Plaza Retail REIT (TSE:PLZ.UN) Reaches New 52-Week High – Here’s What Happened

Plaza Retail REIT (TSE:PLZ.UN) shares reached a new 52-week high on Monday . The stock traded as high as C$4.63 and last traded at C$4.65, with a volume of 35414 shares traded. The stock had previously closed at C$4.60.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PLZ.UN. Desjardins increased their price objective on Plaza Retail REIT from C$4.75 to C$5.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. Royal Bank Of Canada boosted their price objective 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 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, Plaza Retail REIT currently has an average rating of “Moderate Buy” and a consensus price target of C$4.88.

Plaza Retail REIT Stock Up 1.3%

The company has a quick ratio of 0.06, a current ratio of 0.22 and a debt-to-equity ratio of 124.16. The business has a fifty day simple moving average of C$4.43 and a two-hundred day simple moving average of C$4.33. The company has a market capitalization of C$514.76 million, a price-to-earnings ratio of 8.77 and a beta of 0.75.

Plaza Retail REIT (TSE:PLZ.UN) last released its quarterly earnings results on Wednesday, May 13th. The company reported C$0.12 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 firm also recently disclosed a monthly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 15th will be issued a $0.0233 dividend. This represents a c) annualized dividend and a yield of 6.0%. The ex-dividend date is Friday, May 29th. Plaza Retail REIT’s dividend payout ratio 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.