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

Toronto - Toronto Real Time Price. Currency in CAD
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12.50+0.05 (+0.40%)
At close: 04:00PM EDT
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  • D
    Dachi
    Are they still buying back shares?
  • M
    Mark
    Great value in HR.un. expanding capnl rates may compress the NAV on this... But it's so undervalued that it's yielding 9%. Short term pressure on the stock looks like a buying opportunity.

    The luxury residential component of their income is somewhat concerning heading into a recession. Only bright side is Jackson park is fully leased and those open apartment don't seem to stay on their site more than a day before being snatched up.

    Looks like a good place to hide out a recession...
  • J
    Jeff
    High quality assets......the stock is on sale...might drop more but really with the money it generates its a take over target for a pension fund....Broadbased selling in ETF's have driven it down......Its a gem in a bunch of weeds...Retired CEO know this....love his work.
  • c
    cpennerism
    From The Globe and Mail, June 3rd from Scott Barlow:

    “BMO analyst Jenny Ma is adopting a more cautious outlook for the Canadian real estate sector,
    
“Canadian Real Estate: Shifting to a More Conservative Stance . Taking into account myriad new risks that have emerged, in our view investors should take a bottom-up approach to investing in Canadian REITs in the second half of 2022. Characteristics to look for are strong cash flow growth profiles (to outpace inflation in operating costs and higher interest expense), longer weighted average debt terms (to limit exposure to higher interest rates), and discount valuation in the form of lower multiples and deeper discounts to NAV (to limit downside). We are shifting our preferences to reflect a more conservative view. Our pecking order for asset classes are: diversified commercial (for value and downside protection), multifamily (for current valuation reflecting some degree of cap rate expansion and regulatory risks, and a strong long-term growth profile), and retail (for moderate but consistent growth). Our top picks for individual REITs are H&R REIT (HR.UN-TSX; $13.77; OP), InterRent REIT (IIP.UN-TSX; $13.83; OP), Minto Apartment REIT (MI.UN-TSX; $18.60; OP), Crombie REIT (CRR.UN-TSX; $17.26; OP), and RioCan REIT (REI.UN-TSX; $22.68; OP)… YTD, the Canadian REITs under coverage posted a simple average total return of -5.6% while the S&P/TSX Capped REIT Index is -9.2%.””
  • R
    RetiredCEO
    Congratulations HR peeps. We are outperforming the market and collecting distributions along the way.
  • j
    joe
    Stop holding us down enough!!! Pass $21 already
  • R
    RetiredCEO
    $12.99. Magnet at this number.
  • M
    M
    Any thoughts on how this will perform in the next 2-3 months. I was grateful to see the run past $14.00 and am thinking it will run again.
  • N
    Niko
    Very sad day for reit investors
  • D
    Daniel
    If we’re trading at 30% nav discount, and the asset prices crash 30% we would still be fairly valued, right? I think it’s reasonable to add under 13, but some caution is important here. I’m expecting that the worse can happen.
  • f
    fardin
    They have to increase their dividend or this stock is not going anywhere but down. Buyback is not enough
  • R
    RetiredCEO
    Still trading over 30% discount to NAV.
  • R
    RetiredCEO
    By end of day tomorrow, HR will have purchased for cancellation over 1M units since earnings release. Every day another 173,000 units are removed from weak hands. This provides tremendous support while we wait for the market to realize HRs true value. As less units are floating around for public trading, it only becomes easier for the unit price to go up. We will slowly chew through these sellers until there is very little selling pressure left.
  • c
    cpennerism
    This thing is way too overweight in my portfolio and I love it
  • c
    cpennerism
    From today's Globe and Mail, "Wednesday's analyst upgrades and downgrades" article by David Leeder:

    * Scotia Capital’s Mario Saric raised his H&R Real Estate Investment Trust (HR-UN-T unchno change
    ) target to $16.50 from $15.25, remaining below the $16.96 average, with a “sector perform” rating.

    “We took time to again consider an upgraded rating ... and there would be support for it,” he said. “That said, we ultimately felt the 8-per-cent out-performance since last Thursday (uo 11 per cent vs. 3 per cent for sector) is a good start to H&R ‘Growth’ REIT, our revised 27-per-cent NTM [next 12-month] total return matches sector avg., and we’re not quite ready to downgrade one of our Sector Outperforms. That said, H&R valuation still looks cheap vs. our Shadow REIT and importantly, we think the re-positioned portfolio (focus on residential/industrial) can structurally deliver 4 per cent-plus SSNOI growth through 2023, a big improvement from historical results and the ultimate driver of unit price growth. Bottom-line, H&R is one of our favoured ‘Sector-Perform’ REITs and announcements last week (aside from a near-term pause on broader market transactions) reinforces it is on the right path to better investor sentiment. We feel comfortable buying H&R here.”
  • j
    joe
    We passing $18-$20 easy!!! Way undervalued!!! Nowhere else to go but this and PMZ!! Other reits already recovered
  • c
    cpennerism
    To follow up on @RetiredCEO, this is from today's Globe & Mail:

    * RBC’s Jimmy Shan increased his H&R Real Estate Investment Trust (HR-UN-T +1.22%increase
    ) target to $16 from $14.25 with a “sector perform” rating. Other changes include: BMO’s Jenny Ma to $18 from $16 with an “outperform” rating and CIBC’s Sumayya Syed to $17.50 from $15.50 with an “outperformer” rating. The average is $16.54.

    “Q1/22 was jam-packed with many positive developments,” said Ms. Ma. “For investors who haven’t taken a closer look at HR.UN recently, this is likely not the REIT you think you know and should warrant your attention. As H&R progresses on its strategic repositioning plan, we believe the market should begin to recognize the deep-value embedded in the portfolio. The remarkable Q1/22 further confirms our strong conviction, and we reiterate that HR.UN is very undervalued.”
  • N
    Niko
    Im feeling bullish on HR, PMZ & D.
  • f
    fardin
    reits like H&R and Riocan reduced their divident for covid to half and they never increased it back to pre-covid.
    people buy reits for their divident. hard to justify buying them when bond yied is so close to what they pay.
  • B
    Brent
    I'm rotating out of Riocan into HR. Hope this is the right move.