CIBC Boosts Plaza Retail REIT (TSE:PLZ.UN) Price Target to C$4.75

Plaza Retail REIT (TSE:PLZ.UN) had its price objective lifted by stock analysts at CIBC from C$4.50 to C$4.75 in a note issued to investors on Friday, BayStreet.CA reports. CIBC’s price target would indicate a potential upside of 4.40% from the stock’s previous close.

Other equities analysts also recently issued reports about the stock. Raymond James reaffirmed a “market perform” rating and set a C$4.50 price objective on shares of Plaza Retail REIT in a report on Tuesday, August 13th. Canaccord Genuity lifted their price objective on shares of Plaza Retail REIT from C$4.50 to C$4.75 in a report on Wednesday.

PLZ.UN stock traded up C$0.02 during midday trading on Friday, reaching C$4.55. 23,181 shares of the company’s stock traded hands, compared to its average volume of 91,926. The company has a market cap of $464.57 million and a price-to-earnings ratio of 12.50. The firm’s fifty day moving average price is C$4.46 and its 200-day moving average price is C$4.26. The company has a quick ratio of 0.12, a current ratio of 0.40 and a debt-to-equity ratio of 142.04. Plaza Retail REIT has a 52 week low of C$3.68 and a 52 week high of C$4.67.

In related news, Director Michael Aaron Zakuta purchased 13,500 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were bought at an average cost of C$4.19 per share, with a total value of C$56,565.00. Following the acquisition, the director now owns 23,600 shares of the company’s stock, valued at C$98,884.

About Plaza Retail REIT

Plaza is an open-ended real estate investment trust and is a leading retail property owner and developer, focused on Ontario, Quebec and Atlantic Canada. Plaza's portfolio at December 31, 2018 includes interests in 287 properties totaling approximately 8.2 million square feet across Canada and additional lands held for development.

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