Plaza Retail REIT
Plaza is an open-ended real estate investment trust and is a leading retail property owner and developer, focused on Ontario, Quebec and Atlantic Canada. Plaza's portfolio at September 30, 2025, includes interests in 197 properties totaling approximately 8.8 million square feet across Canada and additional lands held for development. Plaza's portfolio largely consists of open-air centres and stan… Read more
Plaza Retail REIT (PAZRF) - Net Assets
Latest net assets as of September 2025: $551.20 Million USD
Based on the latest financial reports, Plaza Retail REIT (PAZRF) has net assets worth $551.20 Million USD as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($1.27 Billion) and total liabilities ($722.73 Million). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $551.20 Million |
| % of Total Assets | 43.27% |
| Annual Growth Rate | 19.04% |
| 5-Year Change | 27.34% |
| 10-Year Change | 29.57% |
| Growth Volatility | 134.46 |
Plaza Retail REIT - Net Assets Trend (1999–2024)
This chart illustrates how Plaza Retail REIT's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Plaza Retail REIT (1999–2024)
The table below shows the annual net assets of Plaza Retail REIT from 1999 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | $543.60 Million | -0.97% |
| 2023-12-31 | $548.92 Million | +5.30% |
| 2022-12-31 | $521.30 Million | +4.70% |
| 2021-12-31 | $497.89 Million | +16.63% |
| 2020-12-31 | $426.90 Million | -9.45% |
| 2019-12-31 | $471.45 Million | +4.37% |
| 2018-12-31 | $451.70 Million | -2.46% |
| 2017-12-31 | $463.10 Million | +2.51% |
| 2016-12-31 | $451.74 Million | +7.67% |
| 2015-12-31 | $419.55 Million | +2.99% |
| 2014-12-31 | $407.39 Million | +24.34% |
| 2013-12-31 | $327.64 Million | +30.42% |
| 2012-12-31 | $251.21 Million | +26.37% |
| 2011-12-31 | $198.79 Million | +688.06% |
| 2010-12-31 | $25.23 Million | -18.36% |
| 2009-12-31 | $30.90 Million | +4.85% |
| 2008-12-31 | $29.47 Million | +4.49% |
| 2007-12-31 | $28.20 Million | +15.86% |
| 2006-12-31 | $24.34 Million | +29.05% |
| 2005-12-31 | $18.86 Million | +3.32% |
| 2004-12-31 | $18.26 Million | +1.52% |
| 2003-12-31 | $17.98 Million | +2.49% |
| 2002-12-31 | $17.55 Million | +5.79% |
| 2001-12-31 | $16.59 Million | +13.72% |
| 2000-12-31 | $14.59 Million | +109.55% |
| 1999-12-31 | $6.96 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Plaza Retail REIT's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 71442.1% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $227.18 Million | 42.01% |
| Common Stock | $313.63 Million | 57.99% |
| Total Equity | $540.82 Million | 100.00% |
Plaza Retail REIT Competitors by Market Cap
The table below lists competitors of Plaza Retail REIT ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
China Chippacking Technology Co. Ltd. A
SHG:688216
|
$193.34 Million |
|
Ziel Home Furnishing Technology Co. Ltd. A
SHE:301376
|
$193.38 Million |
|
Aldel Financial II Inc. Units
NASDAQ:ALDFU
|
$193.39 Million |
|
Inner Mongolia Ojing Science & Technology Co. Ltd. A
SHE:001269
|
$193.39 Million |
|
Bleichroeder Acquisition Corp. I Class A Ordinary Shares
NASDAQ:BACQ
|
$193.32 Million |
|
Shattuck Labs Inc
NASDAQ:STTK
|
$193.29 Million |
|
Bus Online Co Ltd
SHE:002188
|
$193.28 Million |
|
Koatsu Gas Kogyo Co. Ltd
PINK:KTSUF
|
$193.28 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Plaza Retail REIT's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 546,487,000 to 540,815,000, a change of -5,672,000 (-1.0%).
- Net income of 25,045,000 contributed positively to equity growth.
- Dividend payments of 30,902,000 reduced retained earnings.
