H&R Real Estate Inv Trust

HR.UN-T

TSE:HR.UN

21.85
0.09 (0.41%)
H&R Real Estate Investment Trust is a Canadian open-ended real estate investment trust, specializing in commercial real estate, and based in Toronto, Ontario. It is the third largest REIT in Canada by market capitalization.
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Analysis and Opinions about HR.UN-T

Signal
Opinion
Expert
HOLD
HOLD
September 21, 2018

They have a sizable discount to the NAV and a good yield. You would likely regret selling at this level – continue to hold. They have a quality portfolio and are getting out of the US retail space. Yield 6.9%.

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They have a sizable discount to the NAV and a good yield. You would likely regret selling at this level – continue to hold. They have a quality portfolio and are getting out of the US retail space. Yield 6.9%.

COMMENT
COMMENT
September 11, 2018

The company has been frustrating because it pays a good dividend but it has had a slow decline in stock price. Management at the right is similarly concerned about the stock price and is adjusting its portfolio--getting out of US retail and into US multifamily. In Canada it is a very high-quality commercial real estate operator with high-quality tenants. Their vacancy rates are very low, the dividend is seen as safe and the stock has been treated by investors as a bond substitute. She expects the portfolio adjustments to lead to an increase in the stock price. Yield 6.8%.

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The company has been frustrating because it pays a good dividend but it has had a slow decline in stock price. Management at the right is similarly concerned about the stock price and is adjusting its portfolio--getting out of US retail and into US multifamily. In Canada it is a very high-quality commercial real estate operator with high-quality tenants. Their vacancy rates are very low, the dividend is seen as safe and the stock has been treated by investors as a bond substitute. She expects the portfolio adjustments to lead to an increase in the stock price. Yield 6.8%.

DON'T BUY
DON'T BUY
July 31, 2018

Good for a long term hold? Dividend safe? Yield around 6%. Has always stayed away because lots of moving parts. Just wants them to do something he can understand. Nothing tells him he needs to own it.

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Good for a long term hold? Dividend safe? Yield around 6%. Has always stayed away because lots of moving parts. Just wants them to do something he can understand. Nothing tells him he needs to own it.

HOLD
HOLD
July 25, 2018

This REIT has been around a long time and holds a cluster of assets in Toronto, Vancouver and the US. Generally, it is well run and you could continue to hold it for the long term. He would prefer SRU.UN-T.

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This REIT has been around a long time and holds a cluster of assets in Toronto, Vancouver and the US. Generally, it is well run and you could continue to hold it for the long term. He would prefer SRU.UN-T.

COMMENT
COMMENT
July 23, 2018

It's been sliding since early 2017, and all REITs are getting hit with rising interest rates. In the summer, REITs hang on, because interest rates hold. Look for it to show strength above the current $20.

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It's been sliding since early 2017, and all REITs are getting hit with rising interest rates. In the summer, REITs hang on, because interest rates hold. Look for it to show strength above the current $20.

DON'T BUY
DON'T BUY
July 19, 2018

He sold it a few years ago. He thought it had run is coarse. He is not ready to jump back in.

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He sold it a few years ago. He thought it had run is coarse. He is not ready to jump back in.

BUY
BUY
June 26, 2018

H&R REIT vs. Artis REIT as a dividend play: H&R is the only REIT he owns, paying a 6.5% yield. It's diversified and the only REIT trading at a discount to its NAV. It's cheap. Artis has been flat. All REITs have pulled back due to interest rate rises, so this is not the space to be. H&R is cleaning up selling the U.S. It will outperform in the next 12 months. Not much growth here, but a good yield play.

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H&R REIT vs. Artis REIT as a dividend play: H&R is the only REIT he owns, paying a 6.5% yield. It's diversified and the only REIT trading at a discount to its NAV. It's cheap. Artis has been flat. All REITs have pulled back due to interest rate rises, so this is not the space to be. H&R is cleaning up selling the U.S. It will outperform in the next 12 months. Not much growth here, but a good yield play.

DON'T BUY
DON'T BUY
April 16, 2018

It has been a laggard for the best part of 5 years. There is nothing in the chart pattern at the moment. There is no evidence they are going to turn the ship around from the chart.

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It has been a laggard for the best part of 5 years. There is nothing in the chart pattern at the moment. There is no evidence they are going to turn the ship around from the chart.

