Plaza Retail REIT (TSE:PLZ.UN) Hits New 12-Month High – Time to Buy?

Shares of Plaza Retail REIT (TSE:PLZ.UN) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$4.54 and last traded at C$4.50, with a volume of 98105 shares traded. The stock had previously closed at C$4.42.

Analyst Upgrades and Downgrades

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

Plaza Retail REIT Price Performance

The company has a market cap of C$499.30 million, a PE ratio of 8.50 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 stock has a 50 day moving average of C$4.40 and a 200-day moving average of C$4.31.

Plaza Retail REIT (TSE:PLZ.UN) last issued its earnings results on Wednesday, May 13th. The company reported C$0.12 earnings per share (EPS) for the quarter. The company 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 business also recently disclosed a monthly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 15th will be paid a dividend of $0.0233 per share. The ex-dividend date is Friday, May 29th. This represents a c) dividend on an annualized basis and a dividend yield of 6.2%. Plaza Retail REIT’s dividend payout ratio (DPR) 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.