Added to YB: 2024-07-22
Pitch date: 2024-07-19
HR-UN.TO [bullish]
H&R Real Estate Investment Trust
+27.08%
current return
Author Info
Company Info
H&R REIT is one of Canada's largest real estate investment trusts with total assets of approximately $9.
Market Cap
CAD 2.6B
Pitch Price
CAD 8.02
Price Target
18.50 (+84%)
Dividend
7.29%
EV/EBITDA
N/A
P/E
-6.31
EV/Sales
7.08
Sector
Diversified REITs
Category
turnaround
Canadian REIT Valuations And 2024 Opportunities - Diversified REITs: H&R REIT
HR-UN.TO: Executing 5yr plan to 80% US Residential, 20% CAN Industrial. Sold Corus Quay $233M, Kingsway $83M. ECHO JV likely sold in 12mo ($518M value). KKR's Quarterra buy at 5.3% cap rate benchmarks future value. Strong financials enable strategy despite market. 6% cap rate in 3yrs = $18.50/unit. Low valuation may attract private buyers for Lantower assets. Toronto dev sites add value.
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