The earnings call highlighted strong performance metrics and strategic achievements, including record occupancy rates, robust leasing spreads, and successful development projects. While there were some short-term negative impacts on AFFO and challenges from tenant closures, the overall sentiment is positive due to the outweighing highlights.

Company Guidance -

Q3 2025

During the Plaza Retail REIT Second Quarter 2025 earnings call, key metrics were highlighted, showcasing the company's robust performance and strategic initiatives. The same-property NOI increased by 1.5% year-over-year, supported by strong leasing activity and effective expense management. The committed occupancy rate reached an all-time high of 98%, climbing to nearly 99% when excluding enclosed malls. Blended leasing spreads over the renewal term were at 14.8%, with negotiated renewals just under 20%, reflecting the company's ability to leverage in-place versus market rents. Plaza is engaged in preconstruction or construction of around 300,000 square feet of intensification projects, expected to deliver a 17% unlevered return. Despite short-term impacts on AFFO due to $3.7 million in leasing costs, these projects are forecasted to generate $650,000 in incremental NOI. The company also increased ownership in three Shoppers Drug Mart properties to 100% and successfully sold nine properties at prices exceeding IFRS values by about 5%. With a debt-to-assets ratio of 50.9% and liquidity of $62 million, Plaza is well-positioned to capitalize on future opportunities.

Record Occupancy Rate

Plaza achieved an all-time high committed occupancy rate of 98%, with occupancy reaching near-perfect levels of 99% excluding enclosed malls.

Strong Leasing Performance

Same-property NOI increased by 1.5% year-over-year, with blended leasing spreads of 14.8% over the renewal term, and negotiated renewals nearing 20%.

Significant Development Projects

Approximately 300,000 square feet of intensifications, developments, and strategic optimization projects are underway, expected to generate a 17% unlevered return.

Successful Property Acquisitions

Increased ownership in three Shoppers Drug Mart properties in Ontario from 25% to 100%, with properties valued at approximately $23 million.

Capital Recycling Initiative Success

Sold nine properties at prices exceeding IFRS values by 5%, supporting capital for strategic projects and debt reduction.

Financial Metrics Improvement

Total NOI increased by 3.8%, FFO per unit rose by 5.3%, and debt-to-assets ratio improved by 40 bps to 50.9% compared to the previous year.

Plaza Retail REIT (TSE:PLZ.UN) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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TSE:PLZ.UN Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 06, 2025	2025 (Q3)	- / -	0.046	―	―	―
Aug 07, 2025	2025 (Q2)	- / 0.11	0.021	438.10% (+0.09)	―	―
May 07, 2025	2025 (Q1)	- / 0.08	0.084	-1.19% (>-0.01)	―	―
Feb 26, 2025	2024 (Q4)	- / 0.07	-0.034	314.71% (+0.11)	―	―
Nov 07, 2024	2024 (Q3)	- / 0.05	0.03	53.33% (+0.02)	―	―
Aug 01, 2024	2024 (Q2)	- / 0.02	0.116	-81.90% (-0.10)	―	―
May 09, 2024	2024 (Q1)	- / 0.08	0.074	13.51% (+0.01)	―	―
Feb 26, 2024	2023 (Q4)	- / -0.03	0.137	-124.82% (-0.17)	―	―
Nov 09, 2023	2023 (Q3)	- / 0.03	0.069	-56.52% (-0.04)	―	―
Aug 03, 2023	2023 (Q2)	- / 0.12	0.068	70.59% (+0.05)	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

TSE:PLZ.UN Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 07, 2025	C$4.15	C$4.15	0.00%
May 07, 2025	C$3.70	C$3.72	+0.54%
Feb 26, 2025	C$3.58	C$3.54	-1.12%
Nov 07, 2024	C$3.56	C$3.54	-0.56%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Plaza Retail REIT (TSE:PLZ.UN) report earnings?

Plaza Retail REIT (TSE:PLZ.UN) is schdueled to report earning on Nov 06, 2025, During Market Hours (Confirmed).

What is Plaza Retail REIT (TSE:PLZ.UN) earnings time?

Plaza Retail REIT (TSE:PLZ.UN) earnings time is at Nov 06, 2025, During Market Hours (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

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What is TSE:PLZ.UN EPS forecast?

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