Desjardins Forecasts Strong Price Appreciation for Plaza Retail REIT (TSE:PLZ.UN) Stock

Plaza Retail REIT (TSE:PLZ.UN) had its price target raised by Desjardins from C$4.75 to C$5.00 in a report released on Wednesday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. Desjardins’ price target would indicate a potential upside of 12.11% from the company’s current price.

Separately, Royal Bank Of Canada boosted their target price on Plaza Retail REIT from C$4.50 to C$4.75 and gave the stock a “sector perform” rating in a research note on Wednesday. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Plaza Retail REIT presently has an average rating of “Moderate Buy” and a consensus target price of C$4.88.

Plaza Retail REIT Stock Down 1.8%

Plaza Retail REIT stock opened at C$4.46 on Wednesday. Plaza Retail REIT has a fifty-two week low of C$3.40 and a fifty-two week high of C$4.54. 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 firm’s 50-day simple moving average is C$4.30 and its 200 day simple moving average is C$4.20. The stock has a market cap of C$492.54 million, a PE ratio of 12.68 and a beta of 0.62.

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.