Plaza Retail REIT (TSE:PLZ.UN) Stock Price Crosses Above 50-Day Moving Average – Here’s What Happened

Shares of Plaza Retail REIT (TSE:PLZ.UN) crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$4.39 and traded as high as C$4.50. Plaza Retail REIT shares last traded at C$4.44, with a volume of 66,185 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PLZ.UN. Royal Bank Of Canada boosted 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 report on Wednesday, March 4th. Desjardins upped 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 research report on Wednesday, March 4th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$4.88.

Plaza Retail REIT Price Performance

The firm has a market cap of C$490.46 million, a price-to-earnings ratio of 8.35 and a beta of 0.75. 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’s 50-day moving average price is C$4.39 and its 200-day moving average price is C$4.30.

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

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 paid a dividend of $0.0233 per share. This represents a c) dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend date is Friday, May 29th. Plaza Retail REIT’s dividend payout ratio is presently 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.