CIBC Keeps Their Hold Rating on Plaza Retail REIT (PLZ.UN)

By Austin Angelo

Shares of Plaza Retail REIT (PLZ.UNResearch Report) were revisited by a Wall Street analyst yesterday. The company received a Hold rating from CIBC’s analyst Sumayya Hussain, with a C$4.50 price target.

According to TipRanks.com, Hussain is ranked #2788 out of 5239 analysts.

Plaza Retail REIT has an analyst consensus of Hold, with a price target consensus of C$4.50.

Based on Plaza Retail REIT’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of C$16.25 million. In comparison, last year the company had a net profit of C$7.25 million.

Plaza Retail REIT operates as an open-ended real estate investment trust, which acquires, develops and redevelops unenclosed and enclosed retail real estate in Atlantic Canada, Québec and Ontario. The company was founded by Michael Zakuta and Earl Brewer in 1999 and is headquartered in Fredericton, Canada.

The company’s shares closed on Friday at C$4.22.