Stocks
ETFs
Options
Commodities
Crypto
Currency
Pro Newsletters
Research Tools
Daily Feeds
Calendars
Economic Indicators
Class Actions
Calculators
Education
About Us
Working with TipRanks
Follow Us
H&R Real Estate ate Staple (TSE:HR.UN)
TSX:HR.UN
RESEARCH TOOLSreports
Holding TSE:HR.UN?
Track your performance easily
Earnings Data
Report Date
Feb 12, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
―Last Year’s EPS
-C$0.04Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
---
Earnings Call Summary
Earnings Call Date:Nov 12, 2024
|% Change Since: -11.60%
|Next Earnings Date:Feb 12, 2025
Earnings Call Sentiment|Neutral
The earnings call reflects a mixed sentiment. On the positive side, H&R REIT is making strategic progress in repositioning its portfolio, particularly in residential and industrial segments. However, challenges remain in the office market and with declining FFO. The interest rate environment is also a concern, impacting sales visibility.Company Guidance
During the Q3 2024 earnings call for H&R Real Estate Investment Trust, the management provided detailed guidance on several financial and operational metrics. The headline Funds from Operations (FFO) per unit for Q3 2024 was reported at $0.294, a decrease from $0.42 in Q3 2023, primarily due to a $30.6 million gain on a disposal in the previous year. The REIT has sold $344.8 million worth of income-producing properties year-to-date and expects to close the year with approximately $440 million in sales. The office portfolio, comprising 19% of the total portfolio, reported a 96.8% occupancy rate and a weighted average cap rate of 8.86%. The residential segment, which now makes up 47% of the portfolio, saw U.S. residential rents increase to $26.97 per square foot. The industrial portfolio, representing 19% of total assets, reported an increase in average Canadian industrial rents to $9.42 per square foot. Overall, the company's debt to total assets ratio stood at 44.9%, with liquidity exceeding $900 million. Management remains committed to executing its strategic repositioning plan amidst a challenging market environment.Strategic Repositioning and Sales
H&R sold $344.8 million of income-producing properties in 2024 and expects to end the year with approximately $440 million in real estate sales. The focus is on strategic repositioning by selling office and retail properties.
Residential Portfolio Growth
The residential portfolio now comprises 47% of H&R's overall portfolio. U.S. residential rents increased from $21.16 per square foot in June 2021 to $26.97 per square foot in September 2024. Two new residential developments are underway, expected to be completed in 2026.
Industrial Portfolio Expansion
H&R's average Canadian industrial rents increased from $7.17 per square foot in June 2021 to $9.42 per square foot in September 2024. Industrial properties in the GTA increased from 35% to 50% of the industrial portfolio.
Strong Balance Sheet
Debt to total assets was 44.9% and debt-to-EBITDA was 9.1x. Liquidity exceeded $900 million with an unencumbered property pool of approximately $4.1 billion.
ESG Achievements
The project at 6900 Maritz in the GTA was shortlisted for the World Demolition Award for Recycling and Environmental. Lantower West Love received the National Green Buildings Silver certification.
---
TSE:HR.UN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
---
TSE:HR.UN Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 12, 2024 | C$10.52 | C$10.32 | -1.90% |
| Aug 14, 2024 | C$9.43 | C$9.44 | +0.11% |
| May 14, 2024 | C$8.86 | C$8.98 | +1.35% |
| Feb 13, 2024 | C$9.30 | C$9.09 | -2.26% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
---
FAQ
When does H&R Real Estate ate Staple (TSE:HR.UN) report earnings?
H&R Real Estate ate Staple (TSE:HR.UN) is schdueled to report earning on Feb 12, 2025, TBA Not Confirmed.
What is H&R Real Estate ate Staple (TSE:HR.UN) earnings time?
H&R Real Estate ate Staple (TSE:HR.UN) earnings time is at Feb 12, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is TSE:HR.UN EPS forecast?
Currently, no data Available
---