Price: 4:05
Market Cap: 416.4 Million
Yield: 6.91
Investment Type: Small Cap Income
Yield: 6.91
Investment Type: Small Cap Income
Company Profile
Plaza Retail REIT (Plaza) is
a Canada-based open-ended real estate investment trust. The Company's objective
is to deliver a growing yield to unitholders from a diversified portfolio of
retail properties. The Company develops, owns and manages retail real estate
primarily in Atlantic Canada, Quebec and Ontario Alberta , Newfoundland
and Labrador , New Brunswick ,
Nova Scotia , Manitoba ,
Ontario , Prince Edward
Island and Quebec
The Investment Case
Plaza Corp is a strong
internalized developer of retail properties with holdings in Quebec , Ontario
It has a strong pipeline of 25 projects, including acquiring old Sears sites for redevelopment. Plaza Corp is the only REIT to consistently increase AFFO/share and increase dividend every year for 15 years. Retail real estate is out of favor, so it’s a good time to buy this undervalued stock. Insiders own 21 per cent and are buying shares (Michael Zakuta). We recently bought more at $3.30. Nice safe dividend yield of 6.5 per cent.
It has a strong pipeline of 25 projects, including acquiring old Sears sites for redevelopment. Plaza Corp is the only REIT to consistently increase AFFO/share and increase dividend every year for 15 years. Retail real estate is out of favor, so it’s a good time to buy this undervalued stock. Insiders own 21 per cent and are buying shares (Michael Zakuta). We recently bought more at $3.30. Nice safe dividend yield of 6.5 per cent.
Stephen Takacsy
Morningstar Profile
Company’s Website
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