HR-UN Stock Analysis: H&R Real Estate Investment | TO

Residential, Industrial, Office

Total Rating 22

Safety 55

Buy Signal -0.50

Diversified REITs
Sub-Industry Rotation: +6.7

Market Cap: 1.88B
Avg Turnover: 6.07M

Risk 3d forecast

Volatility21.2%

VaR 5^th Pctl3.26%

VaR vs Median-6.31%

Reward TTM

Sharpe Ratio-0.62

Rel. Str. IBD17.4

Rel. Str. Peer Group23.9 pctl

Character TTM

Beta0.471

Beta Downside0.615

Hurst Exponent0.376

Choppyness51.0%

Drawdowns 3y

Max DD23.47%

CAGR/Max DD0.26

CAGR/Mean DD0.61

EPS (Earnings per Share)

Revenue

Rev. CAGR: -3.12%
Rev. Trend: -90.6%

Qual. Beats: 0

Warnings

Interest Coverage Ratio Critical

Altman Z'' In Financial Distress Zone

Below Sma 200d

Tailwinds

No distinct edge detected

Seasonality 11.8 years of data, until 10/2026

Jan -0.5% 0

Feb +0.1% 0

Mar -0.5% 4

Apr -0.5% 0

May -1.1% 14

Jun +0.3% 14

Jul +2.1% 47

Aug +0.1% 0

Sep -3.7% 14

Oct +0.8% 4

Nov +0.1% 0

Dec -1.1% 9

How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, ≥40 worth a closer look and ≥60 is strong.

Description: HR-UN H&R Real Estate Investment

H&R Real Estate Investment Trust is a Canadian REIT incorporated in Ontario in 1996, with ownership interests in residential, industrial and office properties in Canada and the United States. Its portfolio comprises approximately 20.5 million square feet, with residential properties operating as Lantower Residential. Like other REITs, it generates income primarily by leasing properties to tenants.

Headlines to Watch Out For

Lantower apartment rent growth supports recurring net operating income
Office vacancies and lease expiries weigh on occupancy and valuations
Refinancing costs pressure cash flow and property valuations

Piotroski VR-10 (Strict) 1.0

Net Income: -570.9m TTM > 0 and > 6% of Revenue
FCF/TA: 0.02 > 0.02 and ΔFCF/TA 0.15 > 1.0
NWC/Revenue: -37.91% < 20% (prev -208.6%; Δ 170.7% < -1%)
CFO/TA 0.03 > 3% & CFO 206.9m > Net Income -570.9m
Net Debt/EBITDA: error (EBITDA <= 0)
Current Ratio: 0.75 > 1.5 & < 3
Outstanding Shares: last quarter (264.6m) vs 12m ago 0.77% < -2%
Gross Margin: 60.67% > 18% (prev 60.02%; Δ 0.64% > 0.5%)
Asset Turnover: 8.44% > 50% (prev 8.21%; Δ 0.22% > 0%)
Interest Coverage Ratio: -3.46 > 6 (EBIT TTM -565.3m / Interest Expense TTM 163.2m)

Altman Z'' -0.29

A: -0.04 (Total Current Assets 843.0m - Total Current Liabilities 1.13b) / Total Assets 8.12b
B: -0.23 (Retained Earnings -1.89b / Total Assets 8.12b)
C: -0.06 (EBIT TTM -565.3m / Avg Total Assets 9.00b)
D: 1.07 (Book Value of Equity 4.19b / Total Liabilities 3.93b)
Altman-Z'' = -0.29 = B

What is the price of HR-UN shares?

As of November 12, 2026, the stock is trading at CAD 9.50 with a total of 148,915 shares traded. Over the past week, the price has changed by -2.06%, over one month by -2.26%, over three months by -11.63% and over the past year by -11.39%.

Current recommended Stop Loss: 9.20 (which is 3.2% or 1.7 ATR below the current price).

Is HR-UN a buy, sell or hold?

H&R Real Estate Investment has no consensus analysts rating.

