H&R Real Estate Staple Receives a Hold from RBC Capital

By Carrie Williams

In a latest note to investors, a research analyst has provided a rating update for the Financial sector company, H&R Real Estate Staple (TSX: HR.UN). Analyst Neil Downey from RBC Capital remains neutral on the stock and has a C$25 price target.

According to TipRanks.com, Downey is a 5-star analyst with an average return of 8.6% and a 73.6% success rate. Downey covers the Financial sector, focusing on stocks such as Colliers International Group, Brookfield Property Partners, and FirstService Corporation.

Currently, the analyst consensus on H&R Real Estate Staple is Moderate Buy and the average price target is C$25.38, representing a 13.6% upside.

In a report issued on May 4, 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 December 31, the company posted quarterly revenue of C$306 million and quarterly net profit of C$141 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 Tuesday at $22.34.