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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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DON'T BUY
Diversified REIT that deals mostly with offices in Canada and US. Really rough go the last couple of quarters. One of their biggest risks is the new Encana building in Calgary. Have locked in rental agreements but not the refinancing side, so are dealing with funding issues. Would prefer RioCan (REI.UN-T) or others.
BUY
There will be some weakness in the first half of 2008 but looking out further, with all the liquidity that's being pumped into the market there will be a revival of inflation and higher interest rates. At that point, the asset base of this trust will be a good hedge against inflation. First-class management.
BUY
Office, industrial and retail, diversified across Canada. Strategy is long-term leases paired with long-term debt. Very good tenant base. Less economically sensitive because of long-term leases and blue-chip tenants. Trades at a sharp discount to NAV. Developing the head office for Encana (ECA-T) and have some equity risks in this. 6.6% yield is safe.
HOLD
A relatively high quality REIT. Feels the distribution is fine. Being hammered a little bit because of some US$ exposure. Also there is a lack of news on the construction of the Bow Valley Centre in Calgary.
PAST TOP PICK
(A Top Pick Nov 1/06. Down 5%.) Rents continue to go up and vacancies continue to do well. There is a larger debate as to where interest rates should be right now.
TOP PICK
Any time you can buy a $1 worth of assets for $.90 or less, it's a pretty good deal. Net asset value conservatively is around $25.
BUY
Has wonderful assets, long term leases. Very little growth. As secure as anyone.
TOP PICK
Good conservative pick. Don’t know what will happen in U.S. Yield is under 7% but steady and increasing.
PAST TOP PICK
(A top pick Nov 1/06, up 6.9%) Still happy with it. Core holding within real-estate. Net operating income growing well. Risks have been overblown. One of bluest chip names you can hold. Shareholders will be rewarded.
BUY
Very high quality assets. Long-term leases. Not a ton of upside, but no down side either. Relatively good long-term holding.
BUY
Pairs long-term leases on core real estate with long-term debt. Growth is less than other commercialized REITs because fewer of the leases come up for renewal. In the short term, they have a couple of mortgages coming off that are 8% to 9%, which will give them some accretion. They are building Encana’s (ECA-T) head office in Calgary. Selling well below NAV.
HOLD
Across the country. Mix of properties, but largely offices. They have long-term leases, so there won't be a lot of growth. 5.9% yield.
PAST TOP PICK
(A Top Pick May 5/06. Up 11.6%.) REITs in the last little while have corrected somewhat. Should not be impacted by the government trust announcement. This one should continue to do well.
COMMENT
Reits are very much on the radar screen. So far the impact from fears of raising interest rates is not good.
TOP PICK
Yield is about 6% Office and industry. Strategy is to buy core real-estate, to a good credit tenant. Then lease it up for the long term, and match long term debt. The riskiest of his top picks due to interest rate worries. But it's a great name and a discount to NAV. Core position for them.
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