H&R Real Estate Investment Trust (T:HR*CA)

Business Focus: Commercial REITs

Sector:  Financials Industry:  Commercial REITs
See Regulatory Filings on SEDAR
Company Contact
Address: 3625 Dufferin St Suite 500
Tel: 1-416-6357520
Website: www.hr-reit.com
IR: See website
Key People
Ronald C. Rutman
Independent Chairman of the Board of Trustee
Thomas J. Hofstedter
President, Chief Executive Officer, Trustee
Larry Froom
Chief Financial Officer
Nathan Uhr
Chief Operating Officer
Cheryl Fried
Executive Vice President - Finance
Robyn Kestenberg
Executive Vice President - Corporate Development
Philippe Lapointe
Chief Operating Officer - Lantower Residential
Patrick Sullivan
Chief Operating Officer of Primaris Management Inc.
Business Overview
H&R Real Estate Investment Trust is a Canada-based open-ended real estate investment trust. The Trust's primary objectives are to maximize the value of units through active management of its assets and to provide unitholders with stable and growing cash distributions generated by revenues derived from a diversified portfolio of investment properties. Its segments include Office, Retail, Industrial and Residential. The Trust owns, operates and develops commercial and residential properties across Canada and in the United States. Its subsidiaries include Bow Centre Street Limited Partnership, H&R Portfolio Limited Partnership, H&R REIT Management Services Limited Partnership, H&R REIT (U.S.) Holdings Inc., Primaris Management Inc. and PRR Trust.
Financial Overview
For the three months ended 31 March 2020, H&R Real Estate Investment Trust revenues decreased 6% to C$279.7M. Net loss increased from C$2M to C$1.02B. Revenues reflect Office segment decrease of 13% to C$134.7M, Canada segment decrease of 9% to C$205.5M. Higher net loss reflects Net Operating Income (NOI)-Office decrease of 16% to C$78.2M, Fair value adjustment on real estate ass increase from C$7.7M to C$1.3B (expense).
Employees: 777 as of Dec 31, 2019
Reporting Currency: Canadian Dollars
Enterprise value: $9,208M as of Mar 31, 2020
Annual revenue (TTM): $1,130M as of Mar 31, 2020
EBITDA (TTM): $704.84M as of Mar 31, 2020
Net annual income (TTM): -$677.54M as of Mar 31, 2020
Free cash flow (TTM): -$0.06M as of Mar 31, 2020
Net Debt Last Fiscal Year: $6,420M as of Mar 31, 2020
Shares outstanding: 286,847,214 as of Jul 6, 2020
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization