Canaccord Genuity Group Boosts Plaza Retail REIT (TSE:PLZ.UN) Price Target to C$4.25

Plaza Retail REIT (TSE:PLZ.UN) had its price objective lifted by Canaccord Genuity Group from C$4.00 to C$4.25 in a research report sent to investors on Monday, BayStreet.CA reports. Canaccord Genuity Group currently has a buy rating on the stock.

PLZ.UN has been the topic of a number of other research reports. Laurentian lowered Plaza Retail REIT from a buy rating to a hold rating and dropped their target price for the company from C$4.50 to C$4.25 in a research report on Monday, January 22nd. Royal Bank of Canada decreased their price target on Plaza Retail REIT from C$4.25 to C$4.00 and set a sector perform rating for the company in a research note on Tuesday, February 27th.

Plaza Retail REIT Stock Up 0.6 %

Shares of Plaza Retail REIT stock opened at C$3.59 on Monday. The business’s 50 day simple moving average is C$3.53 and its 200 day simple moving average is C$3.59. Plaza Retail REIT has a 52-week low of C$3.40 and a 52-week high of C$4.17. The firm has a market cap of C$396.23 million, a PE ratio of 19.83 and a beta of 1.04. The company has a debt-to-equity ratio of 123.28, a quick ratio of 0.06 and a current ratio of 0.17.

Plaza Retail REIT Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 15th were paid a $0.0233 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $0.28 dividend on an annualized basis and a yield of 7.79%. Plaza Retail REIT’s dividend payout ratio is 155.56%.

Insider Buying and Selling at Plaza Retail REIT

In related news, Senior Officer Stephen Penney purchased 11,250 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was purchased at an average cost of C$3.55 per share, for a total transaction of C$39,937.50. Corporate insiders own 35.17% of the company’s stock.

Plaza Retail REIT Company Profile

Plaza is an open-ended real estate investment trust and is a leading retail property owner and developer, focused on Ontario, Quebec and Atlantic Canada. Plaza's portfolio at December 31, 2018 includes interests in 287 properties totaling approximately 8.2 million square feet across Canada and additional lands held for development.