The Globe and Mail reports in its Tuesday, May 9, edition that RBC Capital Markets analyst Pammi Bir is sticking with his "sector perform" recommendation for Plaza Retail REIT. The Globe's David Leeder writes in the Eye On Equities column that Mr. Bir trimmed his unit target for Plaza Retail REIT to $4.75, matching the consensus, from $5. Mr. Bir says in a note: "Our stable outlook for Plaza is largely intact, post Q1 results that were marginally light. Set against a slowing economy, we believe its basic needs retail portfolio sets up well to deliver steady, moderate organic growth. As well, we expect its substantial pipeline of developments to provide a complementary source of earnings and NAV upside over the next two years, while the recent improvement in leverage provides additional funding capacity." The Globe reported on Aug. 17, 2021, that Mr. Bir said Plaza Retail was deserving of a premium valuation. He rated the units "sector perform." The units could then be had for $4.56. The Globe reported on July 20 that iA Securities analyst Gaurav Mathur had reaffirmed his "hold" call on Plaza Retail REIT. The units could then be had for $3.98.
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