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HOM.

BSR Real Estate Investment Trust TSX:HOM.UN Stock Report

Last Price

CA$18.98

Market Cap

CA$1.1b

7D

0.4%

1Y

15.1%

Updated

01 Jul, 2022

Data

Company Financials +
HOM.UN fundamental analysis
Snowflake Score
Valuation5/6
Future Growth1/6
Past Performance4/6
Financial Health1/6
Dividends3/6

HOM.UN Stock Overview

BSR Real Estate Investment Trust is an internally managed, unincorporated, open-ended real estate investment trust established pursuant to a declaration of trust under the laws of the Province of Ontario.

BSR Real Estate Investment Trust Competitors

Price History & Performance

Summary of all time highs, changes and price drops for BSR Real Estate Investment Trust
Historical stock prices
Current Share PriceCA$18.98
52 Week HighCA$28.08
52 Week LowCA$16.20
Beta1.05
1 Month Change-14.00%
3 Month Change-25.71%
1 Year Change15.10%
3 Year Change40.80%
5 Year Changen/a
Change since IPO39.56%

Recent News & Updates

Shareholder Returns

HOM.UNCA REITsCA Market
7D0.4%-0.1%-0.8%
1Y15.1%-12.3%-5.0%

Return vs Industry: HOM.UN exceeded the Canadian REITs industry which returned -11.7% over the past year.

Return vs Market: HOM.UN exceeded the Canadian Market which returned -4.7% over the past year.

Price Volatility

Is HOM.UN's price volatile compared to industry and market?
HOM.UN volatility
HOM.UN Average Weekly Movement4.3%
REITs Industry Average Movement3.8%
Market Average Movement10.1%
10% most volatile stocks in CA Market17.4%
10% least volatile stocks in CA Market4.4%

Stable Share Price: HOM.UN is less volatile than 75% of Canadian stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: HOM.UN's weekly volatility (4%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
n/a250Dan Oberstehttps://www.bsrreit.com

BSR Real Estate Investment Trust is an internally managed, unincorporated, open-ended real estate investment trust established pursuant to a declaration of trust under the laws of the Province of Ontario. The REIT owns a portfolio of multifamily garden-style residential properties located in attractive primary and secondary markets in the Sunbelt region of the United States.

BSR Real Estate Investment Trust Fundamentals Summary

How do BSR Real Estate Investment Trust's earnings and revenue compare to its market cap?
HOM.UN fundamental statistics
Market CapUS$851.67m
Earnings (TTM)US$272.87m
Revenue (TTM)US$131.36m

2.0x

P/E Ratio

4.2x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
HOM.UN income statement (TTM)
RevenueUS$131.36m
Cost of RevenueUS$68.29m
Gross ProfitUS$63.07m
Other Expenses-US$209.80m
EarningsUS$272.87m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)7.31
Gross Margin48.01%
Net Profit Margin207.73%
Debt/Equity Ratio181.8%

How did HOM.UN perform over the long term?

See historical performance and comparison

Dividends

3.5%

Current Dividend Yield

43%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is HOM.UN undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for HOM.UN?

Other financial metrics that can be useful for relative valuation.

HOM.UN key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue13.8x
Enterprise Value/EBITDA37.1x
PEG Ratio-0.02x

Price to Earnings Ratio vs Peers

How does HOM.UN's PE Ratio compare to its peers?

HOM.UN PE Ratio vs Peers
The above table shows the PE ratio for HOM.UN vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average3.6x
MRG.UN Morguard North American Residential Real Estate Investment Trust
1.7xn/aCA$922.3m
MI.UN Minto Apartment Real Estate Investment Trust
3.9xn/aCA$920.0m
BEI.UN Boardwalk Real Estate Investment Trust
4xn/aCA$2.1b
IIP.UN InterRent Real Estate Investment Trust
4.7xn/aCA$1.7b
HOM.UN BSR Real Estate Investment Trust
2x-95.7%CA$1.1b

Price-To-Earnings vs Peers: HOM.UN is good value based on its Price-To-Earnings Ratio (2x) compared to the peer average (3.6x).


Price to Earnings Ratio vs Industry

How does HOM.UN's PE Ratio compare vs other companies in the CA REITs Industry?

Price-To-Earnings vs Industry: HOM.UN is good value based on its Price-To-Earnings Ratio (2x) compared to the Canadian REITs industry average (4.8x)


Price to Earnings Ratio vs Fair Ratio

What is HOM.UN's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

HOM.UN PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio2x
Fair PE Ratio3.2x

Price-To-Earnings vs Fair Ratio: HOM.UN is good value based on its Price-To-Earnings Ratio (2x) compared to the estimated Fair Price-To-Earnings Ratio (3.2x).


Share Price vs Fair Value

What is the Fair Price of HOM.UN when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: HOM.UN (CA$18.98) is trading below our estimate of fair value (CA$50.13)

Significantly Below Fair Value: HOM.UN is trading below fair value by more than 20%.


