Professional
Added to YB: 2026-02-25
Pitch date: 2026-02-23
HR-UN.TO [neutral]
H&R Real Estate Investment Trust
-1.32%
current return
Author Info
Nugget Capital Partners is a research analyst specializing in resources w/ focus on energy. Sign up for the newsletter.
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 2.8B
Pitch Price
CAD 10.63
Price Target
16.00 (+51%)
Dividend
7.10%
EV/EBITDA
N/A
P/E
-3.50
EV/Sales
7.27
Sector
Diversified REITs
Category
special_situation
Sticking with what's hated: REITs - H&R Real Estate Investment Trust
HR-UN.TO (update): 84% US residential & industrial, trades at ~8% implied cap despite Class A assets. NAV ~$16. Exiting offices by year-end. $500M-$1B asset sales planned 2026 for deleveraging. Residential ~5% cap, industrial ~6%. Potential catalysts: go-private at NAV or spinout 'Lantower REIT' = 20-30% upside from re-rating vs peers. Activist interest ongoing.
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