Plaza Retail REIT (PLZ-UN) - Net Assets
Based on the latest financial reports, Plaza Retail REIT (PLZ-UN) has net assets worth CA$568.54 Million CAD (≈ $411.27 Million USD) as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (CA$1.28 Billion ≈ $926.93 Million USD) and total liabilities (CA$712.84 Million ≈ $515.66 Million USD). 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. Check Plaza Retail REIT (PLZ-UN) liquid assets ratio to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | CA$568.54 Million |
| % of Total Assets | 44.37% |
| Annual Growth Rate | 18.45% |
| 5-Year Change | 14.19% |
| 10-Year Change | 25.85% |
| Growth Volatility | 132.02 |
Plaza Retail REIT - Net Assets Trend (1999–2025)
This chart illustrates how Plaza Retail REIT's net assets have evolved over time, based on quarterly financial data. Also explore balance sheet size of Plaza Retail REIT for the complete picture of this company's asset base.
Annual Net Assets for Plaza Retail REIT (1999–2025)
The table below shows the annual net assets of Plaza Retail REIT from 1999 to 2025. For live valuation and market cap data, see Plaza Retail REIT market cap and net worth.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | CA$568.54 Million ≈ $411.27 Million |
+4.59% |
| 2024-12-31 | CA$543.60 Million ≈ $393.23 Million |
-0.97% |
| 2023-12-31 | CA$548.92 Million ≈ $397.08 Million |
+5.30% |
| 2022-12-31 | CA$521.30 Million ≈ $377.10 Million |
+4.70% |
| 2021-12-31 | CA$497.89 Million ≈ $360.17 Million |
+16.63% |
| 2020-12-31 | CA$426.90 Million ≈ $308.81 Million |
-9.45% |
| 2019-12-31 | CA$471.45 Million ≈ $341.04 Million |
+4.37% |
| 2018-12-31 | CA$451.70 Million ≈ $326.75 Million |
-2.46% |
| 2017-12-31 | CA$463.10 Million ≈ $335.00 Million |
+2.51% |
| 2016-12-31 | CA$451.74 Million ≈ $326.78 Million |
+7.67% |
| 2015-12-31 | CA$419.55 Million ≈ $303.50 Million |
+2.99% |
| 2014-12-31 | CA$407.39 Million ≈ $294.70 Million |
+24.34% |
| 2013-12-31 | CA$327.64 Million ≈ $237.01 Million |
+30.42% |
| 2012-12-31 | CA$251.21 Million ≈ $181.72 Million |
+26.37% |
| 2011-12-31 | CA$198.79 Million ≈ $143.80 Million |
+688.06% |
| 2010-12-31 | CA$25.23 Million ≈ $18.25 Million |
-18.36% |
| 2009-12-31 | CA$30.90 Million ≈ $22.35 Million |
+4.85% |
| 2008-12-31 | CA$29.47 Million ≈ $21.32 Million |
+4.49% |
| 2007-12-31 | CA$28.20 Million ≈ $20.40 Million |
+15.86% |
| 2006-12-31 | CA$24.34 Million ≈ $17.61 Million |
+29.05% |
| 2005-12-31 | CA$18.86 Million ≈ $13.65 Million |
+3.32% |
| 2004-12-31 | CA$18.26 Million ≈ $13.21 Million |
+1.52% |
| 2003-12-31 | CA$17.98 Million ≈ $13.01 Million |
+2.49% |
| 2002-12-31 | CA$17.55 Million ≈ $12.69 Million |
+5.79% |
| 2001-12-31 | CA$16.59 Million ≈ $12.00 Million |
+13.72% |
| 2000-12-31 | CA$14.59 Million ≈ $10.55 Million |
+109.55% |
| 1999-12-31 | CA$6.96 Million ≈ $5.04 Million |
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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 79116.4% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | CA$251.55 Million | 44.50% |
| Common Stock | CA$313.70 Million | 55.50% |
| Total Equity | CA$565.25 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 |
|---|---|
|
IVU Traffic Technologies AG
XETRA:IVU
|
$357.92 Million |
|
Entree Resources Ltd
TO:ETG
|
$357.93 Million |
|
Lifeway Foods Inc
NASDAQ:LWAY
|
$358.03 Million |
|
Vox Royalty Corp.
