My personal 5 year forecast e NAVNAV is the conservative dollar value of the breakup value if
all properties were liquidated and all debts paid off.
It applies very little value to development land and
hard to measure assets.
Three things are in play;
** there will be massive devlopments of Multi res and Industrial
properties
**unwanted offices and retail will mostly be sold at approx NAV
** there will be massive share buybacks each year so long as
there is a silly discount to NAV
The resulting NAV will be $30+++
Apartments and Industrial may trade at 100% to 112% of NAV.
Therefore I expect the share price to rise to $30 to $34 or more.
There are many unknowns for sure, including interest rates.
I am thinking about enjoying the monthly payout and then cashing
out in 2027 @ $31 or $32.
I wish that I had more.
I see HR being broken up into 2 funds in 2027;
*** Multi-res USA 80% of NAV
*** Industrial properties Canada. 20% of NAV
mat