Plaza Retail REIT (TSE:PLZ.UN) Hits New 12-Month High – Should You Buy?

Plaza Retail REIT (TSE:PLZ.UN) hit a new 52-week high on Tuesday . The stock traded as high as C$4.54 and last traded at C$4.50, with a volume of 98105 shares traded. The stock had previously closed at C$4.42.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on PLZ.UN shares. Desjardins raised their target price on Plaza Retail REIT from C$4.75 to C$5.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Royal Bank Of Canada raised their target price on Plaza Retail REIT from C$4.50 to C$4.75 and gave the stock a “sector perform” rating in a research report on Wednesday, March 4th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$4.88.

Plaza Retail REIT Trading Up 0.2%

The stock has a market capitalization of C$503.72 million, a price-to-earnings ratio of 8.58 and a beta of 0.75. The company has a debt-to-equity ratio of 124.16, a quick ratio of 0.06 and a current ratio of 0.22. The business has a 50-day moving average of C$4.42 and a 200-day moving average of C$4.32.

Plaza Retail REIT (TSE:PLZ.UN) last announced its earnings results on Wednesday, May 13th. The company reported C$0.12 earnings per share (EPS) for the quarter. The firm had revenue of C$32.51 million during the quarter. Plaza Retail REIT had a return on equity of 2.07% and a net margin of 9.40%.

Plaza Retail REIT Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 15th will be given a $0.0233 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a c) dividend on an annualized basis and a dividend yield of 6.1%. 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.