The Globe and Mail reports in its Saturday, Nov. 22, edition that CIBC analyst Tal Woolley says Plaza REIT is prioritizing redevelopments and intensifications of existing properties over greenfield projects because of "elevated construction costs and retailers preferring established locations. The Globe's John Heinzl writes that Mr. Woolley says: "Plaza hasn't increased its distribution since the beginning of 2018. But it's important to note that Plaza, unlike many REITs, didn't cut its distribution during the pandemic. Given the REIT's already generous distribution yield of about 7 per cent, the board likely feels there are better uses for its capital than shovelling even more cash to unitholders. Mr. Heinzl says he shares investor frustration with the stagnant unit price, which has oscillated around the $4 level for the past several years. The units closed Friday at $4.03. Still, Mr. Heinzl says he planning to hold on given Plaza's attractive yield and improving fundamentals. In its third quarter results released on Nov. 12, Plaza said funds from operations rose 8.6 per cent from a year earlier to $12.4-million, reflecting acquisitions, intensification projects and higher net operating income from existing properties.