Royal Bank Of Canada Forecasts Strong Price Appreciation for Plaza Retail REIT (TSE:PLZ.UN) Stock

Plaza Retail REIT (TSE:PLZ.UN) had its price target upped by Royal Bank Of Canada from C$4.50 to C$4.75 in a note issued to investors on Wednesday,BayStreet.CA reports. The firm presently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price objective points to a potential upside of 5.79% from the company’s previous close.

Plaza Retail REIT Price Performance

PLZ.UN stock traded up C$0.07 during trading on Wednesday, hitting C$4.49. The stock had a trading volume of 26,921 shares, compared to its average volume of 47,772. The stock has a market cap of C$495.85 million, a price-to-earnings ratio of 12.76 and a beta of 0.62. The company has a debt-to-equity ratio of 124.16, a quick ratio of 0.06 and a current ratio of 0.22. The company’s 50 day moving average price is C$4.29 and its two-hundred day moving average price is C$4.20. Plaza Retail REIT has a 1-year low of C$3.40 and a 1-year high of C$4.52.

About Plaza Retail REIT

Plaza Retail REIT is an open-ended real estate investment trust and is a retail property owner and developer, focused on Ontario, Quebec and Atlantic Canada. Plaza’s portfolio includes interests in approximately 268 properties totaling approximately 8.6 million square feet across Canada and additional lands held for development. Its portfolio largely consists of open-air centres and stand-alone small box retail outlets and is predominantly occupied by national tenants.