Plaza Retail is the owner of unenclosed strip malls located primarily in Atlantic Canada (52%), Quebec (27%), and eastern Ontario (20%). It had 205 properties comprising 8.9 million sq. ft. as June 30. Approximately 60% were grocery- or pharmacy-anchored, and another 9% in fast food restaurants, with an occupancy rate of 98%. National retailers made up 90% of the portfolio, with 26% being Shoppers Drug Mart/Loblaws, and another 18% Dollarama, Sobeys, TJX, and Canadian Tire.
Income Investor
With the unit price up 13% from the last review in February and flat since being recommended seven and a half years ago, Plaza has, as with Crombie, essentially preserved capital while providing an above inflation tax effective yield. Sell now. - Gavin Graham
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PLZ.UN was first recommended here on February 10, 2018