- Share repurchases of 18,000 reduced equity.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $25.05 Million | +4.63% |
| Dividends Paid | $30.90 Million | -5.71% |
| Share Repurchases | $18.00K | -0.0% |
| Other Changes | $203.00K | +0.04% |
| Total Change | $- | -1.04% |
Book Value vs Market Value Analysis
This analysis compares Plaza Retail REIT's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.53x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has decreased from 7.12x to 0.53x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1999-12-31 | $0.37 | $2.62 | x |
| 2000-12-31 | $0.71 | $2.62 | x |
| 2001-12-31 | $0.60 | $2.62 | x |
| 2002-12-31 | $0.58 | $2.62 | x |
| 2003-12-31 | $0.56 | $2.62 | x |
| 2004-12-31 | $0.56 | $2.62 | x |
| 2005-12-31 | $0.51 | $2.62 | x |
| 2006-12-31 | $0.52 | $2.62 | x |
| 2007-12-31 | $0.63 | $2.62 | x |
| 2008-12-31 | $0.61 | $2.62 | x |
| 2009-12-31 | $0.54 | $2.62 | x |
| 2010-12-31 | $0.50 | $2.62 | x |
| 2011-12-31 | $3.13 | $2.62 | x |
| 2012-12-31 | $3.71 | $2.62 | x |
| 2013-12-31 | $3.60 | $2.62 | x |
| 2014-12-31 | $4.28 | $2.62 | x |
| 2015-12-31 | $4.48 | $2.62 | x |
| 2016-12-31 | $4.55 | $2.62 | x |
| 2017-12-31 | $4.52 | $2.62 | x |
| 2018-12-31 | $4.35 | $2.62 | x |
| 2019-12-31 | $4.57 | $2.62 | x |
| 2020-12-31 | $4.15 | $2.62 | x |
| 2021-12-31 | $4.85 | $2.62 | x |
| 2022-12-31 | $5.10 | $2.62 | x |
| 2023-12-31 | $4.99 | $2.62 | x |
| 2024-12-31 | $4.90 | $2.62 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Plaza Retail REIT utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 4.63%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 20.65%
- • Asset Turnover: 0.10x
- • Equity Multiplier: 2.29x
- Recent ROE (4.63%) is below the historical average (8.55%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1999 | 4.56% | 16.14% | 0.09x | 2.99x | $-378.48K |
| 2000 | 4.87% | 9.44% | 0.10x | 4.97x | $-748.07K |
| 2001 | 6.65% | 6.69% | 0.17x | 5.94x | $-546.17K |
| 2002 | 2.35% | 2.06% | 0.18x | 6.20x | $-1.30 Million |
| 2003 | 4.13% | 3.51% | 0.18x | 6.41x | $-1.04 Million |
| 2004 | 13.52% | 10.17% | 0.17x | 7.65x | $634.80K |
| 2005 | -1.19% | -0.80% | 0.16x | 9.14x | $-2.11 Million |
| 2007 | 12.78% | 9.10% | 0.15x | 9.57x | $784.70K |
| 2008 | 20.45% | 12.97% | 0.16x | 10.02x | $3.04 Million |
| 2009 | 13.68% | 7.89% | 0.16x | 11.01x | $1.03 Million |
| 2010 | 10.15% | 4.97% | 0.16x | 12.57x | $38.50K |
| 2011 | 14.99% | 50.58% | 0.10x | 2.94x | $9.36 Million |
| 2012 | 18.35% | 73.38% | 0.10x | 2.56x | $19.84 Million |
| 2013 | -3.67% | -13.95% | 0.09x | 3.09x | $-43.21 Million |
| 2014 | 21.52% | 91.32% | 0.10x | 2.40x | $45.65 Million |
| 2015 | 9.15% | 39.62% | 0.09x | 2.46x | $-3.51 Million |
| 2016 | 7.29% | 32.56% | 0.10x | 2.30x | $-12.15 Million |
| 2017 | 5.06% | 22.58% | 0.10x | 2.25x | $-22.65 Million |
| 2018 | 2.70% | 11.60% | 0.10x | 2.37x | $-32.66 Million |
| 2019 | 11.00% | 45.71% | 0.10x | 2.49x | $4.69 Million |
| 2020 | -3.54% | -13.97% | 0.09x | 2.70x | $-57.18 Million |
| 2021 | 20.18% | 90.04% | 0.09x | 2.46x | $50.26 Million |
| 2022 | 10.39% | 48.44% | 0.09x | 2.45x | $2.00 Million |
| 2023 | 3.69% | 17.20% | 0.09x | 2.31x | $-34.46 Million |
| 2024 | 4.63% | 20.65% | 0.10x | 2.29x | $-29.04 Million |
Industry Comparison
This section compares Plaza Retail REIT's net assets metrics with peer companies in the REIT - Retail industry.
Industry Context
- Industry: REIT - Retail
- Average net assets among peers: $22,048,860,627
- Average return on equity (ROE) among peers: 3.28%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Plaza Retail REIT (PAZRF) | $551.20 Million | 4.56% | 1.31x | $193.32 Million |
| Agree Realty Corporation (ADC) | $137.98 Million | 10.88% | 0.90x | $9.41 Billion |
| AEORF (AEORF) | $210.91 Billion | 5.61% | 0.83x | $1.34 Billion |
| Acadia Realty Trust (AKR) | $83.00 Million | 4.58% | 2.01x | $2.69 Billion |
| Alexander & Baldwin Holdings Inc (ALEX) | $1.07 Billion | 3.30% | 0.75x | $1.50 Billion |
| Alexanders Inc (ALX) | $50.92 Million | -34.84% | 17.09x | $515.62 Million |
| Saul Centers Inc (BFS) | $-4.60 Million | 0.00% | 0.00x | $453.57 Million |
| Brixmor Property (BRX) | $2.72 Billion | 9.94% | 2.08x | $8.61 Billion |
| CBL & Associates Properties Inc (CBL) | $1.08 Billion | 10.83% | 4.49x | $694.28 Million |
| Capital & Counties Properties PLC (CCPPF) | $2.51 Billion | 17.90% | 0.23x | $1.88 Billion |
| CapitaLand China Trust (CLDHF) | $1.93 Billion | 4.63% | 1.02x | $745.61 Million |