Hey guys how’s it going? Today I wanted to share with you a purchase I made on the stock market last week. Last Thursday I purchased more shares of Plaza REIT. This was my second purchase of the stock. Plaza’s stock was sitting at a 52 week low and I had a little bit of money sitting in my Tax Free Savings Account so I decided to buy more shares and lower my average cost.
What is Plaza REIT?
Plaza Retail REIT (Plaza) is a Canada-based open-ended real estate investment trust. The Company’s objective is to deliver a growing yield to unitholders from a diversified portfolio of retail properties. The Company develops, owns and manages retail real estate primarily in Atlantic Canada, Quebec and Ontario. The Company offers a business strategy that differs from various peers in the real estate industry. The Company’s portfolio includes interests in approximately 310 properties totaling over 7.1 million square feet, which are predominantly occupied by national tenants and additional lands held for development. These include properties indirectly held by Plaza through its subsidiaries and through joint arrangements. The Company’s properties are located in Alberta, Newfoundland and Labrador, New Brunswick, Nova Scotia, Manitoba, Ontario, Prince Edward Island and Quebec. The Company’s subsidiaries include Plaza Master Limited Partnership and Scott’s Real Estate Limited Partnership.
Source (RBC Direct Investing)
Transaction
On March 8th I purchased 502 shares @ $3.94 per share. The cost of the transaction was $1,987.87 including trading fee.
Before the purchase I owned 502 shares, so with this buy I doubled my share count to 1,004. With this purchase my average cost drops to $4.16 from $4.39.
Income
Plaza REIT pays a monthly dividend of $0.0233 the new shares will boost my monthly income by $11.70 and $140.40 annually.
With this purchase I used up all of my available cash so now I will be sitting back and collecting my dividends to rebuild my cash piles.
Thanks for reading
Matthew
All About The Dividends 
Nice buy (again).
May sit low for a while – but over the long term – should be a good one. I think they are on 23 consecutive dividend increases now or something crazy
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Wow that is huge matt. You guys have got me thinking of starting a position!
1000 shares in one company is impressive. I loook forward to having that!
Cheers
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It is kind of crazy to have 1,000 shares of a company 🙂 Plaza is a good investment in my opinion. Starting next month I will be able to drip 5 shares per month.
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I’m about to pull the trigger on this one this week! I think it’s a great opportunity to buy it under $4! Good call, man! I’m also getting excited about ENB, ALA and IPL.
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I agree under $4 definitely a buy. Those other stocks you mentioned are pretty darn good as well. I look forward to reading your site to see whether you purchased them
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I don’t think REITs are a good investment at this stage of the cycle. REIT’s tend to underperform the broad stock market when central bankers are hiking interest rates, which is what’s going on right now.
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Which for a dividend growth stock is awesome, dripping at low prices 🙂
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