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) passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of C$4.49 and traded as high as C$4.73. Plaza Retail REIT shares last traded at C$4.70, with a volume of 20,134 shares changing hands.

Analysts Set New Price Targets

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

Plaza Retail REIT Trading Down 0.4%

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

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

Plaza Retail REIT Announces Dividend

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

About Plaza Retail REIT

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.