Plaza Retail REIT (PAZRF) Stock Price & Analysis
PAZRF Stock Chart & Stats
- Day’s Range
- $3.76 - $3.79
- 52-Week Range
- $2.81 - $4.05
- Previous Close
- $3.74
- Volume
- 3,600
- Average Volume (3M)
- 53.20K
- Market Cap
- $416.60M
- Enterprise Value
- $1.17B
- Total Cash (Recent Filing)
- $9.60M
- Total Debt (Recent Filing)
- $653.04M
- Price to Earnings (P/E)
- 9.4
- Beta
- 0.32
- Next Earnings
- Nov 04, 2026 (Est.)
- EPS Estimate
- N/A
- Last Dividend Ex-Date
- Oct 30, 2026
- Dividend Yield
- 5.52%
Bulls Say, Bears Say
Bulls Say
High Occupancy & Defensive Tenant Mix
Sustained 97.6% committed occupancy tied to necessity- and discount-oriented anchors reduces vacancy risk and steadies rental cash flows. Over 2–6 months this provides predictable NOI, supports lease-up economics on redevelopments, and underpins distribution stability versus discretionary retail peers.
FFO/AFFO Growth And Strong Leasing Spreads
Consistent FFO/AFFO increases alongside large new-leasing spreads (~51%) and healthy renewal spreads (~12%) indicate pricing power and execution. This combination drives durable distributable cash growth and validates redevelopment economics, improving long-term earnings capacity and payout coverage.
Improving Balance Sheet And Lower Funding Costs
Reduced leverage and replacement of high-coupon convertibles with lower-rate mortgages cut interest expense and refinancing risk. Improved LTV metrics and simpler debt maturities enhance financing optionality, supporting capital allocation for intensification and acquisitions over the medium term.
Bears Say
Meaningful Leverage Remains
Although leverage has improved, debt still modestly exceeds equity (debt-to-equity ~1.13) and net-debt/adjusted-EBITDA remains elevated. This structural leverage exposes the REIT to higher refinancing and valuation sensitivity, limiting flexibility for opportunistic transactions and raising stress in adverse market moves.
Low Cash Conversion And Lumpiness
Operating cash covers a modest share of accounting profit and has shown variability. Persistently low cash conversion constrains internally funded capex and distributions, may force external financing for projects, and raises execution risk when timing-dependent development contributions are relied on for growth.
Strategic Review And Development Timing Risk
An active strategic review introduces uncertainty about long-term capital allocation and could shift priorities away from existing intensification projects. Coupled with elevated construction costs and staging risk, this may delay expected NOI contributions and complicate execution of the REIT's value‑add strategy.
Plaza Retail REIT News
Plaza Retail REIT: Resilient Operations, Strong Leasing Fundamentals, and Visible NOI Growth Support Buy Rating
Plaza Retail REIT, the Real Estate sector company, was revisited by a Wall Street analyst today. Analyst Mark Rothschild from Canaccord Genuity maintained a Buy rating on the stock and
PAZRF FAQ
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Plaza Retail REIT Stock Smart Score
Company Description
Plaza Retail REIT
Plaza, an open-ended real estate investment trust, stands as a prominent owner and developer of retail properties, concentrating its efforts primarily in Ontario, Quebec, and Atlantic Canada. As of September 30, 2020, its substantial portfolio encompassed interests in 272 properties, totaling roughly 8.6 million square feet throughout Canada, alongside additional land parcels earmarked for development. This collection of assets largely consists of open-air shopping centers and individual small-format retail locations, predominantly leased to national tenants.
- Sector
- Realestate
- Industry
- REIT - Retail
- CEO
- Jason Parravano
- Employees
- 82
- Website
- www.plaza.ca
- Address
- 98 Main Street, Fredericton, NB, E3A 9N6, CA
Plaza Retail REIT (PAZRF) Earnings & Revenues
PAZRF Earnings Call
Earnings Call SentimentPositive
The call emphasized multiple operational and financial positives — strong occupancy (97.6%), NOI growth (+3.4%), same-asset NOI growth (+2.3%), solid FFO/AFFO increases (+7.8% and +7.3%), robust leasing spreads (~12% renewals, ~51% new leasing), debt reduction and lower interest costs, a $5M appraisal write-up, and $3.3M of annualized NOI from recent projects. Offsetting these positives are strategic uncertainty from a formal review of alternatives, macroeconomic caution and elevated construction costs, timing-related impacts on reported FFO/AFFO, and the natural timing lag on development contributions. Overall, the highlights substantially outweigh the lowlights, pointing to continued operational resilience and improving financial metrics, albeit with some near-term strategic and timing uncertainties.
View all PAZRF earnings summariesPAZRF Stock 12 Month Forecast
Average Price Target
Technical Analysis
Overall Consensus
| Indicator | Bullish | Neutral | Bearish |
|---|---|---|---|
| Overall Consensus | 16 | 3 | 3 |
| Technical Analysis | 4 | 3 | 3 |
| Moving Averages | 12 | 0 | 0 |
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