H&R Real Estate Investment Trust Management

Management criteria checks 3/4

H&R Real Estate Investment Trust's CEO is Tom Hofstedter, appointed in Dec 1996, has a tenure of 27.92 years. total yearly compensation is CA$4.45M, comprised of 27% salary and 73% bonuses, including company stock and options. directly owns 1.43% of the company’s shares, worth CA$39.36M. The average tenure of the management team and the board of directors is 3.7 years and 3.4 years respectively.

Key information

Tom Hofstedter

Chief executive officer

CA$4.5m

Total compensation

CEO salary percentage	27.0%
CEO tenure	27.9yrs
CEO ownership	1.4%
Management average tenure	3.7yrs
Board average tenure	3.4yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Tom Hofstedter's remuneration changed compared to H&R Real Estate Investment Trust's earnings?
Date	Total Compensation	Salary	Company Earnings
Sep 30 2024	n/a	n/a	-CA$262m
Jun 30 2024	n/a	n/a	-CA$215m
Mar 31 2024	n/a	n/a	-CA$1m
Dec 31 2023	CA$4m	CA$1m	CA$62m
Sep 30 2023	n/a	n/a	-CA$43m
Jun 30 2023	n/a	n/a	-CA$202m
Mar 31 2023	n/a	n/a	-CA$30m
Dec 31 2022	CA$5m	CA$1m	CA$845m
Sep 30 2022	n/a	n/a	CA$1b
Jun 30 2022	n/a	n/a	CA$1b
Mar 31 2022	n/a	n/a	CA$1b
Dec 31 2021	CA$4m	CA$1m	CA$598m
Sep 30 2021	n/a	n/a	CA$501m
Jun 30 2021	n/a	n/a	CA$614m
Mar 31 2021	n/a	n/a	CA$555m
Dec 31 2020	CA$4m	CA$1m	-CA$625m
Sep 30 2020	n/a	n/a	-CA$573m
Jun 30 2020	n/a	n/a	-CA$751m
Mar 31 2020	n/a	n/a	-CA$678m
Dec 31 2019	CA$4m	CA$1m	CA$340m
Sep 30 2019	n/a	n/a	CA$238m
Jun 30 2019	n/a	n/a	CA$274m
Mar 31 2019	n/a	n/a	CA$273m
Dec 31 2018	CA$4m	CA$1m	CA$338m
Sep 30 2018	n/a	n/a	CA$602m
Jun 30 2018	n/a	n/a	CA$575m
Mar 31 2018	n/a	n/a	CA$620m
Dec 31 2017	CA$4m	CA$1m	CA$668m

Compensation vs Market: Tom's total compensation ($USD3.19M) is above average for companies of similar size in the Canadian market ($USD2.06M).

Compensation vs Earnings: Tom's compensation has been consistent with company performance over the past year.

CEO

Tom Hofstedter (70 yo)

27.9yrs

Tenure

CA$4,450,000

Compensation

Mr. Thomas J. Hofstedter, also known as Tom, is Trustee of Lantower Residential Real Estate Development Trust (No. 1) from February 12, 2024. Mr. Hofstedter served as the President of H&R Real Estate Inves...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Thomas Hofstedter	CEO & Executive Chairman	27.9yrs	CA$4.45m	1.43% CA$ 39.4m
Larry Froom	Chief Financial Officer	18.2yrs	CA$2.70m	0.056% CA$ 1.5m
Robyn Kestenberg	Executive Vice President of Office & Industrial	3.1yrs	CA$1.80m	0.046% CA$ 1.3m
Emily Watson	Chief Operating Officer of Lantower Residential	3.1yrs	CA$1.09m	0.00034% CA$ 9.4k
Matthew Kingston	Executive Vice President of Development & Construction	3.1yrs	CA$936.25k	no data
Blair Kundell	Executive Vice President of Operations	4.3yrs	no data	0.00088% CA$ 24.2k
Cheryl Fried	Executive Vice President of Finance	10.8yrs	CA$521.00k	no data
Brenda Huggins	Senior Vice President of Human Resources of Primaris	no data	no data	no data
Colleen Grahn	President of Property Management- Lantower Residential	3.1yrs	no data	no data
Audrey Craig	Executive Vice President of Accounting - Lantower Residential	no data	no data	no data
Hunter Webb	Executive Vice President of Development - Lantower Residential	no data	no data	no data
Tony Duplisse	Executive Vice President of Portfolio Management - Lantower Residential	no data	no data	no data

3.7yrs

Average Tenure

59yo

Average Age

Experienced Management: HR.UN's management team is considered experienced (3.7 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Thomas Hofstedter	CEO & Executive Chairman	28.8yrs	CA$4.45m	1.43% CA$ 39.4m
Sandor Hofstedter	Honorary Chairman	no data	no data	no data
Juli Morrow	Non-Independent Trustee	7.4yrs	CA$120.00k	0.012% CA$ 330.3k
Donald Clow	Independent Lead Trustee	1.7yrs	CA$227.25k	0.013% CA$ 345.5k
Marvin Rubner	Independent Trustee	4.4yrs	CA$167.50k	no data
Shimshon Gross	Independent Director	3.4yrs	CA$170.70k	0.0024% CA$ 66.1k
Leonard Abramsky	Independent Trustee	1.4yrs	CA$85.00k	0.0076% CA$ 210.2k
Brenna Haysom	Independent Trustee	4.4yrs	CA$180.50k	0.0084% CA$ 232.8k
Lindsay Brand	Independent Trustee	1.4yrs	CA$85.00k	0.00048% CA$ 13.2k
Jennifer Chasson	Independent Director	3.4yrs	CA$180.00k	0.00087% CA$ 24.0k
Mark Cowie	Independent Director	3.4yrs	CA$176.80k	0.034% CA$ 924.9k

3.4yrs

Average Tenure

62yo

Average Age

Experienced Board: HR.UN's board of directors are considered experienced (3.4 years average tenure).

H&R Real Estate Investment Trust Management

Management criteria checks 3/4

Key information

Recent management updates

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

H&R Real Estate Investment Trust Announces Management Changes

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

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

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

High number of new directors

Recent updates

Dividend of CA$0.05 announced

H&R Real Estate Investment Trust Declares Distribution for the Month of November 2024, Payable on December 16, 2024

Third quarter 2024 earnings released: CA$0.037 loss per share (vs CA$0.14 profit in 3Q 2023)

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

Consensus EPS estimates fall by 16%

High number of new directors

H&R Real Estate Investment Trust Provides Dividend Guidance for the Month of January 2023

H&R Real Estate Investment Trust to Report Q3, 2022 Results on Nov 14, 2022

Upcoming dividend of CA$0.046 per share

An Unknown Buyer acquired 2665-32nd St. N.E. Calgary, Alberta from H&R Real Estate Investment Trust (TSX:HR.UN).

An unknown buyer entered into a binding agreement to acquire Two automotive-tenanted retail properties in the United States from H&R Real Estate Investment Trust (TSX:HR.UN) for $17 million.