H&R Real Estate Investment Trust T.HR.UN

Alternate Symbol(s): HRUFF

Real Estate REIT - Diversified

H&R Real Estate Investment Trust is a Canada-based real estate investment trust. The Company owns, operates and develops residential and commercial properties across Canada and in the United States. The Company operates through the four segments: Residential, Industrial, Office and Retail. The Residential segment consists of approximately 24 residential properties in select markets in the United States and portfolio comprised of 8,166 residential rental units. The Industrial segment consists of 69 industrial properties in Canada and three properties in the United States comprising 8.7 million square feet. The Office segment consists of 18 properties in Canada and five properties in select markets in the United States, aggregating 5.8 million square feet. The Retail segment consists of 38 properties in Canada, which are grocery-anchored and single-tenant properties, as well as five automotive-tenanted retail properties and one multi-tenant retail property in the United States.

TSX:HR.UN - Post by User

H&R Real Estate Investment Trust > TD Investment Conclusion this morning update.

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Post by silver-bullon Aug 14, 2020 9:34am

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Post# 31407651

TD Investment Conclusion this morning update.

We see a floor value in H&R's unit price at current levels, as investors are essentially getting all malls and Calgary/Houston office properties for free. Further, the units are trading at both the steepest NAV discount and lowest 2021E P/AFFO multiple of all diversified REITs despite H&R having the lowest leverage and payout ratio and, in our view, the highest quality assets. We continue to believe that a narrowing of the NAV discount can occur with various strategic options such as spinning-off one or more property segments.

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