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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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16.34-0.04 (-0.24%)
At close: 4:00PM EDT
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  • T
    TWF inc
    FYI a safe 4% dividend with opportunities for significant increases in the next couple years is way better than a risky 7% dividend that never rises..
  • J
    Jatinder
    Seems like churning is taking place; large volume transactions
  • R
    Roger
    Let’s go private at 20.00 a share
  • T
    Todd
    Can someone explain the share allocation if there is a spinoff? Do we get shares in each individual reit depending on the valuation of each division? I have 1000 shares and I am wondering how it would break down. Thanks for any insight!
  • G
    Gus
    This special dividend does it come as a larger than normal monthly dividend for one month only or is it an extra dividend and if it is will it have an ex div date or just “ SURPRISE IT’S HERE”
  • S
    Sasha
    The unknowns regarding the spinoffs and it's affects on margin are probably keeping a lid on the SP. Hopefully HR provides clarity soon before the first spin off.
  • T
    TWF inc
    Somebody like Brookfield should just come in and buy this out and put it out of its misery... 6+ a share below nav, we are one of the most undervalued reits in all of North America.... Hopefully this spinout plan adds that $5 or $6 a share back into the overall value and we trade somewhere around NAV between all the divisions.
  • T
    Todd
    What does spinoff mean?
  • T
    Thelostclock
    Just my opinion. I was very skeptical that Bow sales would actually have significant impact on HR stock price. The only two factors that I really think has much impact on current HR price is 1. Increase in distribution (permenant) 2. Sentiment improvement in commercial real estate(due to covid).

    Distribution cut does significantly affect the stock price. Giving you a real life example of what has happened with 4 super major oil companies' stock price with varying level of dividend cut: exxon, total, bp, and royal dutch. There is an article on seeking alpha how dividend cut last year during pandemic correlates with the extent of stock price recovery. Exxon which has not cut its dividend during pandemic and in fact took more debt to pay dividend to its shareholders recovered stock price the fastest. Royal dutch on the other hand cut its dividend by 66% and its stock price lags the most even to this day. By the way Royal dutch has far higher free cash flow. Total which has cut dividend less than bp and rds recovered its stock price betterm This goes the same for Occidental petroleum and vermillion energy which cut its dividend to 0. Their stock price is below 40 to 60% before pandemic even though the oil price has recently gone up more than 30 to 50%. Yeah the money is not going anywhere. It is being used to pay down debt and it stays with the company. But these positive effects will come to fruition once the dividend comes back or more investments are made to improve that distribution.

    The reason why I said in the past that I am expecting 25 to 30% return by the end of NEXT year is because I believe those two factors would be largely resolved by that time. Canada will largely be immunized and receive booster shot if need be. And Canadians and Americans will likely be able to return to normal lives before the summer of next year. I hedged myself by purchasing Amazon, Etsy, and etc stocks during recent drop should covid persists and commercial real estate continues to lag although I still think the latter scenario highly unlikely.

    Distribution payout ratio is low for Hr. It should be able to increase its distribution permenantly in a meaningful way. Once it does that and after covid fear eventually subsides, I believe we can truly see those $21 to $22 stock price. They will go hand in hand. I do not expect the company to increase its distribution while covid fear and risk is evident.

    Overall with the Bow sales, I have mixed feeling about it. But I would still not call it a "bad" decision. It is between okay and good because I cautiously believe Canadian energy sector will grow stronger in future (severe shortage in future investment for shale oil companies and oil companies in developing countries leading to shortage in oil and gas). Capitalization rate of 8% for the sale I dont think is great by all means.. But at the same time calgary office market is in bad shape at least for now.

    What I wanted to say was that... This should be a really long term play unless you spend looking at stocks all day. And that is not necessarily a bad thing if that is what you do. 20 to 30% yield in even in one to two years is not that bad. It is actually supposed to be really good for retail investors. I think people expect too much in a very short time frame. I would just work hard and put as much money as possible before this thing hits 20 to 23. Dont get stressed out.
  • T
    TWF inc
    I would have liked to add more but I am all tapped out.. just enough margin for comfort, and I am happy with my holdings after some rebalancing of other stocks... When we get out of this delta BS reits will do great, especially office and retail reits, which is more than 50% of HR... HR is just under 40% office, and around 28% +/- in retail... residential and industrial together are around 30% together of HR. Next few months should be interesting... I would suggest the shares climb into the end of the year, and the special dividend should help this once the amount is made public... worst case scenario I now feel is Delta ravages the unvaccinated in the US, and to a lesser extent in Canada (we are more vaccinated than the US) .. in this scenario I see downside risk for HR around $14.50.. best case scenario is Delta doesnt take over going into the fall and winter, and although cases rise hospitalizations are a much lower % than a year ago, and most people are asymptomatic... I mean there are probably people out there than have covid who dont even know it because they are vaccinated and show no symptoms.. If this is the case and shopping, work etc get back to normal and covid stars to appear to be over in north america, we could see $18 to $19/share by year end plus the special dividend. (I have no idea how much it will be) Im hoping for $1 a share.
  • j
    joe
    5,200 shares and still adding at the dips!!
  • s
    stocktargetadvisor
    $HR-UN:CA (H&R Real Estate Investment Trust)
    Maintains CIBC World Markets Outperform CAD 19.5
  • T
    TWF inc
    reits getting hit due to increasing usa delta fears.... anything with office, and retail getting hit harder than residential and industrial.... hr has a lot of office and retail...
  • D
    DisGuy
    So realistically, are we better buying now or waiting for the spin-off? Will it depend on which properties they remove first?
  • B
    Bruno
    Looks like the street is not too excited about ER and future plans.
  • C
    C
    Calgary office and Ovintiv overexposure resolved. 200M of extra gain in special div. coming with 600M of debth reduction on top of closed out mortgages. Announcement that new assets are going to cover loss in FFO almost immediately at time of deal closure. Ready for next phase of value creation ... and the market lets me buy more at pre-announcement price!
  • S
    Schlauch
    H&R REIT Price Target Raised to C$18.00/Share From C$17.00 by Scotiabank
  • T
    TWF inc
    I am really not sure why the shares did not take a significant jump with the announcement of some major capital gains and a special dividend, and major reduction of Alberta office exposure..... if they pay 75 cents for example the stock will also drop by that amount on ex dividend day, It's not so noticeable every month when it's only Just under 6 cents..... but the special dividend will take a chunk out of the stock price... Hopefully we head upwards of 18 before they pay it out.... TD said the transaction improved their nav 45 cents, we are really not seeing any share price appreciation at all... Hopefully in the coming weeks this changes..
  • S
    Symbiote
    ouch. almost 5% down in the 1 month chart.
  • i
    iGameandInvest
    I doubt there will be any “super exciting” action until the spin offs. Following that.. maybe a few months if not right away there should be adjustments to payout ratios. Not much out there right now with a better risk/reward that I can find. 35% of my portfolio