Plaza Retail REIT (TSE:PLZ.UN) Announces Quarterly Earnings Results

Plaza Retail REIT (TSE:PLZ.UN) posted its earnings results on Wednesday. The company reported C$0.12 earnings per share for the quarter, FiscalAI reports. The company had revenue of C$32.51 million for the quarter. Plaza Retail REIT had a net margin of 9.40% and a return on equity of 2.07%.

Plaza Retail REIT Stock Performance

Shares of PLZ.UN stock opened at C$4.44 on Thursday. The firm’s 50 day moving average price is C$4.36 and its 200-day moving average price is C$4.26. The company has a debt-to-equity ratio of 124.16, a quick ratio of 0.06 and a current ratio of 0.22. Plaza Retail REIT has a one year low of C$3.74 and a one year high of C$4.54. The firm has a market cap of C$490.37 million, a P/E ratio of 8.87 and a beta of 0.72.

Plaza Retail REIT Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, May 15th. Stockholders of record on Friday, May 15th will be issued a $0.0233 dividend. This represents a c) annualized dividend and a dividend yield of 6.3%. The ex-dividend date is Thursday, April 30th. Plaza Retail REIT’s dividend payout ratio is currently 55.92%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PLZ.UN. Desjardins boosted their target price on shares of 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 boosted 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 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$4.88.

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.