Plaza Retail REIT (TSE:PLZ.UN) Lowered to Hold Rating by Desjardins

Desjardins cut shares of Plaza Retail REIT (TSE:PLZ.UN) from a buy rating to a hold rating in a report released on Friday,BayStreet.CA reports. Desjardins currently has C$5.50 target price on the stock, up from their previous target price of C$5.00.

Plaza Retail REIT Price Performance

PLZ.UN stock opened at C$5.20 on Friday. The stock’s 50 day moving average is C$4.90 and its two-hundred day moving average is C$4.54. Plaza Retail REIT has a 52-week low of C$3.96 and a 52-week high of C$5.34. The company has a market capitalization of C$574.41 million, a PE ratio of 9.78 and a beta of 0.75. The company has a quick ratio of 0.06, a current ratio of 0.22 and a debt-to-equity ratio of 124.16.

Plaza Retail REIT (TSE:PLZ.UN) last released its earnings results on Wednesday, August 5th. The company reported C$0.15 EPS for the quarter. Plaza Retail REIT had a return on equity of 2.07% and a net margin of 9.40%.The company had revenue of C$32.19 million during the quarter.

Plaza Retail REIT Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, August 17th. Stockholders of record on Monday, August 17th will be given a $0.0233 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a c) annualized dividend and a dividend yield of 5.4%. Plaza Retail REIT’s payout ratio is presently 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.