Andrew Spodek, CEO at Postal Realty Trust (PSTL), recently added 10,000 shares. The buy increased his stake by 1 percent, and came to a total cost of $137,500.
The CEO has made a total of 5 buys since mid-August, picking up nearly 40,000 shares in total. Going further back, the company CFO sold shares in June and July, and company directors were buyers in the middle of last year.
Overall, company insiders own about 6 percent of shares.
The real estate investment trust (REIT), which mostly owns facilities leased out to the United States Postal Service (USPS), is down about 10 percent over the past year.
That’s less of a drop compared to other REITs, as there has been rising uncertainty in the office and retail sectors over higher payments and the potential for rising vacancies at a property.
Action to take: Shares have recently dropped to a 52-week low ahead of a possible government shutdown. That’s pushed the REIT’s dividend up to 7.2 percent.
Investors can expect some move higher in the coming months as the shutdown ends. The company’s overall growth is limited, so most returns will come from the yield over time.
For traders, the end of government shutdown fears should lead to a snap higher for shares. The January 2024 $15 calls, last going for about $0.15, could see returns in the triple-digit range should shares jump higher in the coming weeks.
Disclosure: The author of this article has no position in the company mentioned here, but may trade after the next 72 hours. The author receives no compensation from any of the companies mentioned in this article.