RBC Capital Reaffirms Their Hold Rating on H&R Real Estate Staple

By Ryan Adsit

The Financial sector company, H&R Real Estate Staple (TSX: HR.UN), has received a rating update from a Wall Street analyst yesterday. Analyst Matt Barasch from RBC Capital rated H&R Real Estate Staple (TSX: HR.UN) a Hold, setting a C$25 price target.

According to TipRanks.com, Barasch is a 3-star analyst with an average return of 8.4% and a 72.0% success rate. Barasch covers the Services sector, focusing on stocks such as Thomson Reuters Corp, Ritchie Bros, and Netflix.

Currently, the analyst consensus on H&R Real Estate Staple is Moderate Buy and the average price target is C$25.42, representing a 12.6% upside.

In a report issued on June 8, Scotiabank also maintained a Hold rating on the stock with a C$24.50 price target.

Based on H&R Real Estate Staple’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of C$294 million and quarterly net profit of C$111 million. In comparison, last year the company earned revenue of C$303 million and had a net profit of C$30.19 million.

H&R Real Estate Investment Trust engages in investment activities. It operates through the following segments: Office, Primaris, H&R Retail, ECHO, Industrial, and Residential. The Office segment refers to office space of available for leasing. The Primaris segment refers to redevelopment and remerchandising of malls and shopping centers. The H&R Retail segment refers to internalized real estate investment trust. The ECHO segment include acquisitions of grocery-anchored retail real estate in the United States. The Industrial segment is in alliance with Public Sector Pension Investment Board for the development of industrial sector. The Residential segment refers to rental apartments properties. The company was founded on November 4, 1996 and is headquartered in Toronto, Canada.

The company’s shares closed last Monday at $22.57.