Plaza Retail REIT (TSE:PLZ.UN) Sets New 52-Week Low at $3.40

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on PLZ.UN shares. Royal Bank of Canada cut their target price on shares of Plaza Retail REIT from C$4.25 to C$4.00 and set a “sector perform” rating for the company in a research note on Tuesday, February 27th. Laurentian cut Plaza Retail REIT from a “buy” rating to a “hold” rating and reduced 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 target price on Plaza Retail REIT and gave the stock a “buy” rating in a research note on Tuesday, February 27th.

Plaza Retail REIT Stock Up 0.6 %

The company has a current ratio of 0.17, a quick ratio of 0.06 and a debt-to-equity ratio of 123.28. The company has a market capitalization of C$378.57 million, a P/E ratio of 19.06 and a beta of 1.04. The stock has a 50 day moving average price of C$3.54 and a 200 day moving average price of C$3.60.

Plaza Retail REIT Dividend Announcement

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

Insider Activity

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