Plaza Retail REIT (PAZRF) AI Stock Analysis
Plaza Retail REIT
(Other OTC:PAZRF)
No summary available
Plaza Retail REIT (PAZRF) vs. SPDR S&P 500 ETF (SPY)
- Market Cap
- $582.17M
- Dividend Yield
- 5.52%
- Average Volume (3M)
- 227.46K
- Price to Earnings (P/E)
- 9.4
- Beta (1Y)
- 0.32
- Revenue Growth
- 3.83%
- EPS Growth
- 79.77%
- Country
- US
- Employees
- 82
- Sector
- Real Estate
- Sector Strength
- 65
- Industry
- REIT - Retail
Plaza Retail REIT Business Overview & Revenue Model
Company Description
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 encomp...
Plaza Retail REIT Earnings Call Summary
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.
Q2-2026 Updates
Positive Updates
Negative Updates
Company Guidance
Plaza’s guidance for the balance of 2026 emphasizes continued execution of optimization and intensification, capturing contractual and market rent growth, disciplined capital allocation to highest‑return pipeline projects and no need to take incremental risk (management declined to comment on the announced strategic review). Key metrics supporting that outlook include committed occupancy of 97.6%; YTD NOI up 3.4% to $38.7M and same‑asset NOI up 2.3% to $38.5M; FFO +7.8% to $22.6M and AFFO +7.3% to $16.9M (FFO per unit +8.3% and AFFO +8% excluding timing items); lease renewal spreads ~12% (13% on average) and new‑leasing spread ~51%; 189 properties (~8.8M sf); $3.3M annual stabilized NOI from recent projects; weighted average cap rate 6.78%; debt‑to‑assets 48.8% (‑210 bps), net debt/adjusted EBITDA 8.7x (‑70 bps), LTV <40%, $32M of fixed mortgages rolling at 3.8%, and current mortgage all‑in pricing mid‑4s to low‑mid‑5s.
Plaza Retail REIT Peers Comparison
Overall Rating
TSE:CRT.UN81Outperform
TSE:SGR.UN73Outperform
TSE:FCR.UN71Outperform
TSE:PMZ.UN69.2Neutral
TSE:SRU.UN66Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| TSE:CRT.UN | 81Outperform | CAD 4.18B | 7.53 | 12.79% | 5.53% | 4.77% | 24.61% |
| TSE:SGR.UN | 73Outperform | CAD 1.05B | 17.25 | 5.97% | 6.85% | 2.01% | 9.35% |
| TSE:FCR.UN | 71Outperform | CAD 4.88B | 4.73 | 22.27% | 3.96% | 0.07% | 295.34% |
| TSE:PMZ.UN | 69Neutral | CAD 2.87B | 24.57 | 4.55% | 3.97% | 17.91% | -28.81% |
| TSE:SRU.UN | 66Neutral | CAD 4.60B | 29.03 | 3.03% | 6.85% | -1.11% | -31.75% |
| Sector * | 65Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% |
* Real Estate Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| PAZRF | Plaza Retail REIT | 3.77 | 1.01 | 36.43% | |
| TSE:CRT.UN | Ct Real Estate Investment | 17.39 | 2.11 | 13.82% | |
| TSE:FCR.UN | First Capital Realty | 22.96 | 5.12 | 28.67% | |
| TSE:SGR.UN | Slate Grocery Reit | 17.48 | 3.77 | 27.47% | |
| TSE:SRU.UN | Smartcentres Real Estate Investment Trust | 27.00 | 2.31 | 9.36% | |
| TSE:PMZ.UN | Primaris Real Estate Investment Trust | 22.13 | 7.59 | 52.21% |
Disclaimer
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