Price to Earnings Growth Ratio

PEG Ratio: HOM.UN's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


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Future Growth

How is BSR Real Estate Investment Trust forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

Future Growth Score

1/6

Future Growth Score 1/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


-95.7%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: HOM.UN's earnings are forecast to decline over the next 3 years (-95.7% per year).

Earnings vs Market: HOM.UN's earnings are forecast to decline over the next 3 years (-95.7% per year).

High Growth Earnings: HOM.UN's earnings are forecast to decline over the next 3 years.

Revenue vs Market: HOM.UN's revenue (10.6% per year) is forecast to grow faster than the Canadian market (6.5% per year).

High Growth Revenue: HOM.UN's revenue (10.6% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if HOM.UN's Return on Equity is forecast to be high in 3 years time


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Past Performance

How has BSR Real Estate Investment Trust performed over the past 5 years?

Past Performance Score

4/6

Past Performance Score 4/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


16.5%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: HOM.UN has a large one-off gain of $472.6M impacting its March 31 2022 financial results.

Growing Profit Margin: HOM.UN's current net profit margins are higher than last year (27.9%).


Past Earnings Growth Analysis

Earnings Trend: HOM.UN's earnings have grown by 16.5% per year over the past 5 years.

Accelerating Growth: HOM.UN's earnings growth over the past year (777.2%) exceeds its 5-year average (16.5% per year).

Earnings vs Industry: HOM.UN earnings growth over the past year (777.2%) exceeded the REITs industry 163.2%.


Return on Equity

High ROE: Whilst HOM.UN's Return on Equity (37.64%) is high, this metric is skewed due to their high level of debt.


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Financial Health

How is BSR Real Estate Investment Trust's financial position?

Financial Health Score

1/6

Financial Health Score 1/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: HOM.UN's short term assets ($20.0M) do not cover its short term liabilities ($27.3M).

Long Term Liabilities: HOM.UN's short term assets ($20.0M) do not cover its long term liabilities ($1.3B).


Debt to Equity History and Analysis

Debt Level: HOM.UN's net debt to equity ratio (180.5%) is considered high.

Reducing Debt: HOM.UN's debt to equity ratio has reduced from 188.5% to 181.8% over the past 5 years.

Debt Coverage: HOM.UN's debt is not well covered by operating cash flow (4.8%).

Interest Coverage: HOM.UN's interest payments on its debt are not well covered by EBIT (1.7x coverage).


Balance Sheet


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Dividend

What is BSR Real Estate Investment Trust current dividend yield, its reliability and sustainability?

Dividend Score

2/6

Dividend Score 2/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


3.54%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: HOM.UN's dividend (3.54%) is higher than the bottom 25% of dividend payers in the Canadian market (2.02%).

High Dividend: HOM.UN's dividend (3.54%) is low compared to the top 25% of dividend payers in the Canadian market (5.4%).


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, HOM.UN has been paying a dividend for less than 10 years.

Growing Dividend: HOM.UN's dividend payments have increased, but the company has only paid a dividend for 3 years.


Earnings Payout to Shareholders

Earnings Coverage: With its reasonably low payout ratio (43.1%), HOM.UN's dividend payments are well covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: With its reasonably low cash payout ratio (47.3%), HOM.UN's dividend payments are well covered by cash flows.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

4.2yrs

Average management tenure


CEO

Dan Oberste (40 yo)

4.17yrs

Tenure

US$1,099,381

Compensation

Mr. Daniel M. Oberste, also known as Dan, serves as President of BSR Real Estate Investment Trust since November 10, 2020 and Chief Investment Officer since April 08, 2018 and served as its Executive Vice...


CEO Compensation Analysis

Compensation vs Market: Dan's total compensation ($USD1.10M) is below average for companies of similar size in the Canadian market ($USD1.58M).

Compensation vs Earnings: Dan's compensation has increased by more than 20% in the past year.


Leadership Team

Experienced Management: HOM.UN's management team is considered experienced (4.2 years average tenure).


Board Members

Experienced Board: HOM.UN's board of directors are considered experienced (4.2 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: HOM.UN insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 11.5%.


Top Shareholders

Company Information

BSR Real Estate Investment Trust's employee growth, exchange listings and data sources


Key Information

  • Name: BSR Real Estate Investment Trust
  • Ticker: HOM.UN
  • Exchange: TSX
  • Founded: NaN
  • Industry: Residential REITs
  • Sector: Real Estate
  • Implied Market Cap: CA$1.100b
  • Market Cap: CA$708.396m
  • Shares outstanding: 57.95m
  • Website: https://www.bsrreit.com

Number of Employees


Location

  • BSR Real Estate Investment Trust
  • 333 Bay Street
  • Suite 3400
  • Toronto
  • Ontario
  • M5H 2S7
  • Canada

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/07/01 00:00
End of Day Share Price2022/06/30 00:00
Earnings2022/03/31
Annual Earnings2021/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.