Plaza Retail REIT (TSE:PLZ.UN) Downgraded to “Hold” Rating by Desjardins

Plaza Retail REIT (TSE:PLZ.UN) was downgraded by equities research analysts at Desjardins from a “buy” rating to a “hold” rating in a report issued on Friday,BayStreet.CA reports. They currently have a C$5.50 price objective on the stock, up from their prior price objective of C$5.00. Desjardins’ price objective indicates a potential upside of 4.56% from the company’s previous close.

Plaza Retail REIT Trading Down 1.1%

Shares of PLZ.UN traded down C$0.06 during trading hours on Friday, hitting C$5.26. 78,983 shares of the stock traded hands, compared to its average volume of 72,391. The business has a fifty day moving average of C$4.89 and a 200-day moving average of C$4.54. The firm has a market capitalization of C$581.04 million, a PE ratio of 9.89 and a beta of 0.75. Plaza Retail REIT has a 1-year low of C$3.96 and a 1-year high of C$5.34. The company has a current ratio of 0.22, a quick ratio of 0.06 and a debt-to-equity ratio of 124.16.

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

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.