Plaza Retail REIT

PLZ.UN-T

Analysis and Opinions about PLZ.UN-T

Signal
Opinion
Expert
BUY
BUY
January 15, 2020
Fine managers (who is also a major shareholder), but PLZ is in a challenge sector. Solid dividend, though, and reasonably valued. He likes it.
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Fine managers (who is also a major shareholder), but PLZ is in a challenge sector. Solid dividend, though, and reasonably valued. He likes it.
HOLD
HOLD
November 27, 2019
Outstanding management, who are large shareholders. The dividend is safe. He normally does not hold retail REITs, but this is the exception. A great hold. Yield 6%
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Outstanding management, who are large shareholders. The dividend is safe. He normally does not hold retail REITs, but this is the exception. A great hold. Yield 6%
DON'T BUY
DON'T BUY
November 4, 2019
He thinks highly of the management team there. They own and operate and fix up retail real estate in Eastern Canada. He is not a bull in retail real estate. Retail vacancies have been persistent ever since Target left Canada. We are going to have record bankruptcies globally this year. But plaza is more necessity based retail, more plaza based.
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He thinks highly of the management team there. They own and operate and fix up retail real estate in Eastern Canada. He is not a bull in retail real estate. Retail vacancies have been persistent ever since Target left Canada. We are going to have record bankruptcies globally this year. But plaza is more necessity based retail, more plaza based.
DON'T BUY
DON'T BUY
October 31, 2019
Great management. No one does development as well as they do. Suffers from being a retail REIT. Expects further investment and perhaps privitization. Has run up, close to fairly valued. Outside of a takeout, doesn't see significant opportunity for growth.
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Great management. No one does development as well as they do. Suffers from being a retail REIT. Expects further investment and perhaps privitization. Has run up, close to fairly valued. Outside of a takeout, doesn't see significant opportunity for growth.
HOLD
HOLD
July 31, 2019
PE ratio In real the better measure is price to cash flow or FFO (funds from operations). Cash flow is more critical due to the high level of depreciation. He likes Plaza, but does not like the retail space. The management team is the best in Canada. It is undervalued. An okay hold if you like the retail space. Yield 6.6%
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PE ratio In real the better measure is price to cash flow or FFO (funds from operations). Cash flow is more critical due to the high level of depreciation. He likes Plaza, but does not like the retail space. The management team is the best in Canada. It is undervalued. An okay hold if you like the retail space. Yield 6.6%
DON'T BUY
DON'T BUY
June 4, 2019

He's more strategic in his REITs. Stays away from Alberta based like Artis. Playing defense. Looking for income coming from outside of Canada, such as with Dream Global. In Canada, likes the apartment REITs like Canadian Apartment. Would also look at the US.

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He's more strategic in his REITs. Stays away from Alberta based like Artis. Playing defense. Looking for income coming from outside of Canada, such as with Dream Global. In Canada, likes the apartment REITs like Canadian Apartment. Would also look at the US.

