Added to YB: 2026-10-15
Pitch date: 2026-10-13
HR-UN.TO [bullish]
H&R Real Estate Investment Trust
+0.72%
current return
Author Info
No bio for this author
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 2.5B
Pitch Price
CAD 9.70
Price Target
N/A
Dividend
6.27%
EV/EBITDA
N/A
P/E
-4.42
EV/Sales
6.18
Sector
Diversified REITs
Category
special_situation
H&R REIT Valuation Perspectives
HR-UN.TO (hold): H&R’s agreed and potential asset sales could simplify it into a Class A Sunbelt multifamily REIT and shrink the complexity discount. Pro forma 4Q26 Lantower NAV is estimated at C$15.89 and market value at C$11.23 versus a C$9.57 price; options span a C$11.50 cash bid, C$13.86 sale-plus-liquidation or C$15+ over time by waiting for a Sunbelt recovery, with confidence in future Lantower management and the board. Risks are weak multifamily valuations, a 1-10-year non-core wind-down and a potential C$102M termination fee.
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