H&R Real Estate Investment Trust

OTCPK:HRUF.F Stock Report

Market Cap: US$2.0b

H&R Real Estate Investment Trust Valuation

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

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

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

Below Fair Value: HRUF.F ($7.04) is trading below our estimate of fair value ($11.35)

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

Key Valuation Metric

Which metric is best to use when looking at relative valuation for HRUF.F?

Key metric: As HRUF.F is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for HRUF.F. This is calculated by dividing HRUF.F's market cap by their current revenue.
What is HRUF.F's PS Ratio?
PS Ratio2.9x
SalesCA$875.35m
Market CapCA$2.75b

Price to Sales Ratio vs Peers

How does HRUF.F's PS Ratio compare to its peers?

The above table shows the PS ratio for HRUF.F vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average3.1x
AAT American Assets Trust
3.8x2.5%US$2.2b
ESBA Empire State Realty OP
3.9xn/aUS$3.0b
ESRT Empire State Realty Trust
2.4x0.8%US$3.0b
GNL Global Net Lease
2.1x-1.7%US$1.7b
HRUF.F H&R Real Estate Investment Trust
2.9x4.1%US$2.7b

Price-To-Sales vs Peers: HRUF.F is good value based on its Price-To-Sales Ratio (2.9x) compared to the peer average (3.1x).

Price to Sales Ratio vs Industry

How does HRUF.F's PS Ratio compare vs other companies in the US REITs Industry?

4 CompaniesPrice / SalesEstimated GrowthMarket Cap
BSTT Blackstone Real Estate Income Trust
0.06xn/aUS$527.97m
SLVS Silver Star Properties REIT
0.3xn/aUS$23.25m
SQFT Presidio Property Trust
0.4xn/aUS$7.15m
PDNL.B Presidential Realty
0.001xn/aUS$15.14k
No more companies available in this PS range
HRUF.F 2.9xIndustry Avg. 3.3xNo. of Companies4PS02.44.87.29.612+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: HRUF.F is good value based on its Price-To-Sales Ratio (2.9x) compared to the US REITs industry average (3.3x).

Price to Sales Ratio vs Fair Ratio

What is HRUF.F'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.

HRUF.F PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio2.9x
Fair PS Ratio4x

Price-To-Sales vs Fair Ratio: HRUF.F is good value based on its Price-To-Sales Ratio (2.9x) compared to the estimated Fair Price-To-Sales Ratio (4x).

Analyst Price Targets

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

The above table shows the analyst HRUF.F forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$7.04
US$8.22
+16.8%
5.2%US$8.59US$7.24n/a7
Nov ’25US$7.51
US$8.39
+11.7%
3.3%US$8.75US$8.02n/a7
Oct ’25US$8.46
US$8.39
-0.9%
4.9%US$8.88US$7.77n/a6
Sep ’25US$7.76
US$8.20
+5.7%
4.2%US$8.81US$7.71n/a6
Aug ’25US$7.05
US$8.15
+15.6%
4.1%US$8.79US$7.69n/a6
Jul ’25US$6.35
US$8.15
+28.4%
4.1%US$8.79US$7.69n/a6
Jun ’25US$6.73
US$8.15
+21.2%
4.1%US$8.79US$7.69n/a6
May ’25US$6.51
US$8.19
+25.8%
4.0%US$8.87US$7.76n/a6
Apr ’25US$6.75
US$8.01
+18.6%
1.8%US$8.08US$7.71n/a5
Mar ’25US$6.61
US$8.14
+23.2%
2.9%US$8.51US$7.77n/a5
Feb ’25US$7.40
US$8.42
+13.8%
4.5%US$8.95US$7.83n/a6
Jan ’25US$7.39
US$8.40
+13.7%
5.8%US$9.00US$7.50n/a6
Dec ’24US$6.75
US$8.11
+20.1%
5.8%US$8.74US$7.29n/a6
Nov ’24US$6.25
US$8.92
+42.7%
11.3%US$9.83US$7.10US$7.516
Oct ’24US$6.97
US$9.53
+36.7%
6.0%US$9.96US$8.30US$8.466
Sep ’24US$7.68
US$9.53
+24.0%
6.0%US$9.96US$8.30US$7.766
Aug ’24US$7.81
US$10.27
+31.4%
7.8%US$10.80US$8.53US$7.056
Jul ’24US$7.71
US$10.23
+32.7%
6.6%US$11.03US$8.82US$6.356
Jun ’24US$7.50
US$10.23
+36.5%
6.6%US$11.03US$8.82US$6.736
May ’24US$8.70
US$11.70
+34.4%
3.0%US$12.37US$11.26US$6.516
Apr ’24US$8.92
US$11.65
+30.6%
3.3%US$12.38US$11.28US$6.756
Mar ’24US$9.66
US$11.62
+20.3%
3.3%US$12.36US$11.25US$6.616
Feb ’24US$9.74
US$11.48
+17.9%
3.5%US$12.14US$11.20US$7.406
Jan ’24US$8.90
US$11.14
+25.1%
4.2%US$11.90US$10.43US$7.397
Dec ’23US$9.10
US$11.31
+24.3%
4.5%US$12.08US$10.59US$6.757
Nov ’23US$8.28
US$11.49
+38.7%
7.7%US$12.40US$9.84US$6.257

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

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