TO:VOXR
|
$358.04 Million |
|
Diamond Food Indonesia PT
JK:DMND
|
$357.85 Million |
|
Jiangsu Lanfeng Bio-chemical Co Ltd
SHE:002513
|
$357.80 Million |
|
Magna Mining Inc
V:NICU
|
$357.75 Million |
|
G Willi-Food International Ltd
TA:WILC
|
$357.74 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 2024 to 2025, total equity changed from 540,815,000 to 565,252,000, a change of 24,437,000 (4.5%).
- Net income of 55,285,000 contributed positively to equity growth.
- Dividend payments of 30,915,000 reduced retained earnings.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CA$55.28 Million | +9.78% |
| Dividends Paid | CA$30.91 Million | -5.47% |
| Other Changes | CA$67.00K | +0.01% |
| Total Change | CA$- | 4.52% |
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: 0.90x
- 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 12.17x to 0.90x 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 | CA$0.37 | CA$4.48 | x |
| 2000-12-31 | CA$0.71 | CA$4.48 | x |
| 2001-12-31 | CA$0.60 | CA$4.48 | x |
| 2002-12-31 | CA$0.58 | CA$4.48 | x |
| 2003-12-31 | CA$0.56 | CA$4.48 | x |
| 2004-12-31 | CA$0.56 | CA$4.48 | x |
| 2005-12-31 | CA$0.51 | CA$4.48 | x |
| 2006-12-31 | CA$0.54 | CA$4.48 | x |
| 2007-12-31 | CA$0.63 | CA$4.48 | x |
| 2008-12-31 | CA$0.61 | CA$4.48 | x |
| 2009-12-31 | CA$0.54 | CA$4.48 | x |
| 2010-12-31 | CA$0.50 | CA$4.48 | x |
| 2011-12-31 | CA$3.13 | CA$4.48 | x |
| 2012-12-31 | CA$3.71 | CA$4.48 | x |
| 2013-12-31 | CA$3.60 | CA$4.48 | x |
| 2014-12-31 | CA$4.28 | CA$4.48 | x |
| 2015-12-31 | CA$4.48 | CA$4.48 | x |
| 2016-12-31 | CA$4.55 | CA$4.48 | x |
| 2017-12-31 | CA$4.52 | CA$4.48 | x |
| 2018-12-31 | CA$4.35 | CA$4.48 | x |
| 2019-12-31 | CA$4.14 | CA$4.48 | x |
| 2020-12-31 | CA$4.10 | CA$4.48 | x |
| 2021-12-31 | CA$4.33 | CA$4.48 | x |
| 2022-12-31 | CA$4.56 | CA$4.48 | x |
| 2023-12-31 | CA$4.88 | CA$4.48 | x |
| 2024-12-31 | CA$4.90 | CA$4.48 | x |
| 2025-12-31 | CA$4.95 | CA$4.48 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Plaza Retail REIT utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 9.78%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 42.33%
- • Asset Turnover: 0.10x
- • Equity Multiplier: 2.27x
- Recent ROE (9.78%) is above the historical average (8.62%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1999 | 4.56% | 16.14% | 0.09x | 2.99x | CA$-378.48K |
| 2000 | 4.87% | 9.44% | 0.10x | 4.97x | CA$-748.07K |
| 2001 | 6.65% | 6.69% | 0.17x | 5.94x | CA$-546.17K |
| 2002 | 2.35% | 2.06% | 0.18x | 6.20x | CA$-1.30 Million |
| 2003 | 4.57% | 3.88% | 0.18x | 6.41x | CA$-961.57K |
| 2004 | 13.52% | 10.17% | 0.17x | 7.65x | CA$634.80K |
