Plaza Retail REIT (TSE:PLZ.UN) Sets New 1-Year High – Here’s What Happened

Plaza Retail REIT (TSE:PLZ.UN – Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$4.74 and last traded at C$4.72, with a volume of 10946 shares. The stock had previously closed at C$4.70.

Analysts Set New Price Targets

A number of research firms recently issued reports on PLZ.UN. Royal Bank Of Canada lifted their price target on shares of Plaza Retail REIT from C$4.50 to C$4.75 and gave the company a “sector perform” rating in a research note on Wednesday, March 4th. Desjardins upped their price target on Plaza Retail REIT from C$4.75 to C$5.00 and gave the company a “buy” rating in a research report on Wednesday, March 4th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$4.88.

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Plaza Retail REIT Stock Performance

The company has a quick ratio of 0.06, a current ratio of 0.22 and a debt-to-equity ratio of 124.16. The company has a market cap of C$519.18 million, a PE ratio of 8.84 and a beta of 0.75. The business has a 50-day simple moving average of C$4.49 and a 200-day simple moving average of C$4.35.

Plaza Retail REIT (TSE:PLZ.UN – Get Free Report) last announced its earnings results on Wednesday, May 13th. The company reported C$0.12 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$32.51 million during the quarter.

Plaza Retail REIT Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 15th will be paid a $0.0233 dividend. This represents a c) annualized dividend and a dividend yield of 5.9%. The ex-dividend date is Tuesday, June 30th. Plaza Retail REIT’s dividend payout ratio (DPR) is presently 52.66%.

About Plaza Retail REIT

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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.

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