COMMENT
COMMENT
February 23, 2018

These REITs valuations have come down as interest rates went up. The real catalyst for this name is completing Jackson Park in 2019 and Sears releasing their space. It does have a flat growth rate. It is trading at a 13% below its assumed Net Asset Value. The balance sheet is not bad. Unsexy name. A yield proxy. Good management team. (Analysts’ price target is $24)

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These REITs valuations have come down as interest rates went up. The real catalyst for this name is completing Jackson Park in 2019 and Sears releasing their space. It does have a flat growth rate. It is trading at a 13% below its assumed Net Asset Value. The balance sheet is not bad. Unsexy name. A yield proxy. Good management team. (Analysts’ price target is $24)

PARTIAL SELL
PARTIAL SELL
January 29, 2018

HR.UN-T vs. CHR.UN-T. Hang onto CSH.UN-T. They are both AMZN-Q proof. Tenants pay rent so they are not long term leases like elsewhere in the REIT space. He would lighten up on HR.UN-T

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HR.UN-T vs. CHR.UN-T. Hang onto CSH.UN-T. They are both AMZN-Q proof. Tenants pay rent so they are not long term leases like elsewhere in the REIT space. He would lighten up on HR.UN-T

COMMENT
COMMENT
December 4, 2017

He wouldn’t want to be heavily loaded with REITs. He only has one left, and it is commercial with all commercial properties. Be a little cautious over the next year. If it got below $20.21, that indicates there’s something else going on out there and the market doesn’t want to be in real estate anymore.

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He wouldn’t want to be heavily loaded with REITs. He only has one left, and it is commercial with all commercial properties. Be a little cautious over the next year. If it got below $20.21, that indicates there’s something else going on out there and the market doesn’t want to be in real estate anymore.

COMMENT
COMMENT
November 29, 2017

Announced they were going to make close to $1 billion in sales out of the US, and reinvest in multi-resident businesses. This is a strategy that is getting a little tired. His biggest issue is that they are so diversified, such as office, residential, redevelopment, Canada, US, it is too much for an analyst. Thinks they’ve been hurt by this.

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Announced they were going to make close to $1 billion in sales out of the US, and reinvest in multi-resident businesses. This is a strategy that is getting a little tired. His biggest issue is that they are so diversified, such as office, residential, redevelopment, Canada, US, it is too much for an analyst. Thinks they’ve been hurt by this.

COMMENT
COMMENT
November 29, 2017

He likes this company. Very well diversified with a very attractive dividend yield. In recent years they’ve increased their US exposure. It is so well diversified that you can bank on pretty moderate but stable cash flow and cash flow growth for the foreseeable future.

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He likes this company. Very well diversified with a very attractive dividend yield. In recent years they’ve increased their US exposure. It is so well diversified that you can bank on pretty moderate but stable cash flow and cash flow growth for the foreseeable future.

COMMENT
COMMENT
November 23, 2017

You buy this for yield. Because interest rates are low and lots of investors are reaching for yield, most of these stocks are overbought. Incremental demand might not be there, which may be the reason it is just going sideways. There may be a slight chance of it going lower. Be absolutely disciplined and make sure of the level you want to get out. Don’t be fooled by the yield, because as the price goes lower, the yield goes up. Dividend yield of 6.4%.

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You buy this for yield. Because interest rates are low and lots of investors are reaching for yield, most of these stocks are overbought. Incremental demand might not be there, which may be the reason it is just going sideways. There may be a slight chance of it going lower. Be absolutely disciplined and make sure of the level you want to get out. Don’t be fooled by the yield, because as the price goes lower, the yield goes up. Dividend yield of 6.4%.

COMMENT
COMMENT
November 14, 2017

Largely a commercial and industrial manager of real estate assets, and for years and years a wonderful simple strategy. They would build a commercial building, mortgage it, lease it for 20 years and lock in a spread. It was predictable and it was great. They then branched out, and in 2008 had a near-death experience when they built the Bow office tower in Calgary. They almost ran out of money because they hadn’t locked up their financing. This is a low growth company. Distribution is growing, very slowly. It’s the kind of company that will suffer if interest rates grow. The 6% distribution is not a dividend and is taxed as other income, but is absolutely safe. This is only a yield play.

Show full opinionHide full opinion

Largely a commercial and industrial manager of real estate assets, and for years and years a wonderful simple strategy. They would build a commercial building, mortgage it, lease it for 20 years and lock in a spread. It was predictable and it was great. They then branched out, and in 2008 had a near-death experience when they built the Bow office tower in Calgary. They almost ran out of money because they hadn’t locked up their financing. This is a low growth company. Distribution is growing, very slowly. It’s the kind of company that will suffer if interest rates grow. The 6% distribution is not a dividend and is taxed as other income, but is absolutely safe. This is only a yield play.

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