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

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Daily Stock Opinions and Ratings

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

Investor Insights

Jun 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.

Consensus

Hold

Valuation

Fair Value

Similar

Cdn.TO

TOP PICK

Took on a tremendous risk building the Bow tower in Calgary. Risk outlook is going to get much better. Wonderful contract of 25 years with price escalators and a solid client, Encana (ECA-T). Looking forward, construction and financing costs will be moving into their favour.

DON'T BUY

Quality company. Made a strategical error when they agreed to build the Bow Tower in Calgary for Encana (ECA-T). Original cost was supposed to be $1.1 billion but has gone up to $1.4 billion. Will have to come up with $800 million of financing. Other parts of their portfolio are doing very well. Expects there will be a distribution cut.

PAST TOP PICK

(A Top Pick Nov 2/07. Down 68%.) Picked it expecting they would get financing for the construction of the Bow in Calgary. Better opportunities considering the risk, so Sell.

COMMENT

18.8% yield. Stock is down significantly and he is currently doing a lot of work on this. Big problem is that it committed to building an office tower in Calgary for Encana (ECA-T). Quality tenant but they have not been able to lock down construction costs. Need about $800 million in debt financing, which is not going to be easy. Thinks the market has factored in a distribution cut.

WATCH

What is hurting them is speculation on how they are going to make out with the major Encana project in Calgary. Initially they were going to lay off 75% to pension funds. This has been delayed because of the current mess in the sub prime area. Once he likes the market, this is one he will definitely go into. REITs are exempt from the tax in 2011.

BUY

Developing a $1.4 billion head office in Calgary for Encana. Have invested about $350 million and are looking to secure $900 million of financing. If the credit market stays frozen for an extended period of time, distribution could be at risk.

HOLD

(Market Call Minute.) Still needs more clarity on the financing of the Bow development.

DON'T BUY

Has an issue with the Encana (ECA-T) building in Calgary and will lose a lot of money on this. Valuation on this has to shrink. Have a lot of debt and when they have to renegotiate their deal, interest rates will probably be a lot higher. Bear market in real estate has just started.

DON'T BUY

As a real estate reit it could have a fair amount of debt. 14.4% is not that high relative to a lot of other reits.

COMMENT

Concentrates on office space. There is a lot of new office space coming in Canada just as demand is starting to decline. Very solid management team. Still unsure if there will be a financing shortfall for them.

STRONG BUY

Developing and building Encana’s (ECA-T) Bow building in Calgary. Looking for a buyer for 50% of the building and he thinks they'll be able to do it. Good quality REIT. Long duration assets and long leases.

BUY

Largest landlord. Building the Bow in Calgary on a cost plus basis, so as construction costs go up, they get more. 9% yield.

BUY

Been under a bit of a cloud because of concerns on the development of the new Encana headquarters in Calgary. This has now been addressed. Also had an issue because of a US retailer going bankrupt, which they walked away from. Asset base is high quality. Growth rate in 3 years is going to be very good.

BUY

Prefers REITS to individual property stocks. Essentially office buildings. Good price.

BUY

Leading office landlord in Canada. 8% yield.

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