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    Nahom Tesfazghi

    Research Analyst at J.P. Morgan

    Nahom Tesfazghi is an Equity Research Analyst at J.P. Morgan, where he specializes in covering real estate companies with a focus on stocks such as Postal Realty Trust and related publicly traded property firms. His research roles at the firm involve analysis and publication of earnings reports, particularly in the real estate sector, providing thorough insight into market performance and company prospects. Tesfazghi began his career at J.P. Morgan and has held the analyst position there in recent years, with no publicly documented prior firms. He is a registered broker with J.P. Morgan Securities LLC and holds active FINRA licensure, confirming his credentials to provide investment analysis and recommendations.

    Nahom Tesfazghi's questions to Postal Realty Trust (PSTL) leadership

    Nahom Tesfazghi's questions to Postal Realty Trust (PSTL) leadership • Q2 2025

    Question

    Nahom Tesfazghi from J.P. Morgan asked for details on the acquisition strategy, specifically seeking to understand the operational efficiencies that lead to a higher stabilized yield compared to the initial acquisition cap rate.

    Answer

    CEO Andrew Spodek explained that while acquisitions are immediately accretive at a 7.5%+ cap rate, further value is unlocked in two stages. First, through immediate operational efficiencies from their large-scale management platform, and second, through their programmatic re-leasing process upon lease expiration, which marks rents to market and has driven significant same-store NOI growth.

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    Nahom Tesfazghi's questions to Anywhere Real Estate (HOUS) leadership

    Nahom Tesfazghi's questions to Anywhere Real Estate (HOUS) leadership • Q4 2024

    Question

    Nahom Tesfazghi asked how much the adjustment for noncash compensation and legal matters impacts the 2025 EBITDA guidance of $350 million compared to the old definition.

    Answer

    CFO Charlotte Simonelli stated the impact is not material, noting the adjustments were $12 million in 2023 and $17 million in 2024. CEO Ryan Schneider added that on an apples-to-apples basis, the guidance represents $60 million of EBITDA growth from 2024 to 2025, with no distortion from the definition change.

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