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

HR lagging

[deornoth667]

Share price is lagging.  I thought the point of the PMZ spin out was to generate more shareholder interest by getting rid of "problematic" mall assets.    Has management commented on the lack of SP growth this quarter?

[SNAKEYBOY]

Agreed. Lots of other REITS have been on fire, like Riocan, Dream Office, Northwest.  HR is in the dawg house- boring 4% yield

[CatchTheDip]

Yes. Management stated many times in their letter to unitholders (see the 2021 annual report on their webpage) they are fully committed to buybacks. I expect the buybacks will be active until a 15% discount to NAV (15.05-15.25). NAV will keep rising with every unit bought back so that target will keep rising. PMZ around 15.50 (30% discount) is where it should be trading as a comparable discount to

[SNAKEYBOY]

ARTIS is very comparable to HR now.   We'll see which one wins in the end

[CatchTheDip]

Other than NAV (HR is a bit higher NAV), and insider ownership percentage (Artis is slightly higher), Artis VS HR are nothing alike. HR has higher quality properties, positioned for Residential and Industrial. 8 - 10 year WALT (one of the highest WALTs in their sectors) and institutional grade tenants. Strong focus on residential rentals and multi use developments. They also have one of the best

[babybunny]

They are alike in one other way:  both are screaming buys, heavlily owned by Baby Bunny

[materialsgirl]

Catchthe dip Your reasoning and logic are spot on. I expect that HR will trade at a 5% to 10% premium as soon as  it becomes primarily Industrial and Multi-res. That may happen in 2 to 4 years That would lead to a share price of $25 to $30  by then This one is a keeper mat

[materialsgirl]

Management should never comment on share price movement. They rarely do. Management should focus almost entirely on operating  anefficient great business. If the waste time trying to explain the share price today  versus 3 months ago I would advise unitholders to bail out. Management would have taken theit eye off the ball. There is often no explnation for the ups aand downs  of

[bttmfischer]

Matgirl, spoken like a member of board. Right on.