It’s important for new investors to understand that building a steady stream of passive income doesn’t always require a large portfolio. Sometimes, the right stock with reliable dividend payouts could make a meaningful difference over time. In this article, I’ll break down one such TSX stock and how a $14,000 investment in it could turn into a steady annual income stream, generating more than $900.
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Plaza Retail REIT stock
Plaza Retail REIT (TSX: PLZ.UN) is a Canadian real estate investment trust (REIT) that owns and develops retail properties across the country. Its portfolio currently includes approximately 211 properties totaling around 8.9 million square feet, primarily located in Ontario, Quebec, and Atlantic Canada. These properties are largely occupied by national tenants in essential, value, and convenience segments.
The REIT has built a strong presence in the Canadian retail property market with a focus on open-air centres and stand-alone retail locations. Its strategy of targeting essential service tenants helps make its portfolio more resilient even during economic uncertainty.
After climbing 21% in the last 12 months, Plaza’s stock trades at $4.29 per unit with a market cap of $473.8 million. This strong performance clearly shows the underlying strength of its business model despite broader market challenges.
One of the biggest attractions of this REIT is its monthly dividend. It currently offers a yield of 6.5%, meaning a $14,000 investment could generate approximately $913 in annual income. This could create consistent monthly cash flow for investors.
Key factors behind Plaza Retail REIT’s recent performance
Plaza Retail REIT continues to maintain strong operating fundamentals. Its committed occupancy rate stands at 97.6%, reflecting high demand for its properties and the quality of its tenant base.
In 2025, the company reported total funds from operations (FFO) of $44 million, reflecting an 8.8% year-over-year (YoY) increase. Similarly, its net operating income (NOI) rose 2.7% YoY to $77 million. This growth was mainly driven by same-property performance, new acquisitions, and development initiatives. Lower administrative expenses also supported improved profitability, while ongoing projects added about $3 million in incremental NOI.
Optimization and expansion could drive growth
Plaza Retail REIT continues to focus on optimizing and expanding its portfolio. Its strategy includes redeveloping existing properties, acquiring new assets, and enhancing overall asset quality. The REIT’s emphasis on essential retail tenants positions it well for long-term stability as demand for these types of properties tends to remain steady, even during economic slowdowns.
Going forward, the company expects its ongoing projects and leasing momentum to support stronger operational performance. While there may be some short-term fluctuations in Plaza’s adjusted funds from operations (AFFO), its long-term outlook remains positive.
| COMPANY | RECENT PRICE | NUMBER OF SHARES | INVESTMENT | DIVIDEND PER SHARE (MONTHLY) | YEARLY PAYOUT |
| Plaza Retail REIT | $4.29 | 3,263 | $13,998 | $0.02333 | $913.50 |
| Prices as of Apr 13, 2026 |
Why invest now?
Plaza Retail REIT offers a great combination of reliable income and steady growth. Its strong occupancy, disciplined management, and focus on essential retail give it a solid foundation.
For investors seeking stable passive income, its monthly dividend is a key advantage, which could turn a $14,000 investment into a predictable income stream while also offering potential for capital appreciation over time.
