Revealed on February nineteenth, 2026 by Bob Ciura
Month-to-month dividend shares have prompt enchantment for a lot of revenue traders. Shares that pay their dividends every month supply extra frequent payouts than conventional quarterly or semi-annual dividend payers.
For that reason, we created a full record of over 100 month-to-month dividend shares.
You may obtain our full Excel spreadsheet of all month-to-month dividend shares (together with metrics that matter like dividend yields and payout ratios) by clicking on the hyperlink under:
Plaza Retail REIT (PAZRF) is a month-to-month dividend inventory with a excessive yield. This doubtlessly makes the inventory extra enticing for revenue traders searching for extra frequent dividend payouts.
This text will analyze Plaza Retail REIT in larger element.
Enterprise Overview
Plaza Retail REIT is a Canadian open-ended retail actual property funding belief centered on the possession, improvement, redevelopment, and administration of essential-needs, comfort, and value-oriented retail properties throughout Canada, with a core focus in Ontario, Quebec, and Atlantic Canada.
As of September thirtieth, 2025, the Belief had pursuits in 197 properties totaling 8.8 million sq. ft of gross leasable space, predominantly open-air facilities and single-use retail property leased primarily to nationwide tenants.
The portfolio has very excessive occupancy (97.5% same-asset dedicated), lengthy common lease phrases, and robust publicity to grocery, pharmacy, and each day-needs retailers. Plaza Retail posted $86.6 million in revenues final yr.
On November twelfth, 2025, Plaza Retail REIT reported its Q3 outcomes for the quarter ended September thirtieth, 2025. Rental income was $22.8 million, up about 4% yr over yr, pushed by hire escalations, leasing exercise, and contributions from developments and properties transferred to income-producing standing.
Internet property working revenue elevated to $14.7 million, supported by 1.7% same-asset NOI progress and same-asset dedicated occupancy of 97.5%, up 60 foundation factors yr over yr. Beneath the working line, increased leasing and upkeep capital expenditures associated to asset optimization weighed on money move.
Because of this, AFFO declined 10% yr over yr, with AFFO per share of about $0.055, regardless of continued power in underlying property operations. For FY2025, we see AFFO per share of $0.20.
Development Prospects
Plaza Retail REIT has posted comparatively steady AFFO per share over the previous decade. Plaza supported modest AFFO progress via same-asset NOI will increase from leasing hire escalations, excessive occupancy, and contributions from developments and redevelopments transferred to income-producing standing.
However this was tempered by periodic fairness issuances to fund progress, which expanded the unit rely and exerted dilution stress on per-unit metrics.
The pandemic interval (2020) noticed softness in money move associated to transitional leasing and market situations, with working efficiency resilient however AFFO per unit nonetheless pressured by ongoing bills and capital necessities.
Put up pandemic, Plaza once more delivered same-asset NOI progress and stabilized occupancy, supported by hire escalations and developments reaching stabilized NOI, however these features had been continuously offset by increased upkeep and leasing prices, and a weaker CAD in opposition to USD.
Extra lately, from 2022–2024, AFFO per share traits remained subdued as incremental NOI features from leasing and improvement absorption had been largely offset by increased working bills, expanded administrative prices, and curiosity prices, in addition to the influence of unit issuances in prior intervals.
Whereas property efficiency and occupancy remained robust, the continued capital depth of optimizing retail property restricted progress on a per-unit foundation.
Shifting ahead, we see no progress in AFFO per share as a result of incremental NOI from hire escalations and improvement completions is more likely to be offset by elevated upkeep and leasing capital necessities, excessive payout ranges.
We additionally forecast no progress within the dividend, which the corporate has maintained at C$0.0233 per 30 days since 2018, when the newest hike passed off.
Dividend & Valuation Evaluation
Plaza Retail REIT has a considerably brief historical past buying and selling in its OTC itemizing. Throughout this era, its P/AFFO has hovered within the high-single digits to low-teens.
At present, the a number of has expanded to a richer 15.3x AFFO. We consider this a number of possible overvalues the inventory given the shortage of significant progress. We’ve set our honest a number of at a extra cheap 13.0x.
A declining P/FFO ratio might scale back annual returns by 3.2% per yr over the subsequent 5 years.
Within the meantime, the inventory affords a dividend yield of 6.5%, under the common of its more moderen years. Nonetheless, with a 2025 anticipated dividend payout ratio of 100%, the dividend just isn’t sufficiently coated and might be liable to a future lower, notably in a recession.
Together with no anticipated FFO progress, whole returns are estimated at 3.3% per yr going ahead.
Last Ideas
Plaza Retail REIT affords resilient, necessity-based retail property and a confirmed document of sustaining its distribution, however excessive payout ratios and capital depth ought to constrain long-term AFFO per unit progress.
Shifting ahead, we forecast annualized returns of simply 3.3%, as returns from the dividend might be offset by a valuation headwind.
Due to that and the shortage of dividend progress, we charge the inventory a promote.
Further Studying
Don’t miss the assets under for extra month-to-month dividend inventory investing analysis.
And see the assets under for extra compelling funding concepts for dividend progress shares and/or high-yield funding securities.
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