H&R Real Estate Investment (HR-UN) - Fundamental Data Overview as of 11 November 2026

Market Cap USD = 1.88b (2.68b CAD * 0.7017 CAD.USD)
P/E Forward = 9.8328
P/S = 3.2285
P/B = 0.6027
P/EG = 8.2749
Revenue TTM = 759.5m CAD
EBIT TTM = -565.3m CAD
EBITDA TTM = -565.3m CAD
Long Term Debt = 2.01b CAD (from longTermDebt, last quarter)
Short Term Debt = 368.9m CAD (from shortTermDebt, last quarter)
Debt = 2.51b CAD (from shortLongTermDebtTotal, last quarter)
Net Debt = 2.44b CAD (calculated: Debt 2.51b - CCE 70.4m)
Enterprise Value = 5.12b CAD (2.68b + Debt 2.51b - CCE 70.4m)
Interest Coverage Ratio = -3.46 (Ebit TTM -565.3m / Interest Expense TTM 163.2m)
EV/FCF = 29.69x (Enterprise Value 5.12b / FCF TTM 172.5m)
FCF Yield = 3.37% (FCF TTM 172.5m / Enterprise Value 5.12b)
FCF Margin = 22.71% (FCF TTM 172.5m / Revenue TTM 759.5m)
Net Margin = -75.17% (Net Income TTM -570.9m / Revenue TTM 759.5m)
Gross Margin = 60.67% ((Revenue TTM 759.5m - Cost of Revenue TTM 298.7m) / Revenue TTM)
Gross Margin QoQ = 65.01% (prev 43.01%)
Tobins Q-Ratio = 0.63 (Enterprise Value 5.12b / Total Assets 8.12b)
Interest Expense / Debt = 6.50% (Interest Expense 163.2m / Debt 2.51b)
Taxrate = 25.0% (non-US conservative default 25%)
NOPAT = -424.0m (EBIT -565.3m * (1 - 25.00%)) [loss with tax shield]
Current Ratio = 0.75 (Total Current Assets 843.0m / Total Current Liabilities 1.13b)
Debt / Equity = 0.60 (Debt 2.51b / totalStockholderEquity, last quarter 4.19b)
Debt / EBITDA = -4.31 (negative EBITDA) (Net Debt 2.44b / EBITDA -565.3m)
Debt / FCF = 14.14 (Net Debt 2.44b / FCF TTM 172.5m)
Total Stockholder Equity = 4.23b (last 4 quarters mean from totalStockholderEquity)
RoA = -6.34% (Net Income -570.9m / Total Assets 8.12b)
RoE = -13.51% (Net Income TTM -570.9m / Total Stockholder Equity 4.23b)
RoCE = -9.07% (EBIT -565.3m / Capital Employed (Equity 4.23b + L.T.Debt 2.01b))
RoIC = -5.79% (negative operating profit) (NOPAT -424.0m / Invested Capital 7.32b)
WACC = 6.09% (E(2.68b)/V(5.19b) * Re(7.23%) + D(2.51b)/V(5.19b) * Rd(6.50%) * (1-Tc(0.25)))
Discount Rate = 7.23% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 85.44 | Cagr: 0.46%
[DCF] Terminal Value 73.68% ; FCFF base≈181.6m ; Y1≈164.4m ; Y5≈141.7m
[DCF] Fair Price = N/A (negative equity: EV 2.26b - Net Debt 2.44b = -182.2m; debt exceeds intrinsic value)
Revenue Correlation: -90.63 | Revenue CAGR: -3.12% | SUE: N/A | # QB: 0
EPS current Year (2026-12-31): EPS=0.56 | Chg30d=-15.15% | Revisions=-25% | GrowthEPS=+119.8% | GrowthRev=-24.6%
EPS next Year (2027-12-31): EPS=0.98 | Chg30d=+4.26% | Revisions=+25% | GrowthEPS=+75.0% | GrowthRev=+1.9%