Professional
Added to YB: 2026-08-12
Pitch date: 2026-08-10
HR-UN.TO [neutral]
H&R Real Estate Investment Trust
-1.83%
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 2.9B
Pitch Price
CAD 10.95
Price Target
15.96 (+48%)
Dividend
5.43%
EV/EBITDA
N/A
P/E
-3.75
EV/Sales
6.48
Sector
Diversified REITs
Category
special_situation
Updated thoughts on H&R REIT
HR-UN.TO (holding update): Canadian REIT into Aug 12 earnings. Blackstone back for asset talks; sold retail/office aggressively, now <11% office. Key catalysts: Gowanus NY (~$200M) & Caledon industrial land (~$300M+) sales, comps support value. $500M near-term sales, leverage -2.3x turns, land adds no FFO so bullish. Expect take-private, US resi spin, or buybacks/special distros. Trades mid-7 cap vs NAV $15.96. Target $13.50-15.00.
Read full article (6 min)