How does HR.UN's PS Ratio compare to its peers?

HR.UN is expensive based on its Price-To-Sales Ratio (2.6x) compared to the peer average (2.6x).

How does HR.UN's PS Ratio compare vs other companies in the North American REITs Industry?

HR.UN is good value based on its Price-To-Sales Ratio (2.6x) compared to the North American REITs industry average (3.3x).

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

HR.UN is good value based on its Price-To-Sales Ratio (2.6x) compared to the estimated Fair Price-To-Sales Ratio (5x).

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

HR.UN (CA$10.37) is trading below our estimate of [[fair value]] (CA$17.62)

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Target price is less than 20% higher than the current share price.

H&R Real Estate Investment Trust (TSX:HR.UN) - Stock Price, News & Analysis

HR.UN Stock Overview

H&R REIT is one of Canada's largest real estate investment trusts with total assets of approximately $10.8 billion as at December 31, 2023.

About the company

HR.UN fundamental analysis
Snowflake Score
Valuation	4/6
Future Growth	3/6
Past Performance	0/6
Financial Health	2/6
Dividends	4/6

Rewards

Trading at 41.1% below our estimate of its fair value

Earnings are forecast to grow 103.61% per year

Risk Analysis

Debt is not well covered by operating cash flow

Unstable dividend track record

H&R Real Estate Investment Trust Competitors

Pro Real Estate Investment Trust

TSX:PRV.UN

CA$352.3m

Artis Real Estate Investment Trust

TSX:AX.UN

CA$806.7m

BTB Real Estate Investment Trust

TSX:BTB.UN

CA$316.1m

Morguard Real Estate Investment Trust

TSX:MRT.UN

CA$346.5m

Price History & Performance

Summary of all time highs, changes and price drops for H&R Real Estate Investment Trust
Historical stock prices
Current Share Price	CA$10.37
52 Week High	CA$11.67
52 Week Low	CA$8.63
Beta	1.98
11 Month Change	-4.86%
3 Month Change	7.80%
1 Year Change	16.13%
33 Year Change	-37.61%
5 Year Change	-52.28%
Change since IPO	-6.58%

Recent updates

Shareholder Returns

	HR.UN	CA REITs	CA Market
7D	-2.5%	0.6%	1.7%
1Y	16.1%	22.2%	23.7%

Return vs Industry: HR.UN underperformed the Canadian REITs industry which returned 22.2% over the past year.

Return vs Market: HR.UN underperformed the Canadian Market which returned 23.7% over the past year.

Price Volatility

Is HR.UN's price volatile compared to industry and market?
HR.UN volatility
HR.UN Average Weekly Movement	2.5%
REITs Industry Average Movement	2.6%
Market Average Movement	8.2%
10% most volatile stocks in CA Market	17.9%
10% least volatile stocks in CA Market	2.9%

Stable Share Price: HR.UN has not had significant price volatility in the past 3 months compared to the Canadian market.

Volatility Over Time: HR.UN's weekly volatility (2%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1996	n/a	Tom Hofstedter	www.hr-reit.com

H&R REIT is one of Canada's largest real estate investment trusts with total assets of approximately $10.8 billion as at December 31, 2023. H&R REIT has ownership interests in a North American portfolio comprised of high-quality residential, industrial, office and retail properties comprising over 26.9 million square feet. H&R's strategy is to create a simplified, growth-oriented business focused on residential and industrial properties in order to create sustainable long term value for unitholders.

H&R Real Estate Investment Trust Fundamentals Summary

How do H&R Real Estate Investment Trust's earnings and revenue compare to its market cap?
HR.UN fundamental statistics
Market cap	CA$2.96b
Earnings (TTM)	-CA$214.59m
Revenue (TTM)	CA$1.03b

2.6x

P/S Ratio

-12.7x

P/E Ratio

Is HR.UN overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
HR.UN income statement (TTM)
Revenue	CA$1.03b
Cost of Revenue	CA$295.21m
Gross Profit	CA$734.84m
Other Expenses	CA$949.43m
Earnings	-CA$214.59m

Last Reported Earnings

Jun 30, 2024

Next Earnings Date

Nov 13, 2024

Earnings per share (EPS)	-0.82
Gross Margin	71.34%
Net Profit Margin	-20.83%
Debt/Equity Ratio	73.7%

How did HR.UN perform over the long term?

See historical performance and comparison

Dividends

6.8%

Current Dividend Yield

49%

Payout Ratio

Does HR.UN pay a reliable dividends?

See HR.UN dividend history and benchmarks

When do you need to buy HR.UN by to receive an upcoming dividend?
H&R Real Estate Investment Trust dividend dates
Ex Dividend Date	Oct 31 2024
Dividend Pay Date	Nov 15 2024
Days until Ex dividend	13 days
Days until Dividend pay date	2 days

Does HR.UN pay a reliable dividends?

