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

Plaza Retail REIT (TSE:PLZ.UN) posted its quarterly earnings data on Wednesday. The company reported C$0.12 earnings per share for the quarter, FiscalAI reports. The firm 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 Price Performance

PLZ.UN stock opened at C$4.45 on Friday. 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’s 50-day moving average price is C$4.36 and its 200 day moving average price is C$4.26. Plaza Retail REIT has a 52 week low of C$3.74 and a 52 week high of C$4.54. The company has a market cap of C$491.48 million, a P/E ratio of 8.89 and a beta of 0.72.

Plaza Retail REIT Dividend Announcement

The business also recently declared 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) dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend date is Thursday, April 30th. Plaza Retail REIT’s dividend payout ratio (DPR) is currently 55.92%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Desjardins lifted 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 increased their price target on shares of Plaza Retail REIT from C$4.50 to C$4.75 and gave the stock 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 stock. Based on data from MarketBeat, Plaza Retail REIT presently has an average rating of “Moderate Buy” and an average price target of C$4.88.

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.