Plaza Retail REIT (TSE:PLZ.UN) Sets New 1-Year High – Still a Buy?

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

Wall Street Analyst Weigh In

PLZ.UN has been the topic of several research analyst reports. Desjardins boosted their price objective on Plaza Retail REIT from C$4.75 to C$5.00 and gave the company a “buy” rating in a report 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 research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$4.88.

Plaza Retail REIT Trading Up 1.3%

The company has a current ratio of 0.22, a quick ratio of 0.06 and a debt-to-equity ratio of 124.16. The company has a market cap of C$514.76 million, a PE ratio of 8.77 and a beta of 0.75. The business has a 50 day simple moving average of C$4.43 and a two-hundred day simple moving average of C$4.33.

Plaza Retail REIT (TSE:PLZ.UN) last issued its earnings results on Wednesday, May 13th. The company reported C$0.12 earnings per share for the quarter. The firm had revenue of C$32.51 million for 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 company also recently disclosed a monthly dividend, which will be paid on Monday, June 15th. Stockholders 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 6.0%. Plaza Retail REIT’s dividend payout ratio (DPR) is currently 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.