Topic: How To Invest

Q: Hi Pat: What is your opinion of Plaza Retail REIT, symbol PLZ.UN? Thank you.

Article Excerpt

A: Plaza Retail REIT, $4.19, symbol PLZ.UN on Toronto (Units outstanding: 102.6 million; Market cap: $433.2 million; www.plaza.ca), is retail focused, with interests in 285 properties across Canada and comprising 8.2 million square feet of leasable area. The trust owns strip plazas, standalone small-box stores and enclosed shopping centres. On July 2, 2013, the company’s shares moved from the TSX Venture Exchange to the Toronto exchange. Effective January 1, 2014, Plaza converted to a real estate investment trust. It also changed its name from Plazacorp Retail Properties Ltd. Plaza now focuses on Ontario, Quebec and Atlantic Canada; the Atlantic provinces account for 54% of the company’s square footage, followed by Quebec (26%), Ontario (19%) and Western Canada (1%). The trust’s occupancy rate is 96.3%. National and regional chains, such as Shoppers Drug Mart, Dollarama, KFC and Canadian Tire, account for 94.3% of its tenants. The REIT’s revenue for the three months ended March 31, 2019, rose 22.3%, to $31.7 million from $26.0 million…