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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
0
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
TOP PICK
Debentures. His biggest problem right now is what to buy for his older, risk adverse income-seeking clients. Interest rate is around 6.65%. Not much risk as they have a covenant that they cannot have more than 65% in debt. Real estate assets are 99% leased.
HOLD
Commercial diversified REIT of office, industrial, retail. Nationally diversified and also quite a bit of US assets. Building Encana’s (ECA-T) head office in Calgary. As the transaction goes on and on it seems like it’s less accretive where it’s probably dilutive at this point.
TOP PICK
A stock that has been neglected and overlooked. The Calgary project is underway now. There is a bit of an inflation risk in that the 20-year spread between mortgages and leases would look less attractive. Has a nice yield compared to 5-year bonds. 99% occupancy rate.
COMMENT
Quality in the base assets is quite high with long-term leases and long-term debt maturities. Bow development in Calgary has proven to be a challenge for them. Haven't secured their financing costs and haven't locked in 100% of their construction costs. Feels management will get through this.
COMMENT
Had a bit of a cloud over it. External management with a lot of fees. A lot of speculation on the Encana building that is being built in Calgary regarding troubles finding a partner and on financing. So the stock has been soft. High quality management. Have a portfolio of very safe long-term leases. Reasonable payout ratio.
COMMENT
Sold his holdings recently, but will probably repurchase. It is the pick of the crop in this sector. Good yield and probably rising cash flow. Expect their Calgary Encana property will probably be sold to a pension fund, et cetera. A Buy if you are going to hold it for 3 years and are prepared for any market risks.
BUY
Very high-quality REIT. Principally commercial office where they match long-term leases with creditworthy tenants to long term financing to harvest the spread.
PAST TOP PICK
(A Top Pick Feb 13/07. Down 6% including distributions.) Very smart managers of real estate. Real estate tends to be fully leased up with a very long average term leases. Do have exposure to the US real estate industry. Building a huge structure for Encana (ECA-T) in Calgary. Think the units have been oversold. Still a Buy.
PAST TOP PICK
(A Top Pick Jan 18/07. Up 13.5% not including yields.) Was oversold, so just bought more in the $19 range. The one concern is the construction of the building in Calgary for Encana (ECA-T).
BUY
The REIT space provides a great amount of opportunity. Quality large cap name. Great management team. The one issue is the Encana building in Calgary and if they will be able to finance it. 7% yield.
TOP PICK
Unfairly beaten up over the past several weeks. Trading at an implied yield of close to 8%. Concerns on the $1.1 billion Bow project in Calgary are unmerited.
BUY
Diversified REIT with office, industrial and retail properties across the country. Agreed to build Encana’s new Bow complex tower in Calgary but don't have all the contracts in place to build it. This might be having an effect on the share price. Very well run REIT with an institutional grade portfolio. Good price.
TOP PICK
This has always been the closest to a bond with their long-term contracts. Negative has been their external management and outside fees. The Encana building in Calgary has been stalled. Just announced they are going to sell 5 buildings in Ontario. Market is a little bit in doubt on them. Core of their portfolio is very stable. Have been very much oversold. Caveat emptor.
TOP PICK
Owns office, industrial and retail properties. They are properties that are generally done as sale and lease back so are core to the tenants. Long-term leases with long-term debt. Very little cash flow volatility. Trades at a 30% discount to NAV.
TOP PICK
Almost 8% yield. As 99% occupancy. Average life of its leases is 12 years. In the next 5 years, 8%-9% of their leases are coming up for renewal, which means it's enormously stable. 20% of their properties are in the US including a chain of department stores, which should not go bankrupt. Very stable operations.
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