Plaza Retail REIT (PLZ.UN) AI Stock Analysis

• Market Cap: C$447.26M
• Dividend Yield: 6.73%
• Average Volume (3M): 32.72K
• Price to Earnings (P/E): 12.9
• Beta (1Y): 0.51
• Revenue Growth: 4.53%
• EPS Growth: 197.86%
• Country: CA
• Employees: 98
• Sector: Real Estate
• Sector Strength: 53
• Industry: REIT - Retail
• EPS (TTM): 0.08
• Shares Outstanding: 110,435,360
• 10 Day Avg. Volume: 30,420
• 30 Day Avg. Volume: 32,715
• PEG Ratio: 0.70
• Price to Book (P/B): 0.72
• Price to Sales (P/S): 3.22
• P/FCF Ratio: 9.81
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: C$4.67
• Price Target Upside: 12.26% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 3
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 71 Outperform
• Price Target: C$4.50 ▲(8.17% Upside)

Plaza Retail REIT's strong earnings call performance and attractive valuation are significant positives. However, technical indicators suggest caution, and financial performance shows some operational challenges. The overall score reflects a balanced view of growth potential and risks.

Positive Factors

High Occupancy Rate

A high occupancy rate indicates strong demand for Plaza's retail spaces, ensuring stable rental income and enhancing long-term financial stability.

Record FFO Per Unit

Record FFO per unit growth reflects effective cost management and strong leasing performance, supporting future profitability and investor returns.

Successful Capital Recycling Program

The capital recycling program enhances asset quality and liquidity, allowing reinvestment into higher-yielding projects, supporting long-term growth.

Negative Factors

Impact of Tenant Closure

Tenant closures can lead to revenue loss and increased vacancies, impacting Plaza's income stability and requiring strategic tenant replacement efforts.

Fair Value Write-Down

Write-downs indicate potential overvaluation of assets and can affect balance sheet strength, highlighting risks in development strategy adjustments.

Decline in Operating Cash Flow

A decline in operating cash flow suggests potential operational inefficiencies, which could constrain Plaza's ability to fund growth and manage debt.

Plaza Retail REIT Business Overview & Revenue Model

Company Description

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 September 30, 2020 includes interests in 272 properties totaling approximately 8.6 million square feet across Canada and additional lands held for development. Plaza's portfolio largely consists of open-air centres and stand-alone small box retail outlets and is predominantly occupied by national tenants.

How the Company Makes Money

Plaza Retail REIT generates revenue primarily through leasing retail spaces to a diverse range of tenants, including national and regional brands. The company earns rental income from long-term leases, which typically provide stable cash flows. Additionally, Plaza Retail REIT may benefit from percentage rent agreements where tenants pay a portion of their sales as rent, particularly in high-performing locations. The REIT also engages in property management services, which can contribute to its earnings. Significant partnerships with retail brands and a strategic focus on desirable locations enhance tenant occupancy rates, further solidifying its revenue base. The consistent demand for retail space in well-located centers supports the company's financial performance.

Plaza Retail REIT Financial Statement Overview

Summary

Plaza Retail REIT shows stable financial health with consistent revenue and net income growth. The balance sheet indicates moderate leverage, typical for REITs, and a stable equity base. Cash flow management is effective, though there's a slight decline in operating cash flow.

Income Statement

The income statement shows a moderate growth trend in revenue from 2023 to 2024 (6.34%). Gross profit margin is stable at around 61.3%. However, the absence of EBIT in 2024 is a concern, potentially impacting profitability analysis. The net profit margin improved slightly to 20.65% from 17.69% in 2023, indicating better cost management or revenue growth.

Balance Sheet

The balance sheet shows a stable equity position with a debt-to-equity ratio of approximately 1.22, indicating moderate leverage for a REIT. The equity ratio is 43.61%, reflecting a balanced asset structure. Return on equity increased to 4.63% in 2024, showing improved profitability relative to shareholder's equity.

Cash Flow

Cash flow analysis reveals a decline in operating cash flow from 2023 to 2024 by 5.74%, which may indicate operational challenges. However, free cash flow remains stable, showing effective capital expenditure management. The operating cash flow to net income ratio is 1.59, suggesting efficient cash generation relative to earnings.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	126.09M	121.28M	114.06M	111.25M	110.63M	106.90M
Gross Profit	77.62M	74.36M	70.35M	70.58M	71.78M	68.75M
EBITDA	69.55M	57.32M	64.63M	81.34M	70.51M	64.48M
Net Income	35.15M	25.05M	20.19M	53.89M	99.61M	-14.94M
Balance Sheet
Total Assets	1.28B	1.24B	1.26B	1.27B	1.21B	1.14B
Cash, Cash Equivalents and Short-Term Investments	8.61M	8.87M	10.87M	7.26M	8.06M	8.27M
Total Debt	683.72M	657.22M	672.47M	708.14M	679.24M	681.13M
Total Liabilities	731.63M	696.37M	714.49M	747.71M	716.94M	712.23M
Stockholders Equity	547.30M	540.82M	546.49M	518.90M	493.52M	422.41M
Cash Flow
Free Cash Flow	42.70M	39.86M	42.29M	80.69M	69.39M	60.87M
Operating Cash Flow	42.70M	39.86M	42.29M	38.47M	48.21M	31.72M
Investing Cash Flow	-5.80M	5.34M	-10.00M	-44.90M	-21.95M	-27.77M
Financing Cash Flow	-30.34M	-23.29M	-40.23M	1.15M	-26.33M	-20.64M

