesseeOptionToPurchaseUnderlyingAssetsNumberPurchasePriceLessThanOrEqualToUnderlyingAssetConsideration
2600000 usd
CY2022Q4 pstl Lessor Direct Financing Lease Number
LessorDirectFinancingLeaseNumber
2 property
CY2022Q4 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceived
33215000 usd
CY2021Q4 us-gaap Capital Leases Net Investment In Direct Financing Leases Minimum Payments To Be Received
CapitalLeasesNetInvestmentInDirectFinancingLeasesMinimumPaymentsToBeReceived
34352000 usd
CY2022Q4 us-gaap Sales Type And Direct Financing Leases Lease Receivable Undiscounted Excess Amount
SalesTypeAndDirectFinancingLeasesLeaseReceivableUndiscountedExcessAmount
17085000 usd
CY2021Q4 us-gaap Capital Leases Net Investment In Direct Financing Leases Deferred Income
CapitalLeasesNetInvestmentInDirectFinancingLeasesDeferredIncome
18139000 usd
CY2022Q4 us-gaap Capital Leases Net Investment In Direct Financing Leases
CapitalLeasesNetInvestmentInDirectFinancingLeases
16130000 usd
CY2021Q4 us-gaap Capital Leases Net Investment In Direct Financing Leases
CapitalLeasesNetInvestmentInDirectFinancingLeases
16213000 usd
CY2022 us-gaap Direct Financing Lease Revenue
DirectFinancingLeaseRevenue
1100000 usd
CY2021 us-gaap Capital Leases Income Statement Direct Financing Lease Revenue
CapitalLeasesIncomeStatementDirectFinancingLeaseRevenue
200000 usd
CY2022Q4 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Next Twelve Months
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedNextTwelveMonths
1137000 usd
CY2022Q4 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Two Years
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedTwoYears
1137000 usd
CY2022Q4 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Three Years
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedThreeYears
1137000 usd
CY2022Q4 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Four Years
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedFourYears
1137000 usd
CY2022Q4 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Five Years
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedFiveYears
1137000 usd
CY2022Q4 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Thereafter
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedThereafter
27530000 usd
CY2022Q4 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceived
33215000 usd
CY2021Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1200000 usd
CY2021Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
1200000 usd
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P22Y7M6D
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1010000 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
1014000 usd
CY2021 us-gaap Operating Lease Expense
OperatingLeaseExpense
200000 usd
CY2022 us-gaap Operating Lease Expense
OperatingLeaseExpense
200000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
245000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
121000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
46000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
43000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
43000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
1388000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1886000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
872000 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
1014000 usd
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
20000.00 usd
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
200000 usd
CY2022 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
10000.00 usd
CY2021 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
40000.00 usd
CY2022Q4 us-gaap Decrease In Unrecognized Tax Benefits Is Reasonably Possible
DecreaseInUnrecognizedTaxBenefitsIsReasonablyPossible
20000.00 usd
CY2022 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
200000 usd
CY2022 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
200000 usd
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
188000 usd
CY2020Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
364000 usd
CY2022 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
165000 usd
CY2021 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
176000 usd
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
23000 usd
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
188000 usd
CY2022 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
100000 usd
CY2021 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
100000 usd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
3854000 usd
CY2021 us-gaap Net Income Loss
NetIncomeLoss
2055000 usd
CY2022 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
997000 usd
CY2022 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
997000 usd
CY2021 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
658000 usd
CY2021 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
658000 usd
CY2022 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
2857000 usd
CY2022 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
2857000 usd
CY2021 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1397000 usd
CY2021 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
1397000 usd
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
18545494 shares
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
18545494 shares
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
13689251 shares
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
13689251 shares
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.15
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.15
CY2021 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.10
