H&R REIT announced that over 5 years it will transform from a diversified REIT into one focused on its thriving Lantower Residential business: Accelerated residential development will deliver meaningful NAV appreciationSpecialization will enhance investor appeal and eliminate the substantial discount at which units currently tradeSpinoff of H&R's malls into a new well-capitalized independent entity positions … Continue reading H&R REIT: Transform & Roll Out
H&R recognizes that its diversified business model is out of favor and that higher valuation can be delivered through "pure play" entitiesH&R disclosed intensification plans for several prime downtown Toronto sites and a huge site in VancouverVery low yields on H&R's unsecured debt suggest the AFFO yield of H&R units is far too high Canadian … Continue reading H&R REIT: Spin-Outs To Unlock Value
Unit price has fallen 51% since 2/28, much worse than peers Trading at a 60% discount to its IFRS Net Asset Value ($25.79) and 7.3 X 2020 AFFO (C$1.40) estimated prior to the impact of the coronavirus Diversified business model is unpopular with investors, but includes high quality assets that should sustain their value through … Continue reading H&R REIT: This Blue Chip Canadian REIT Has Never Been Cheaper
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