Added to YB: 2024-01-09
Pitch date: 2024-01-09
HRUFF [neutral]
H&R Real Estate Investment Trust
+16%
current return
Author Info
Company Info
H&R Real Estate Investment Trust is one of Canada's largest real estate investment trusts. H&R REIT has ownership interests in a Canadian and U.
Market Cap
CAD 2.8B
Pitch Price
CAD 8.56
Price Target
N/A
Dividend
7.10%
EV/EBITDA
N/A
P/E
-3.50
EV/Sales
7.27
Sector
Diversified REITs
Category
turnaround
Canadian Reit Opoortunity: H&R REIT ($HRUFF)
HRUFF: Shifting to 85% Residential, 15% Industrial. Hit 2023 disposition targets, pausing residential builds. 5.72% blended cap rate in-line with sales. 8.1% implied cap rate vs Office REITs at 24% FV. Discount to 6.3% US Residential cap rates. Resuming projects in 2025, 10% rent growth post flat 2024. Q1 insider sales by ex-Trustee.
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