Plaza Retail REIT (TSE:PLZ.UN) Stock Price Passes Above Fifty Day Moving Average – Here’s Why

Shares of Plaza Retail REIT (TSE:PLZ.UN) crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of C$4.49 and traded as high as C$4.73. Plaza Retail REIT shares last traded at C$4.70, with a volume of 20,134 shares trading hands.

Analysts Set New Price Targets

A number of research firms recently issued reports on PLZ.UN. Desjardins lifted their price target 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 price target 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 note on Wednesday, March 4th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of C$4.88.

Plaza Retail REIT Stock Performance

The stock’s 50-day moving average price is C$4.51 and its 200 day moving average price is C$4.36. The firm has a market cap of C$520.29 million, a P/E ratio of 8.86 and a beta of 0.75. 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 quarterly earnings results on Wednesday, May 13th. The company reported C$0.12 earnings per share (EPS) for the quarter. Plaza Retail REIT had a net margin of 9.40% and a return on equity of 2.07%. The firm had revenue of C$32.51 million for the quarter.

Plaza Retail REIT Dividend Announcement

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