Plaza REIT just gave me a raise (again)!

Just a quick update on one of my favorite REIT’S:

Plaza Reit PLZ.UN just increased their dividend for the 15th consecutive year!  Plaza is one of 2 REIT’S I currently own, and was the first REIT I ever purchased.  Although the retail REIT’s are getting beat up pretty good with the Amazon/online threat, I still like Plaza for the medium to long term as they have a proven history of responsibly increasing their dividends/growing their business.

  Some Highlights from the press release today:

  • Increasing the monthly distribution from $0.0225 to $0.0233 a 3.7% increase
  • Since 2003 the dividend has grown from 8 cents to 28 cents
  • AFFO payout ratio dropped from 82.1% to 80.9%
  • FFO and AFFO per unit increased by 3.4% and 6.5%, respectively

The dividend raise today gives me an extra $10.89 per year in dividends (which will be dripped into more shares).

Plaza is currently trading at $4.36 (very close to it’s 52 Week low) and has traded as high as 5.18 this year.  I think Plaza is still undervalued and anytime the price is below 4.50 is a great buy.  At the current price Plaza Yields 6.3%.

 

 

 

 

 

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5 thoughts on “Plaza REIT just gave me a raise (again)!”

  1. The best thing about dividend growth investing is when dividend increases are announced! It’s nice to stumble upon a site that talks about REIT investing, I hold a handful of REIT’s myself (OHI, WPC, JCAP, LADR) and I love the dividends as well.

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    1. Agreed – nothing better than the monthly Drips & even better when the amount dripped keeps growing!
      Only REIT’S I own now are Artis & Plaza, however I did own OneReit and Edgefront for a while.
      I’m looking at CAR.UN and a few others as well for my next REIT.

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