Plaza Retail REIT (TSE:PLZ.UN) Sets New 1-Year High – Here’s Why

Plaza Retail REIT (TSE:PLZ.UN)’s share price hit a new 52-week high during trading on Wednesday . The company 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.

Analyst Upgrades and Downgrades

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

Plaza Retail REIT Price Performance

The stock has a market cap of C$520.29 million, a PE ratio of 8.86 and a beta of 0.75. The stock’s fifty day moving average is C$4.51 and its 200-day moving average is C$4.36. 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 issued its earnings results on Wednesday, May 13th. The company reported C$0.12 EPS for the quarter. The company had revenue of C$32.51 million for the quarter. Plaza Retail REIT had a net margin of 9.40% and a return on equity of 2.07%.

Plaza Retail REIT Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 15th will be given a dividend of $0.0233 per share. This represents a c) annualized dividend and a dividend yield of 5.9%. The ex-dividend date of this dividend is Tuesday, June 30th. Plaza Retail REIT’s payout ratio is presently 52.66%.

About Plaza Retail REIT

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.