Plaza Retail REIT (TSE:PLZ.UN) Stock Passes Above 50 Day Moving Average – Here’s Why

Plaza Retail REIT (TSE:PLZ.UN) shares passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$4.39 and traded as high as C$4.50. Plaza Retail REIT shares last traded at C$4.44, with a volume of 66,185 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Royal Bank Of Canada boosted their price target on Plaza Retail REIT from C$4.50 to C$4.75 and gave the company a “sector perform” rating in a report on Wednesday, March 4th. Desjardins boosted their price target on Plaza Retail REIT from C$4.75 to C$5.00 and gave the company a “buy” rating in a report on Wednesday, March 4th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$4.88.

Plaza Retail REIT Trading Up 0.5%

The firm has a market capitalization of C$492.67 million, a price-to-earnings ratio of 8.39 and a beta of 0.75. The company has a debt-to-equity ratio of 124.16, a quick ratio of 0.06 and a current ratio of 0.22. The business has a fifty day moving average price of C$4.40 and a 200 day moving average price of C$4.31.

Plaza Retail REIT (TSE:PLZ.UN) last released its quarterly earnings data on Wednesday, May 13th. The company reported C$0.12 EPS for the quarter. The business had revenue of C$32.51 million during the quarter. Plaza Retail REIT had a return on equity of 2.07% and a net margin of 9.40%.

Plaza Retail REIT Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 15th will be issued a dividend of $0.0233 per share. This represents a c) dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend date is Friday, May 29th. Plaza Retail REIT’s dividend payout ratio is presently 52.66%.

Plaza Retail REIT Company Profile

Plaza Retail REIT is an open-ended real estate investment trust and is a retail property owner and developer, focused on Ontario, Quebec and Atlantic Canada. Plaza’s portfolio includes interests in approximately 268 properties totaling approximately 8.6 million square feet across Canada and additional lands held for development. Its portfolio largely consists of open-air centres and stand-alone small box retail outlets and is predominantly occupied by national tenants.