CY2021 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.10
CY2021 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.885
CY2022Q4 pstl Noncontrolling Interests Op Units
NoncontrollingInterestsOpUnits
4133619 shares
CY2022Q4 pstl Noncontrolling Interest Ltip Units
NoncontrollingInterestLtipUnits
536868 shares
CY2021Q4 pstl Noncontrolling Interests Op Units
NoncontrollingInterestsOpUnits
3472221 shares
CY2021Q4 pstl Noncontrolling Interest Ltip Units
NoncontrollingInterestLtipUnits
375265 shares
CY2022Q4 pstl Outstanding Partnership Percentage
OutstandingPartnershipPercentage
0.192
CY2021Q4 pstl Outstanding Partnership Percentage
OutstandingPartnershipPercentage
0.171
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
1198736 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
806570 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
15.71
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
490164 shares
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
80141 shares
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
16.59
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
1149 shares
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
17.49
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
1215444 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
16.12
CY2022 pstl Employee Benefits And Share Based Compensation Portion Included In General And Administrative Expenses
EmployeeBenefitsAndShareBasedCompensationPortionIncludedInGeneralAndAdministrativeExpenses
4300000 usd
CY2022 pstl Employee Benefits And Share Based Compensation Portion Included In Property Operating Expenses
EmployeeBenefitsAndShareBasedCompensationPortionIncludedInPropertyOperatingExpenses
400000 usd
CY2021 pstl Employee Benefits And Share Based Compensation Portion Included In General And Administrative Expenses
EmployeeBenefitsAndShareBasedCompensationPortionIncludedInGeneralAndAdministrativeExpenses
3400000 usd
CY2021 pstl Employee Benefits And Share Based Compensation Portion Included In Property Operating Expenses
EmployeeBenefitsAndShareBasedCompensationPortionIncludedInPropertyOperatingExpenses
200000 usd
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
1200000 usd
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
1600000 usd
CY2022Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
11700000 usd
CY2022 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P5Y2M12D
CY2022 srt Sec Schedule Iii Real Estate Number Of Units
SECScheduleIIIRealEstateNumberOfUnits
1284 property
CY2022Q4 srt Real Estate And Accumulated Depreciation Amount Of Encumbrances
RealEstateAndAccumulatedDepreciationAmountOfEncumbrances
33093000 usd
CY2022Q4 us-gaap Real Estate And Accumulated Depreciation Initial Cost Of Land
RealEstateAndAccumulatedDepreciationInitialCostOfLand
90020000 usd
CY2022Q4 us-gaap Real Estate And Accumulated Depreciation Initial Cost Of Buildings And Improvements
RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements
378319000 usd
CY2022Q4 pstl Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition
RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisition
7083000 usd
CY2022Q4 us-gaap Real Estate And Accumulated Depreciation Carrying Amount Of Land
RealEstateAndAccumulatedDepreciationCarryingAmountOfLand
90020000 usd
CY2022Q4 us-gaap Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements
RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements
384971000 usd
CY2022Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
474991000 usd
CY2022Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
31257000 usd
CY2022 pstl Number Of Properties Accounted For As Direct Financing Leases
NumberOfPropertiesAccountedForAsDirectFinancingLeases
2 property
CY2022Q4 srt Real Estate Federal Income Tax Basis
RealEstateFederalIncomeTaxBasis
498600000 usd
CY2021Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
348365000 usd
CY2020Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
247072000 usd
CY2022 us-gaap Real Estate Other Acquisitions
RealEstateOtherAcquisitions
123719000 usd
CY2021 us-gaap Real Estate Other Acquisitions
RealEstateOtherAcquisitions
99006000 usd
CY2022 us-gaap Real Estate Improvements
RealEstateImprovements
3251000 usd
CY2021 us-gaap Real Estate Improvements
RealEstateImprovements
2492000 usd
CY2022 us-gaap Sec Schedule Iii Real Estate Writedown Or Reserve Amount
SECScheduleIIIRealEstateWritedownOrReserveAmount
322000 usd
CY2021 us-gaap Sec Schedule Iii Real Estate Writedown Or Reserve Amount
SECScheduleIIIRealEstateWritedownOrReserveAmount
37000 usd
CY2022 us-gaap Real Estate Other Deductions
RealEstateOtherDeductions
22000 usd
CY2021 us-gaap Real Estate Other Deductions
RealEstateOtherDeductions
168000 usd
CY2022Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
474991000 usd
CY2021Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
348365000 usd
CY2021Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
20884000 usd
CY2020Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
13215000 usd
CY2022 us-gaap Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
10695000 usd
CY2021 us-gaap Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
7706000 usd
CY2022 us-gaap Sec Schedule Iii Real Estate Writedown Or Reserve Amount
SECScheduleIIIRealEstateWritedownOrReserveAmount
322000 usd
CY2021 us-gaap Sec Schedule Iii Real Estate Writedown Or Reserve Amount
SECScheduleIIIRealEstateWritedownOrReserveAmount
37000 usd
CY2022Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
31257000 usd
CY2021Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
20884000 usd

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