Plaza Retail REIT (TSE:PLZ.UN) Reaches New 12-Month 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

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

Plaza Retail REIT Stock Performance

The firm has a market capitalization of C$376.36 million, a price-to-earnings ratio of 19.39 and a beta of 1.04. The firm’s 50-day moving average price is C$3.55 and its two-hundred day moving average price is C$3.60. The company has a debt-to-equity ratio of 123.28, a quick ratio of 0.06 and a current ratio of 0.17.

Plaza Retail REIT Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 15th were given a $0.0233 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.28 annualized dividend and a yield of 8.20%. Plaza Retail REIT’s payout ratio is 155.56%.

Insider Activity

In related news, Senior Officer Stephen Penney acquired 11,250 shares of the stock in a transaction on Wednesday, March 13th. The stock was purchased at an average price of C$3.55 per share, for a total transaction of C$39,937.50. 35.17% of the stock is currently owned by corporate insiders.

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.