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

Outlook is fabulous in 2022, 2023 and beyond

[materialsgirl]

The 15 office buildings which will be sold will stay in our fold 
and generate good rental income until cash is needed for 
development. The apartment collection in the sun belt will 
grow quickly; 12 new buildings will commence soon.
Rents are rising in the USA.  The leaseup of the new complex 
in Miami (River Landing) implemented 6 rent increses during the 
process (about 40% in total is what I recall).  The Long Island 
property is now more or less fully leased but past incentives 
will cost about $6m in 2022 and less in 2023.
$20 a unit may be within a few years.
In Oakville, a large building has an end of lease recently.
The prior lease of about $5 or $6 is replaced with a new 
lease @ $14 a sq ft

Their NAV calculations are conservative.

For example, even the office buildings with long leases may sell 
for over the current IFRS NAV.

Don't go anywhere

mat

[CanSiamCyp]

Mat: Agree with all your points AND want to add a very important one - management intends to continue using surplus cash (due to having a conservative payout ratio) to buyback units via the NCIB. This is really smart to buyback units as long as they trade at a significant discount to NAV. FYI: the management of the spun-off Primaris REIT plans to do exactly the same thing - with management stating