Canada's Plaza Retail REIT Q4 revenue rises

Overview

• Canada retail property owner's Q4 revenue grew 3.8% yr/yr

• FFO for Q4 increased 25.7% yr/yr, driven by higher NOI and acquisitions

• Company maintained high committed occupancy rate of 97.6%

Outlook

• Plaza Retail REIT expects benefits from tenant fit-ups to become visible in 2026

• Company continues optimization work to support long-term FFO growth

• Plaza Retail REIT advances projects expected to benefit results in 2026 and beyond

Result Drivers

• OPTIMIZATION STRATEGIES - Plaza focused on optimization and intensification strategies, contributing to increased FFO and NOI

• TENANT DISRUPTIONS - Same-asset NOI grew despite tenant disruptions, notably Toys R Us insolvency, impacting bad debt

Company press release: ID:nCNW05qb5a

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the commercial reits peer group is "buy"

• Wall Street's median 12-month price target for Plaza Retail REIT is C$4.55, about 0.9% above its February 27 closing price of C$4.51

• The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 11 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.