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Plaza Retail REIT (T:PLZ.UN)

Business Focus: Retail REITs

Sector:  Real Estate Industry:  Commercial REITs
 
Company Contact
Address: 98 Main Street, Null
FREDERICTON NB E3A 9N6
Tel: N/A
Website: plaza.ca
IR: See website
Key People
Michael Zakuta
President, Chief Executive Officer, Trustee
Jim Drake
Chief Financial Officer
Jason Parravano
Chief Operating Officer
Peter Mackenzie
Executive Vice President, Chief Investment Officer
Mathieu Bordeleau
Executive Vice President - Quebec and Ontario
Stephen Penney
Executive Vice President
Kimberly Strange
General Counsel, Secretary
   
Business Overview
Plaza Retail REIT (Trust) is a Canada-based open-ended real estate investment trust. The Trust is a developer, owner and manager of retail real estate located primarily in Ontario, Quebec and Atlantic Canada. Its portfolio includes interests in approximately 234 properties totaling approximately 8.8 million square feet across Canada and additional lands held for development. The properties are indirectly held by Plaza through its subsidiaries and through joint arrangements. Its portfolio largely consists of open-air centers and stand-alone small box retail outlets and is predominantly occupied by national tenants with a focus on the essential needs, value and convenience market segments. The Trust's portfolio consists of Alberta, Manitoba, New Brunswick, Newfoundland and Labrador, New Brunswick, Nova Scotia, Ontario, Prince Edward Island, and Quebec.
Financial Overview
For the three months ended 31 March 2024, Plaza Retail REIT revenues increased 4% to C$29.6M. Net income increased 22% to C$9.4M. Revenues reflect an increase in demand for the Company's products and services due to favorable market conditions. Net income benefited from Net Operating Income (NOI), Total increase of 7% to C$18.1M, Interest Expense/Income Net increase from C$1.5M (expense) to C$974K (income).
Employees: 88 as of Dec 31, 2022
Reporting Currency: Canadian Dollars
Enterprise value: $1,048M as of Mar 31, 2024
Annual revenue (TTM): $115.29M as of Mar 31, 2024
EBITDA (TTM): $66.06M as of Mar 31, 2024
Net annual income (TTM): $21.89M as of Mar 31, 2024
Free cash flow (TTM): $13.31M as of Mar 31, 2024
Net Debt Last Fiscal Year: $670.45M as of Mar 31, 2024
Shares outstanding: 110,374,239 as of Jun 14, 2024
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization