TSE:HR.UN

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

11.18
+0.10 (0.90%)
as of Jul 24, 2026, 8:00:00 pm Market Open.
408 watching
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Investor Insights
star iconJul 25, 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 identified as a classic value stock with a focus on strategic alternatives. Recent efforts to divest non-core segments did not culminate in a company sale, but rather led to a more realistic approach of concentrating on multi-family properties in the U.S. and industrial assets in Canada. The plan has its merits, primarily revolving around execution, given the pressure from new supply, especially in the Sun Belt region. Investors can benefit from an attractive yield as they wait for potential value-maximizing transactions. Overall, while there are challenges to navigate, the strategic refocus provides a foundation for future growth and stability.

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Consensus
Positive
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Valuation
Undervalued
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BBD.B
COMMENT
Qualifies as a REIT under current regulations so will not have to convert. Worth $17 now but if they sell 50% of the Bow tower in Calgary this could change.
COMMENT
They were beaten up because of the Bow project in Calgary and fears of their ability to finance it and this is now in the background.. Because it is a REIT, it will be exempt from having to change in 2011. If interest rates go up, any interest sensitive stock will be under pressure and this would be the one caveat against buying it.
TOP PICK
Bond 5.196% 02/03/2015. He likes the company and the management. They survived the credit crisis. Likes the REIT and the REIT model. A lot higher than bank bonds are paying. This is what people should expect from the bond market.
BUY
Has come back nicely but still has some room to grow. Good yields.
HOLD
Building is 30 stories out of the ground, to be completed in 2011/12. It’s fairly valued at these levels. Distribution increase expected in 2011.
BUY
Had a bit of a credit issue on their balance sheet because of the Bow building in Calgary but that has all been fixed. Encana (ECA-T) is their main tenant. Asian investors are starting to buy real estate. For long-term investors that need yield this is a good holding. Won't have to convert.
BUY
Financing is now in place. Long-term assets with long-term leases. Good long-term hold.
TOP PICK
Made a major bet on the Bow office building in Calgary, which bit them when it wasn't properly financed. Still suffering from valuation on the overhang. Once cash flow starts coming in 2012 there will be a hefty rise in distributions which will give you 9%-10% on today's prices.
TOP PICK
Steady, stable, high-quality REIT. Now benefited from clarification of the financing on the Bow in Calgary. Steady and stable yield should continue.
PAST TOP PICK
(A Top Pick Dec 8/08. Up 62.69%.)
TOP PICK
This is the yield play. Had some problems in Calgary with the new development but once the building is completed he expects distribution increases. Won't be for a few years but he will be patient with 5%. Very conservatively run company with a very low pay out.
TOP PICK
Stable group of properties. Knowledgeable management. Biggest project is the Bow in Calgary but they do have the cash to complete it. Thinks management could sell a portion of the Bow Tower to a pension fund and distribution could go up. 5.6% distribution is very safe.
COMMENT
Recently sold half his position as he saw the momentum coming out of the trust. He may even sell the other half. It has had a good run and there are other things he would like to invest in.
HOLD
COMMENT
They were very seriously challenged with the Bow building in Calgary and probably lost $200-$300 million on the value of it so far. Have recovered significantly and brought their payout ratio way down and is now very low. Yield of about 5%. Danger of a yield cut is minimum.
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