Plaza Retail REIT Declares Monthly Distribution for Investors
Plaza Retail REIT's Monthly Distribution Announcement
Plaza Retail REIT has just made an important announcement regarding its financial commitments to unitholders. The real estate investment trust, known as Plaza, has declared its monthly distribution for October 2024, amounting to $0.02333 per unit, which translates to an annualized amount of $0.28. This distribution illustrates Plaza's focus on delivering consistent returns to its investors.
Details of the October Distribution
The distribution will be paid out on November 15, 2024, to unitholders who are on record as of October 31, 2024. This timely announcement allows unitholders to plan their investments accordingly. Maintaining such a distribution showcases Plaza's ongoing commitment to its financial health and stability—even against the backdrop of changing economic circumstances.
Understanding Plaza's Core Business
Plaza Retail REIT operates as an open-ended real estate investment trust, which makes it a prominent player in the retail property market. With a concentration on leasing retail and commercial properties, Plaza has established a well-diversified portfolio primarily in regions like Ontario, Quebec, and Atlantic Canada. Currently, Plaza owns interests in 225 properties, covering nearly 8.9 million square feet of retail space across Canada.
Portfolio Highlights and Market Focus
This extensive portfolio consists mainly of open-air shopping centers and stand-alone retail stores. Plaza is particularly adept at attracting national tenants, emphasizing essential needs and the convenience market segments. Such a focus ensures that the properties remain in demand and helps drive revenue growth, thus benefiting unitholders.
Future Growth Prospects
In addition to managing its existing properties, Plaza is strategically acquiring additional land for future development opportunities. This forward-thinking approach indicates a proactive stance towards enhancing its portfolio and generating long-term growth for its stakeholders. Investors can look forward to potential expansion and diversification of Plaza's offerings in the near future.
Frequently Asked Questions
What is the October distribution amount for Plaza Retail REIT?
The announced distribution for October 2024 is $0.02333 per unit.
When will the October distribution be paid?
The distribution will be payable on November 15, 2024.
How many properties does Plaza Retail REIT own?
Plaza Retail REIT holds interests in 225 properties totaling approximately 8.9 million square feet.
What regions does Plaza operate in?
Plaza primarily operates in Ontario, Quebec, and Atlantic Canada.
Who are the primary tenants in Plaza's portfolio?
Plaza's properties are predominantly occupied by national tenants, focusing on essential needs and value-oriented retail.
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