BUY
BUY
April 1, 2019
The yield is absolutely safe and the management team is one of the best ones out there. Development and re-development is still in their DNA. They buy correctly and put the right kind of money into properties and are capitalizing themselves through a balance sheet and payout ratio that remains strong. You won't see a strong rental growth profile, but you will get one of the best management teams with most of their own capital invested in this. However there is an absence of catalysts in this company. It s a slow and steady grower. (Analysts’ price target is $4.50)
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The yield is absolutely safe and the management team is one of the best ones out there. Development and re-development is still in their DNA. They buy correctly and put the right kind of money into properties and are capitalizing themselves through a balance sheet and payout ratio that remains strong. You won't see a strong rental growth profile, but you will get one of the best management teams with most of their own capital invested in this. However there is an absence of catalysts in this company. It s a slow and steady grower. (Analysts’ price target is $4.50)
PAST TOP PICK
PAST TOP PICK
January 28, 2019
(A Top Pick Jan 29/18, Down 0.03%) They are ecommerce-proof. Tenants such as Shoppers Drugmart. They are a developer so they add value. They have 25 projects in the pipeline. He thinks this is a real bargain. They steadily increased the dividend for 15 years.
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(A Top Pick Jan 29/18, Down 0.03%) They are ecommerce-proof. Tenants such as Shoppers Drugmart. They are a developer so they add value. They have 25 projects in the pipeline. He thinks this is a real bargain. They steadily increased the dividend for 15 years.
BUY
BUY
December 5, 2018
The story of retail is hurting many REITs including this one. He sees them having one of the better management teams, who is invested in this as well. They avoid dilutive equity raises. This is a fine entry point and you will be aligned with one of the best businesses. There is a lot of development opportunities.
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The story of retail is hurting many REITs including this one. He sees them having one of the better management teams, who is invested in this as well. They avoid dilutive equity raises. This is a fine entry point and you will be aligned with one of the best businesses. There is a lot of development opportunities.
BUY
BUY
March 28, 2018

Management owns a great deal of this company and he sees it as well run. It focuses on shopping and retail in Atlantic Canada and Quebec. He expects another distribution increase. He sees management as very active and engaged. He would love to own it, but can’t get the size they would want.

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Management owns a great deal of this company and he sees it as well run. It focuses on shopping and retail in Atlantic Canada and Quebec. He expects another distribution increase. He sees management as very active and engaged. He would love to own it, but can’t get the size they would want.

TOP PICK
TOP PICK
January 29, 2018

They are an orphaned retail REIT and AMZN-Q proof. Shoppers Drug Mart. It is a very well managed company. (Analysts’ target: $4.90).

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They are an orphaned retail REIT and AMZN-Q proof. Shoppers Drug Mart. It is a very well managed company. (Analysts’ target: $4.90).

DON'T BUY
DON'T BUY
August 3, 2017

Their underlying tenants are vulnerable to the technology displacement (AMZN-Q). Most properties are out East. You would not race to go here. They are in the retail headwinds. Insiders are buying and that is a positive, but not enough to hit a buy button.

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Their underlying tenants are vulnerable to the technology displacement (AMZN-Q). Most properties are out East. You would not race to go here. They are in the retail headwinds. Insiders are buying and that is a positive, but not enough to hit a buy button.

HOLD
HOLD
August 2, 2017

10-year hold? The management team is good. With the 10-year time horizon, you are fine hanging on. They focus on value add, improving the quality of the portfolio as they acquire. Doesn’t think there are any issues, other than that some of their properties are in secondary markets. The portfolio should demonstrate pretty reasonable cash flow growth, and it is trading at a discount.

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10-year hold? The management team is good. With the 10-year time horizon, you are fine hanging on. They focus on value add, improving the quality of the portfolio as they acquire. Doesn’t think there are any issues, other than that some of their properties are in secondary markets. The portfolio should demonstrate pretty reasonable cash flow growth, and it is trading at a discount.

COMMENT
COMMENT
May 11, 2017

Technically, on a shorter term, there is no place to hang your hat. It broke a little bit of support. Had a big down day on April 26, and is now holding in at around $4.75. Sees some support coming in at around the $4.50 range. Dividend yield of 5.6%.

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Technically, on a shorter term, there is no place to hang your hat. It broke a little bit of support. Had a big down day on April 26, and is now holding in at around $4.75. Sees some support coming in at around the $4.50 range. Dividend yield of 5.6%.

COMMENT
COMMENT
April 18, 2017

Retail focused in smaller markets and an expert in their field. A great company, and is looking very attractive at these prices. They have a nice development they are doing in Newfoundland, which he thinks is going to be a home run.

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Retail focused in smaller markets and an expert in their field. A great company, and is looking very attractive at these prices. They have a nice development they are doing in Newfoundland, which he thinks is going to be a home run.

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