TSE:HR.UN

H&R Real Estate Inv Trust (HR.UN.TO)

10.35
-0.15 (1.43%)
as of Aug 14, 2026, 8:00:00 pm Market Open.
409 watching
0
Investor Insights
star iconAug 13, 2026, 12:00 am

This summary was created by AI, based on 1 opinions in the last 12 months.

H&R Real Estate Investment Trust (HR.UN-T) has been described as a classic value stock that recently completed a strategic alternatives plan, which unfortunately did not result in a sale of the company as initially hoped. The company is now focusing on refocusing its operations, particularly by selling down non-core assets and concentrating on multi-family properties in the U.S. and industrial assets in Canada. This strategic shift comes at a time when the Sun Belt region in the U.S. is facing significant pressure from new supply in the market. Despite the challenges, the firm offers an attractive yield to investors willing to wait, as there is potential for a value-maximizing transaction in the future. Overall, the plan appears to be realistic, but successful execution will be necessary for long-term performance.

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Consensus
Positive
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Valuation
Undervalued
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CFS.UN
TOP PICK
Built the Bow office building in Calgary and hadn't locked in the tenant before the financial crisis hit. Raising its dividend by $.20 over the next year.
BUY
Excellent company. This one is closest to a bond in the business. Tend to have long-term leases. Just did a major stock issue. Very low payout ratio. 5% yield.
DON'T BUY
Still have to finance their Calgary Bow building at some point. That will be an issue hanging over them until they figure out what to do. Brought the distribution way down but are gradually bringing it up. Good long term leases. Income level is at its lowest right now, so not terribly exciting. 5% yield.
WEAK BUY
Excellent managers. Stock price has fallen more than rest of sector. More with development side so there is a feeling you will see some softness.
COMMENT
Got into trouble a couple of years ago with the BOW building in Calgary but this is going to prove to be a home run. You can count on the distribution. Not enough ownership by the principals.
BUY
Payout ratio is extremely low and they are low on debt. In the past, they were the closest to being a bond because of very long-term leases with an edging up of the rents. Will be increasing their distributions for a while.
BUY
Recently purchased a $400 million office building in Long Island with a long-term lease. Compelling value at these levels.
PAST TOP PICK
(A Top Pick June 18/10. Up 34.65%.)
COMMENT
The Bow in Calgary is pretty much completed and they will be leasing it out at full value. The recovery has been embedded in the stock price. Doesn't say much capital gains but the 5% yield is good for a conservative play.
PAST TOP PICK
(A Top Pick July 2/10. Up 33.31%.) You can still buy this one on dips. It has some growth in it. Don't chase the REITs.
PAST TOP PICK
(Top Pick Jun 28’10, Up 34.58%) This is the biggest weighting of REITs in his portfolio. Average of 99% occupancy. Can raise capital at 4.5%, gets 5% yield with a little bit of growth. 3% cash flow growth. Core position. Won’t sell any time soon. Cheap relative to US REITs.
TOP PICK
Feels it trades at quite a discount to its peers. Just in the finishing stages of the big complex they bought in Calgary. This company has very high occupancy rates, good growth and a lot of projects in the pipeline. 4%+ dividend.
TOP PICK
5% due Dec 1/18. Attractive yield. Starting yield higher than Government of Canada means it is likely to have a positive rate of return in the next 12 months. This one is undervalued in the bond market.
BUY
The most tax efficient income he can deliver to his unit holders. He always looks for free cash flow in a business. REITS have had a good recovery off the bottom but are not back all the way. 8-12% returns over the next year.
PAST TOP PICK
(A Top Pick April 28/10. Up 35.48%.) Good quality name.
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