Financials H&R Real Estate Investment Trust

Equities

HR.UN

CA4039254079

Diversified REITs

Market Closed - Toronto S.E. 04:00:00 2024-06-14 pm EDT 5-day change 1st Jan Change
9 CAD -0.77% Intraday chart for H&R Real Estate Investment Trust -1.64% -9.09%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Capitalization 1 6,049 3,812 4,687 3,220 2,592 2,358 -
Enterprise Value (EV) 1 6,049 3,812 4,687 7,283 6,393 6,798 6,743
P/E ratio 18.7 x -6.1 x 7.82 x 4.19 x 45.2 x 7.76 x 7.5 x
Yield 6.54% 6.92% 4.25% 4.46% 7.07% 6.61% 6.61%
Capitalization / Revenue 5.26 x 3.13 x 4 x 3.34 x 2.6 x 2.54 x 2.5 x
EV / Revenue 5.26 x 3.13 x 4 x 7.55 x 6.41 x 7.33 x 7.14 x
EV / EBITDA 8.85 x 5.87 x 7.4 x 12.1 x 10.2 x 11.7 x 11.5 x
EV / FCF 17.1 x 10.2 x 11.6 x - - -20.2 x -173 x
FCF Yield 5.85% 9.81% 8.64% - - -4.96% -0.58%
Price to Book - - - - - - -
Nbr of stocks (in thousands) 286,690 286,863 288,440 265,885 261,868 262,015 -
Reference price 2 21.10 13.29 16.25 12.11 9.900 9.000 9.000
Announcement Date 2/13/20 2/11/21 2/14/22 2/13/23 2/13/24 - -
1CAD in Million2CAD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Net sales 1 1,150 1,218 1,172 965 997.8 927.1 944.9
EBITDA 1 683.7 649.4 633.6 601.7 627 579.5 584.3
EBIT - - - - - - -
Operating Margin - - - - - - -
Earnings before Tax (EBT) - - - - - - -
Net income 1 340.3 -624.6 597.9 844.8 61.69 291.3 324
Net margin 29.6% -51.26% 51% 87.55% 6.18% 31.42% 34.29%
EPS 2 1.129 -2.178 2.078 2.893 0.2189 1.160 1.200
Free Cash Flow 1 353.8 373.9 405 - - -337 -39
FCF margin 30.78% 30.69% 34.55% - - -36.35% -4.13%
FCF Conversion (EBITDA) 51.75% 57.59% 63.92% - - - -
FCF Conversion (Net income) 103.97% - 67.74% - - - -
Dividend per Share 2 1.380 0.9200 0.6900 0.5400 0.7000 0.5950 0.5950
Announcement Date 2/13/20 2/11/21 2/14/22 2/13/23 2/13/24 - -
1CAD in Million2CAD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4
Net sales - - - - - - - - - - - -
EBITDA 1 165.1 85.17 139.6 151 164 113.1 146.2 167 110.7 152.8 151.6 151.5
EBIT - - - - - - - - - - - -
Operating Margin - - - - - - - - - - - -
Earnings before Tax (EBT) - - - - - - - - - - - -
Net income - - - - - - - - - - - -
Net margin - - - - - - - - - - - -
EPS - - - - - - - - - - - -
Dividend per Share - - 0.1350 - - - - - 0.1500 - - -
Announcement Date 2/14/22 5/12/22 8/11/22 11/14/22 2/13/23 5/12/23 8/10/23 2/13/24 5/14/24 - - -
1CAD in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Net Debt 1 - - - 4,063 3,801 4,440 4,385
Net Cash position 1 - - - - - - -
Leverage (Debt/EBITDA) - - - 6.753 x 6.061 x 7.661 x 7.506 x
Free Cash Flow 1 354 374 405 - - -337 -39
ROE (net income / shareholders' equity) - - - - - - -
ROA (Net income/ Total Assets) - - - - - - -
Assets 1 - - - - - - -
Book Value Per Share - - - - - - -
Cash Flow per Share - - - - - - -
Capex - - - - - - -
Capex / Sales - - - - - - -
Announcement Date 2/13/20 2/11/21 2/14/22 2/13/23 2/13/24 - -
1CAD in Million
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
B-
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
6
Last Close Price
9 CAD
Average target price
11.12 CAD
Spread / Average Target
+23.61%
Consensus

Annual profits - Rate of surprise

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