Plaza Retail REIT (TSE:PLZ.UN) Share Price Crosses Above 50 Day Moving Average – Here’s Why

Plaza Retail REIT (TSE:PLZ.UN) shares crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of C$3.58 and traded as high as C$3.67. Plaza Retail REIT shares last traded at C$3.66, with a volume of 29,081 shares changing hands.

Analysts Set New Price Targets

Separately, Desjardins set a C$4.25 price objective on shares of Plaza Retail REIT and gave the company a “buy” rating in a research note on Thursday, January 30th.

Plaza Retail REIT Price Performance

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 has a market capitalization of C$403.95 million, a P/E ratio of 36.60 and a beta of 1.08. The business has a 50 day simple moving average of C$3.58 and a 200-day simple moving average of C$3.71.

Plaza Retail REIT Announces Dividend

The business also recently announced a monthly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Tuesday, February 18th were paid a $0.0233 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 7.64%. The ex-dividend date of this dividend was Friday, January 31st. Plaza Retail REIT’s payout ratio is 280.00%.

Plaza Retail REIT Company Profile

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.