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Bullboard - Stock Discussion Forum H&R Real Estate Investment Trust T.HR.UN

Alternate Symbol(s):  HRUFF

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... see more

TSX:HR.UN - Post Discussion

H&R Real Estate Investment Trust > For those who don't already know
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Post by northcoast on Jan 05, 2022 2:39pm

For those who don't already know

Why H&R REIT Stock Plunged 20% Today


The shares of H&R Real Estate Investment Trust (TSX:HR.UN) dived by more than 21% this morning to as low as $12.49 per share, despite the broader market optimism. With this, the stock hit its lowest level since February 2021, coming closer to its 52-week low of around $11.91 per share.

Today’s sharp selloff in H&R REIT stock came after the company announced the completion of its Primaris properties spinout. This news came slightly more than two months after H&R revealed its intentions to spin off its Primaris properties on October 27, 2021. After this spinoff, the company plans to reposition itself into a simplified, growth-oriented REIT. It intends to reinvest the funds from this spinoff to fund its other major multi-residential and industrial development projects.
     However, the news of Primaris spinoff completion seemingly didn’t please most investors, triggering a big selloff in HR.UN stock this morning.

Now what?

Apart from providing funds for its key development projects, the Primaris spinoff will also allow H&R to make some quality acquisitions in prime locations in Toronto, Montral, Vancouver, and high-growth U.S. sunbelt and gateway cities. These acquisitions could help the company boost its long-term growth prospects as a major growth-focused REIT. That’s why I expect its stock to see a gradual recovery in the near term after today’s big selloff.

In 2021, H&R REIT stock rose by 23% after witnessing 37% value erosion in the previous year. With this, the stock is still trading well below its 2019 closing level of $20.97 per share. While the COVID-19 woes badly affected its business in 2020, its 2021 earnings are expected to be higher than its pre-pandemic levels. That’s why long-term investors may want to take advantage of the recent drop in H&R stock to buy it cheap.

   
...From the Motley Fool, 
Jitendra Parashar
Comment by compsys68 on Jan 05, 2022 3:17pm
This is a completely incorrect assessment. H&R dropped approximately 18% because for every four shares of H&R that you own you have just been assigned one share of Primeris (sp)  if you take the closing price of H&R yesterday and compared to the closing price of H&R today plus the value of the Primeros shares divided by four I think you'll find that the share value has ...more  
Comment by deornoth667 on Jan 05, 2022 3:43pm
It's the motley fool, their articles are generally terrible.  I see them endorsing PMZ as a bearish omen.
Comment by northcoast on Jan 05, 2022 4:17pm
Thank you.
Comment by materialsgirl on Jan 05, 2022 6:16pm
Essentially it is breakeven mat
Comment by canadian on Jan 05, 2022 6:42pm
The biggest problem with reits is almost all of them don't buyback shares.
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