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Plaza Retail REIT Un (TSE:PLZ.UN)
TSX:PLZ.UN
Earnings Data
Report Date
May 01, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
―Last Year’s EPS
0.12Same Quarter Last Year
Moderate Buy
Based on 4 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Feb 26, 2025
|% Change Since: -1.63%
|Next Earnings Date:May 01, 2025
Earnings Call Sentiment|Positive
The earnings call highlighted strong financial performance with record NOI growth, successful lease renewals, strategic development projects, and effective capital recycling. However, it also acknowledged challenges such as reorganization costs, enclosed mall performance, and property write-downs. Overall, the positive aspects outweighed the negatives, indicating a robust financial position and strategic progress.Company Guidance
During the Plaza Retail REIT Fourth Quarter 2024 Earnings Conference Call, several key financial metrics and strategic achievements were discussed. The company reported record same-asset NOI growth and lease renewal spreads, with an average leasing spread of 7.4% over the real term, which would have been 11.8% excluding a specific renewal. Plaza's total NOI for the quarter increased by 8.5% compared to the previous year, with annual NOI up by 6.6%. The company's efforts to enhance its portfolio through development projects and the sale of non-core properties contributed to an increase in per unit FFO and AFFO, which would have been 11% and 31% higher, respectively, excluding reorganization costs. Plaza's debt-to-assets ratio was 50.6%, and their net debt to EBITDA was 8x, showing a decrease from the previous year. The company undertook a successful capital recycling program with non-core asset sales at a weighted average cap rate of approximately 6%, enhancing liquidity to $69 million. These efforts reflect Plaza's strategic focus on optimizing and intensifying its existing portfolio while maintaining strong operational and financial performance.Record Same-Asset NOI Growth
Plaza Retail REIT achieved record same-asset NOI growth of 4.8% for the quarter and 3.4% for the year due to asset repositioning and strong leasing spreads.
Exceptional Lease Renewal Spreads
Lease renewal spreads averaged 7.4%, or 11.8% excluding a specific theater tenant, demonstrating strong tenant demand and successful leasing strategies.
Successful Capital Recycling Program
The 2024 capital recycling program was successful in increasing property size, reducing asset age, and enhancing overall portfolio quality.
Strong Financial Metrics
Total NOI for the quarter increased by 8.5% over the previous year, with annual growth at 6.6%. Excluding reorganization costs, FFO per unit for the quarter was nearly 11% higher, and AFFO was 31% higher.
High Occupancy Rates and Strategic Footprint Expansion
Record occupancy rates and strategic expansion into known markets have positioned Plaza at the forefront of the retail sector in Eastern Canada.
New Development in Welland, Ontario
Launched construction of a new development project in Welland, Ontario, which will feature 100,000 square feet of retail space anchored by a 35,000 square foot grocery tenant.
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TSE:PLZ.UN Earnings History
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
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TSE:PLZ.UN Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Feb 26, 2025 | C$3.69 | C$3.65 | -1.08% |
| Nov 07, 2024 | C$3.66 | C$3.64 | -0.55% |
| Aug 01, 2024 | C$3.55 | C$3.60 | +1.41% |
| May 09, 2024 | C$3.32 | C$3.30 | -0.60% |
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.
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FAQ
When does Plaza Retail REIT Un (TSE:PLZ.UN) report earnings?
Plaza Retail REIT Un (TSE:PLZ.UN) is schdueled to report earning on May 01, 2025, TBA Not Confirmed.
What is Plaza Retail REIT Un (TSE:PLZ.UN) earnings time?
Plaza Retail REIT Un (TSE:PLZ.UN) earnings time is at May 01, 2025, TBA Not 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?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is TSE:PLZ.UN EPS forecast?
Currently, no data Available
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