2024-02-12 09:30:00 ET
Summary
- Plaza Retail REIT performed well during the COVID pandemic and has a strong tenant mix, including Loblaw and Dollarama.
- The REIT's AFFO per share in the third quarter covered its dividend payout, showing improvement compared to earlier quarters.
- The REIT's stock is currently trading at a discount to its book value, making it an appealing investment with a 7.8% dividend yield.
Introduction
I like real estate assets and I have been interested in commercial REITs for quite a while now. Of course, not all commercial REITs were created equal and I preferred to focus on the subset that focuses on "essential goods." Plaza Retail REIT ( PAZRF ) ( PLZ.UN:CA ) performed pretty well during the COVID pandemic as it has been focusing on pharmacy and grocery store focused real estate assets....
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Plaza Retail REIT: The 7.8% Dividend Yield Is Well Covered