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TSE:HR.UN

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

11.39
+0.90 (8.58%)
as of Jun 11, 2026, 8:00:00 pm Market Open.
408 watching
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Investor Insights
star iconJun 11, 2026, 12:00 am

This summary was created by AI, based on 2 opinions in the last 12 months.

H&R Real Estate Investment Trust (HR.UN) is currently viewed as a classic value stock with a strategic pivot towards focusing on multi-family properties in the U.S. and industrial assets in Canada. Despite recent attempts to explore strategic alternatives leading to an expected non-sale, there is a commitment to reduce non-core assets and refocus operations. Experts note the ongoing pressures in the Sun Belt region related to new supply, yet they highlight an attractive yield for investors biding their time. Additionally, there is mention of potential interest in the company in light of a recent hostile takeover attempt, with speculations of possible higher bids emerging, reinforcing the stock's re-evaluation amidst market conditions.

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Consensus
Hold
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Valuation
Fair Value
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Cdn.TO
COMMENT
Government has indicated no interest rate increases for the better part of a year and, if so, some of the REITs are going to be great holds because of the yield. This one would be the top of his list. If you buy at now, be nimble as you may have to get out in a hurry as it is interest rate sensitive.
PARTIAL SELL
They were caught offside with the Bow building in Calgary when there were a lot of vacancies and financing had seized up. Recently retired expensive financing so there is no liquidity problem. Have great properties. Has had a good run so if you own, consider shaving.
COMMENT
Extremely high-quality REIT. Strong management but not as aligned as he would like. Prefers management that owns a lot of units and are internal. Reasonable yield with the prospect of a distribution increase over the next 12-24 months. Trading in the range of its NAV.
TOP PICK
5.196% bond maturing Feb 3/15. Likes the company as an equity. The bond yields more than a lot of the conventional investment grade bonds.
BUY ON WEAKNESS
Cut their distribution in half a couple of years ago and have released a schedule on the increases from $.72 to $1.06 over the next 2 years. You can buy at this level for single-digit returns.
TOP PICK
Great defensive stock and probably one of the top REITs in Canada. Have announced they are going to increase their distribution each quarter for the next 2 years. Great portfolio across Canada. Should do very well when Encana Tower in Calgary is completed. Current market will give you plenty of opportunities pick away on Dips. 5% yield.
TOP PICK
Strong thirst for yield by investors now. Multi-type property landlord including industrial, retail and office. About 99% occupied. Yield of about 5%. Only paying out about 5% of their profit. Expect between now and 2012 they will increase their distributions by 45%.
TOP PICK
He has been in and out of this one. These guys are good. They imploded. He’s staying in now. Encana is their tenant. They created a large amount of money on that deal. Good long-term investment. Good chance of a distribution incrase.
TOP PICK
Concerned that there will be a slow economy and this one has its payout ratio down to about 50% and their debt is moderate. Building up cash. Still have to finish the Bow building in Calgary. Have announced they are going to gradually bring the distribution up in 8 moves.
BUY
Good price and he can see good distribution increases over the next couple of years.
TOP PICK
Developing Encana (ECA-T) head office in Calgary. They have the option to sell half. There are rumblings that they could increase their distributions later this year.
BUY
H & R Real Estate (HR.UN-T) or RioCan (REI.UN-T)? H & R has done very well while RioCan has under performed. Because H & R had to cut distributions (now 4.2%) because of debt, they will likely raise distributions. In very good shape. RioCan overpays on distributions so are under a bit of a cloud. Both are okay and you are not wrong either way.
BUY
Under pressure because of difficulties in financing the Bow project in Calgary. Have now solved this by cutting distributions in half. Looking down the road 2-3 years, he likes it. Only 35% of its distribution is subject to full tax rates.
COMMENT
Debentures. Well managed company with exposure to large office complexes and geographically diversified. REITs will benefit as income trusts have to convert to corporations and people are looking for yield.
BUY
Had a lot of trouble with the Bow building in Calgary but now have that all taken care of. Payout ratio is phenomenally low. Barring any major surprise, a very safe holding and the income is highly likely to rise. Long-term leases.
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