See HR.UN dividend history and benchmarks

HR.UN Stock Overview

Rewards

Risk Analysis

H&R Real Estate Investment Trust Competitors

TSX:PRV.UN

CA$352.3m

TSX:AX.UN

CA$806.7m

TSX:BTB.UN

CA$316.1m

TSX:MRT.UN

CA$346.5m

Price History & Performance

Recent News & Updates

Dividend of CA$0.05 announced

H&R Real Estate Investment Trust to Report Q3, 2024 Results on Nov 12, 2024

Upcoming dividend of CA$0.05 per share

Dividend of CA$0.05 announced

Dividend of CA$0.05 announced

Second quarter 2024 earnings released: CA$1.04 loss per share (vs CA$0.22 loss in 2Q 2023)

Recent updates

Dividend of CA$0.05 announced

H&R Real Estate Investment Trust to Report Q3, 2024 Results on Nov 12, 2024

Upcoming dividend of CA$0.05 per share

Dividend of CA$0.05 announced

Dividend of CA$0.05 announced

Second quarter 2024 earnings released: CA$1.04 loss per share (vs CA$0.22 loss in 2Q 2023)

Dividend of CA$0.05 announced

H&R Real Estate Investment Trust to Report Q2, 2024 Results on Aug 14, 2024

Dividend of CA$0.05 announced

Dividend of CA$0.05 announced

First quarter 2024 earnings released

Upcoming dividend of CA$0.05 per share

George Brown College and Halmont Properties Corporation (TSXV:HMT) completed the acquisition of Corus Quay from H&R Real Estate Investment Trust (TSX:HR.UN).

Dividend of CA$0.05 announced

H&R Real Estate Investment Trust to Report Q1, 2024 Results on May 14, 2024

Upcoming dividend of CA$0.05 per share

Dividend of CA$0.05 announced

H&R Real Estate Investment Trust announced that it has received CAD 250 million in funding

H&R Real Estate Investment Trust announced that it expects to receive CAD 250 million in funding

Upcoming dividend of CA$0.05 per share

Dividend of CA$0.05 announced

H&R Real Estate Investment Trust Declares Dividend for the Months of February and March 2024, Payable on March 15, 2024 and April 15, 2024 Respectively

Full year 2023 earnings: Revenues exceed analyst expectations

Upcoming dividend of CA$0.05 per share at 7.0% yield

Dividend of CA$0.05 announced

H&R Real Estate Investment Trust to Report Q4, 2023 Results on Feb 13, 2024

Upcoming dividend of CA$0.15 per share at 6.2% yield

George Brown College and Halmont Properties Corporation (TSXV:HMT) entered into an agreement to acquire Corus Quay from H&R Real Estate Investment Trust (TSX:HR.UN) for approximately CAD 230 million.

Upcoming dividend of CA$0.05 per share at 7.2% yield

Price target decreased by 7.1% to CA$11.38

H&R Real Estate Investment Trust Announces Distribution for the Month of November 2023, Payable on December 15, 2023

Third quarter 2023 earnings released: EPS: CA$0.14 (vs CA$0.46 loss in 3Q 2022)

Upcoming dividend of CA$0.05 per share at 7.3% yield

H&R Real Estate Investment Trust to Report Q3, 2023 Results on Nov 14, 2023

Upcoming dividend of CA$0.05 per share at 6.5% yield

Upcoming dividend of CA$0.05 per share at 6.3% yield

H&R Real Estate Investment Trust Declares Distributions for the August and September 2023, Payable on September 15, 2023 and October 16, 2023 Respectively

Second quarter 2023 earnings released: CA$0.22 loss per share (vs CA$0.41 profit in 2Q 2022)

H&R Real Estate Investment Trust to Report Q2, 2023 Results on Aug 10, 2023

Upcoming dividend of CA$0.05 per share at 6.4% yield

Independent Lead Trustee recently bought CA$100k worth of stock

Upcoming dividend of CA$0.05 per share at 6.3% yield

Price target decreased by 7.9% to CA$14.58

An unknown buyer entered into an agreement to acquire four Canadian retail properties from H&R Real Estate Investment Trust (TSX:HR.UN) for CAD 68 million.

First quarter 2023 earnings released: EPS: CA$0.36 (vs CA$3.41 in 1Q 2022)

H&R Real Estate Investment Trust Announces Management Changes

Upcoming dividend of CA$0.05 per share at 4.9% yield

Independent Lead Trustee recently bought CA$299k worth of stock

CEO & Executive Chairman exercised options to buy CA$1.3m worth of stock.

Upcoming dividend of CA$0.05 per share at 4.5% yield

An unknown buyer entered into an agreement to acquire 160 Elgin Street office property in Ottawa, ON from H&R Real Estate Investment Trust (TSX:HR.UN) for CAD 277 million.

Full year 2022 earnings: Revenues exceed analyst expectations

H&R Real Estate Investment Trust (TSX:HR.UN) acquired 92,818 square foot office property in Dallas, TX for $49 million.

Upcoming dividend of CA$0.05 per share

H&R Real Estate Investment Trust to Report Q4, 2022 Results on Feb 13, 2023

Vice Chair & Independent Lead Trustee recently sold CA$216k worth of stock

Upcoming dividend of CA$0.096 per share

Now 21% undervalued

Upcoming dividend of CA$0.046 per share