Plaza Retail REIT Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 4.16
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:PLZ.UN, the sentiment is Positive. The current price of 4.16 is above the 20-day moving average (MA) of 4.06, above the 50-day MA of 4.09, and above the 200-day MA of 3.85, indicating a bullish trend. The MACD of 0.01 indicates Negative momentum. The RSI at 61.19 is Neutral, neither overbought nor oversold. The STOCH value of 85.10 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:PLZ.UN.

Plaza Retail REIT Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SGR.UN	78 Outperform	C$866.95M	15.78	6.49%	8.01%	1.80%	46.83%
CRT.UN	75 Outperform	C$3.78B	8.12	11.49%	5.93%	4.11%	35.99%
SRU.UN	73 Outperform	C$4.46B	20.28	5.03%	7.05%	0.48%	96.32%
PLZ.UN	71 Outperform	C$447.26M	12.85	7.14%	6.73%	4.53%	197.86%
REI.UN	71 Outperform	$5.58B	86.41	0.92%	6.07%	22.22%	-71.38%
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
FCR.UN	65 Neutral	C$3.93B	15.07	6.18%	4.66%	-0.83%	-28.93%

Plaza Retail REIT Corporate Events

Plaza Retail REIT Achieves Record Quarterly FFO in Q3 2025

Plaza Retail REIT reported a strong third quarter in 2025, achieving its highest quarterly funds from operations (FFO) per unit in recent years, with an 8.8% increase from the previous year. The company’s total FFO rose by 8.6% year-over-year, driven by same-asset growth, acquisitions, and intensification projects. Despite challenges such as tenant closures affecting same-asset net operating income (NOI), Plaza maintained a high occupancy rate of 97.9% and achieved record leasing spreads. The company’s strategic projects, including handing over space to No Frills, are expected to yield greater benefits in early 2026, demonstrating Plaza’s ability to generate value and navigate market challenges.

The most recent analyst rating on ($TSE:PLZ.UN) stock is a Buy with a C$4.50 price target. To see the full list of analyst forecasts on Plaza Retail REIT stock, see the TSE:PLZ.UN Stock Forecast page.

Plaza Retail REIT Schedules Q3 2025 Financial Results Call

Plaza Retail REIT has announced a conference call scheduled for November 13, 2025, to discuss its third quarter financial results. The financial statements and management’s discussion will be available on Plaza’s website and SEDAR+ prior to the call. This announcement is significant for stakeholders as it provides insights into the company’s financial health and operational strategies, potentially impacting its market positioning and future developments.

The most recent analyst rating on ($TSE:PLZ.UN) stock is a Buy with a C$4.50 price target. To see the full list of analyst forecasts on Plaza Retail REIT stock, see the TSE:PLZ.UN Stock Forecast page.

Plaza Retail REIT Declares October 2025 Distribution

Plaza Retail REIT has announced its October 2025 monthly distribution of $0.02333 per unit, payable on November 17, 2025, to unitholders of record as of October 31, 2025. This announcement reflects Plaza’s ongoing commitment to providing consistent returns to its investors, reinforcing its stable position in the retail property market across Canada.

The most recent analyst rating on ($TSE:PLZ.UN) stock is a Buy with a C$5.00 price target. To see the full list of analyst forecasts on Plaza Retail REIT stock, see the TSE:PLZ.UN Stock Forecast page.

Plaza Retail REIT Declares September 2025 Distribution

Plaza Retail REIT announced its September 2025 monthly distribution of $0.02333 per unit, payable on October 15, 2025, to unitholders of record as of September 30, 2025. This announcement reflects Plaza’s ongoing commitment to providing consistent returns to its investors, reinforcing its stable position in the retail real estate market, particularly in essential needs and value segments. The distribution is part of Plaza’s strategy to maintain investor confidence and support its growth in the Canadian retail property sector.

The most recent analyst rating on ($TSE:PLZ.UN) stock is a Buy with a C$5.00 price target. To see the full list of analyst forecasts on Plaza Retail REIT stock, see the TSE:PLZ.UN Stock Forecast page.

Plaza Retail REIT Declares August 2025 Distribution

Plaza Retail REIT announced its August 2025 monthly distribution of $0.02333 per unit, payable on September 15, 2025, to unitholders of record as of August 29, 2025. This announcement reflects Plaza’s ongoing commitment to providing consistent returns to its stakeholders, reinforcing its stable position within the retail real estate market across Canada.

The most recent analyst rating on ($TSE:PLZ.UN) stock is a Buy with a C$5.00 price target. To see the full list of analyst forecasts on Plaza Retail REIT stock, see the TSE:PLZ.UN Stock Forecast page.