Plaza Retail REIT (TSE:PLZ.UN) Hits New 1-Year Low at $3.40

Plaza Retail REIT (TSE:PLZ.UN) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as C$3.40 and last traded at C$3.41, with a volume of 160495 shares traded. The stock had previously closed at C$3.49.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on PLZ.UN shares. Royal Bank of Canada reduced their target price on Plaza Retail REIT from C$4.25 to C$4.00 and set a “sector perform” rating on the stock in a research note on Tuesday, February 27th. Laurentian cut Plaza Retail REIT from a “buy” rating to a “hold” rating and cut their price objective for the stock from C$4.50 to C$4.25 in a report on Monday, January 22nd. Finally, Canaccord Genuity Group set a C$4.00 price objective on Plaza Retail REIT and gave the company a “buy” rating in a report on Tuesday, February 27th.

Plaza Retail REIT Stock Performance

The company has a market cap of C$378.57 million, a P/E ratio of 19.06 and a beta of 1.04. The company’s fifty day moving average is C$3.54 and its 200 day moving average is C$3.60. The company has a current ratio of 0.17, a quick ratio of 0.06 and a debt-to-equity ratio of 123.28.

Plaza Retail REIT Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 15th were paid a dividend of $0.0233 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 8.15%. Plaza Retail REIT’s dividend payout ratio (DPR) is currently 155.56%.

Insider Transactions at Plaza Retail REIT

In related news, Senior Officer Stephen Penney purchased 11,250 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were acquired at an average cost of C$3.55 per share, with a total value of C$39,937.50. Company insiders own 35.17% of the company’s stock.

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.