| 2005 | -1.19% | -0.80% | 0.16x | 9.14x | CA$-2.11 Million |
| 2007 | 12.78% | 9.10% | 0.15x | 9.57x | CA$784.70K |
| 2008 | 20.56% | 13.04% | 0.16x | 10.02x | CA$3.07 Million |
| 2009 | 13.68% | 7.89% | 0.16x | 11.01x | CA$1.03 Million |
| 2010 | 10.15% | 4.97% | 0.16x | 12.57x | CA$38.50K |
| 2011 | 14.99% | 50.58% | 0.10x | 2.94x | CA$9.36 Million |
| 2012 | 18.35% | 73.38% | 0.10x | 2.56x | CA$19.84 Million |
| 2013 | -3.67% | -13.95% | 0.09x | 3.09x | CA$-43.21 Million |
| 2014 | 21.52% | 91.32% | 0.10x | 2.40x | CA$45.65 Million |
| 2015 | 9.15% | 39.62% | 0.09x | 2.46x | CA$-3.51 Million |
| 2016 | 7.29% | 32.56% | 0.10x | 2.30x | CA$-12.15 Million |
| 2017 | 5.06% | 22.58% | 0.10x | 2.25x | CA$-22.65 Million |
| 2018 | 2.70% | 11.60% | 0.10x | 2.37x | CA$-32.66 Million |
| 2019 | 11.00% | 45.71% | 0.10x | 2.49x | CA$4.69 Million |
| 2020 | -3.54% | -13.97% | 0.09x | 2.70x | CA$-57.18 Million |
| 2021 | 20.18% | 90.04% | 0.09x | 2.46x | CA$50.26 Million |
| 2022 | 10.39% | 48.44% | 0.09x | 2.45x | CA$2.00 Million |
| 2023 | 3.69% | 17.70% | 0.09x | 2.31x | CA$-34.46 Million |
| 2024 | 4.63% | 20.65% | 0.10x | 2.29x | CA$-29.04 Million |
| 2025 | 9.78% | 42.33% | 0.10x | 2.27x | CA$-1.24 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: $2,236,507,269
- Average return on equity (ROE) among peers: 7.53%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Plaza Retail REIT (PLZ-UN) | CA$568.54 Million | 4.56% | 1.25x | $357.89 Million |
| Choice Properties Real Estate Investment Trust (CHP-UN) | $4.37 Billion | 18.24% | 2.96x | $3.59 Billion |
| CT Real Estate Investment Trust (CRT-UN) | $3.38 Billion | 2.84% | 0.83x | $1.39 Billion |
| Firm Capital Property Trust (FCD-UN) | $48.18 Million | 9.81% | 0.97x | $175.49 Million |
| First Capital Real Estate Investment Trust (FCR-UN) | $951.33 Million | 3.19% | 2.58x | $3.59 Billion |
| Primaris Retail R.E. Invest. Tr. Units (PMZ-UN) | $530.22 Million | 1.84% | 2.03x | $1.62 Billion |
| RioCan Real Estate Investment Trust (REI-UN) | $7.93 Billion | 1.79% | 1.02x | $4.53 Billion |
| Slate Grocery REIT (SGR-U) | $623.92 Million | 14.56% | 1.78x | $107.89K |
| Slate Grocery REIT (SGR-UN) | $931.10 Million | 13.83% | 1.44x | $694.00 Million |
| SmartCentres Real Estate Investment Trust (SRU-UN) | $1.37 Billion | 1.70% | 2.09x | $2.97 Billion |
About Plaza Retail REIT
Plaza Retail REIT 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 December 31, 2025, includes interests in 191 properties totaling approximately 8.8 million square feet across Canada and additional lands held for development. Plaza's portfolio largely consists of open-air centr… Read more