Plaza Retail REIT (TSE:PLZ.UN) Sets New 12-Month High – What’s Next?

Shares of Plaza Retail REIT (TSE:PLZ.UN) reached a new 52-week high during trading on Wednesday . The stock traded as high as C$4.74 and last traded at C$4.72, with a volume of 10946 shares changing hands. The stock had previously closed at C$4.70.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PLZ.UN. Desjardins lifted their price objective on shares of Plaza Retail REIT from C$4.75 to C$5.00 and gave the company a “buy” rating in a research report on Wednesday, March 4th. Royal Bank Of Canada upped their price target on Plaza Retail REIT from C$4.50 to C$4.75 and gave the stock a “sector perform” rating in a report on Wednesday, March 4th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Plaza Retail REIT has a consensus rating of “Moderate Buy” and a consensus price target of C$4.88.

Plaza Retail REIT Stock Performance

The firm has a market cap of C$519.18 million, a price-to-earnings ratio of 8.84 and a beta of 0.75. The business’s 50-day moving average price is C$4.49 and its two-hundred day moving average price is C$4.35. The company has a debt-to-equity ratio of 124.16, a current ratio of 0.22 and a quick ratio of 0.06.

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

Plaza Retail REIT Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 15th will be paid a dividend of $0.0233 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a c) dividend on an annualized basis and a yield of 5.9%. Plaza Retail REIT’s dividend payout ratio (DPR) is currently 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.