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

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

11.20

+0.05 (0.45%)

as of Jul 3, 2026, 8:00:00 pm Market Open.

408 watching

Investor Insights

Jul 4, 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-T) is viewed as a classic value stock, especially after its recent strategic planning which did not lead to an expected sale, but rather focused on optimizing its portfolio. The trust aims to divest non-core assets and concentrate on multi-family properties in the United States and industrial real estate in Canada. This realignment comes at a time when the U.S. Sun Belt market is facing increased pressures from new supply, yet the company offers an attractive yield for investors willing to wait for potential value-maximizing transactions. Additionally, there are rumors of hostile takeover interest, particularly due to the REIT's diverse holdings that include less favored office properties; thus, existing shareholders are advised to hold and see if a better bid materializes in light of the interest from multiple parties. Overall, while there are challenges ahead, the plan appears solid and execution will be key.

Consensus

Hold

Valuation

Undervalued

Similar

AX.UN

DON'T BUY

This was a REIT that had many different assets. It has been busy dispossessing multi-residential in the US. They have reduced debt. This has caused them to under-perform in the short term. He still struggles to understand their strategy. He does not buy into their global diversification strategy -- you need a theme. He wants to be able to pick an investment that follows the next upcoming trend. So he avoids it.

BUY

It's been in a tight range and will continue to. It's now near the bottom of that range, so buy away. It's approaching the sweet spot.

DON'T BUY

A granddaddy among Canadian REITS. Solid managers, but have struggled because they are a diversified REIT. Their retail holdings of secondary malls have struggled. They own office buildings in Calgary, which is economically struggling. They also own retail in Toronto, plus a small holding number of attractive apartments in the US. They haven't yet fixed their problems. At least the dividend is safe.

BUY

It's underperformed other REITs, but pays over a 6% yield. They've been pulling out of US malls and getting into multi-residential communities. The lower stock price now is a good entry.

PAST TOP PICK

(A Top Pick Jan 03/19, Up 9%) It has underperformed since the prospect of interest rates has changed. It continues to trade as the only REIT at a discount to its NAV -- the cheapest REIT out there. Its largest single building is in Calgary, so if oil prices could rise they will rise faster than the rest.

PAST TOP PICK

(A Top Pick Sep 17/19, Down 9%) A diversified REIT for income investors. It's really cheap at less than 12x cash flow, paying almost a 7% dividend. Small earnings growth ahead.

BUY

She owns this and really likes the yield. They owned the Bow building in Calgary for Encana, so there may have been some speculation that Encana's move to the US would hurt them. However, she says they are under long term lease and the company has announced no personnel changes in Calgary. Yield 6%

DON'T BUY

Never been a fan. They're diversified, which is both good and bad. Hard to analyze them. A complicated story and they underperform. He wants to see a theme in a REIT and he doesn't see it here. He doesn't know what H&R does--they're all over the place.

DON'T BUY

It's range-bound and getting to the lower end, which may lead to an entry point. It's a low-risk investment. The CEO owns a lot of stock. The downside is protected, but don't expect much on the upside. He's concerned about their big mall portfolio, because malls aren't doing too well. Also, he's not impressed with the total return.

HOLD

A $6 billion asset holder -- the grand daddy in the Canadian REIT space. The dividend is probably safe. They have some weakness in the retail mall space they own in the US. It is a hold. Yield 6.4%

SELL

It keeps failing to break $24. It's rolling over and will fall to $20, perhaps lower. Anything retail is under big pressure now.

HOLD

They have an EnCana building. EnCana has moved away. The sectors they are in are difficult, but they are diversified. The distribution is very safe. He is not too concerned short term with EnCana moving. He would continue to hold it if he owned it.

DON'T BUY

Diverse. Higher yield than peers. Diversified portfolios aren't her favourite. Cautious on retail portfolio, as malls are struggling and hindering H&R's growth. Encana being a leaseholder in Calgary might concern investors. Distribution on hold for a while. Around 45% levered, so nothing of risk. Close to fairly valued, doesn't see growth potential.

PAST TOP PICK

(A Top Pick Jan 03/19, Up 14%) The only REIT that trades at a discount to NAV. The yield is 6%. It has another 10% in it plus the yield. They have Calgary office space exposure, but they still get paid by Encana.

TOP PICK

Pays a 6.12% yield, low risk, though offers limited growth of 1-2% FFO growth. They have streamlined with diversified properties in office, retail, industrial and residential. They're re-allocation capital in higher-growth markets.

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