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

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

Wall Street Analyst Weigh In

Several analysts have issued reports on PLZ.UN shares. Royal Bank Of Canada increased their target price on 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. Desjardins increased their target price on 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. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Plaza Retail REIT currently has an average rating of “Moderate Buy” and an average target price of C$4.88.

Plaza Retail REIT Stock Performance

The firm has a fifty day moving average price of C$4.40 and a 200 day moving average price of C$4.31. 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 market cap of C$499.30 million, a PE ratio of 8.50 and a beta of 0.75.

Plaza Retail REIT (TSE:PLZ.UN) last issued its quarterly earnings data 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 firm had revenue of C$32.51 million during the quarter.

Plaza Retail REIT Announces Dividend

The firm 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) annualized dividend and a dividend yield of 6.2%. 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.