Added to YB: 2024-07-22
Pitch date: 2024-07-19
HR-UN.TO [bullish]
H&R Real Estate Investment Trust
+34.24%
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 2.9B
Pitch Price
CAD 8.30
Price Target
18.50 (+66%)
Dividend
5.40%
EV/EBITDA
N/A
P/E
-3.77
EV/Sales
6.50
Sector
Diversified REITs
Category
turnaround
Canadian REIT Valuations And 2024 Opportunities - Diversified REITs: H&R REIT
HR-UN.TO: Executing 5yr plan to 80% US Residential, 20% CAN Industrial. Sold Corus Quay $233M, Kingsway $83M. ECHO JV likely sold in 12mo ($518M value). KKR's Quarterra buy at 5.3% cap rate benchmarks future value. Strong financials enable strategy despite market. 6% cap rate in 3yrs = $18.50/unit. Low valuation may attract private buyers for Lantower assets. Toronto dev sites add value.
Read full article (1 min)