Cash flow H&R Real Estate Investment Trust

Stocks

HR.UN

CA4039254079

Diversified REITs

Market Closed - Toronto S.E. Other stock markets 16:00:00 2026-07-29 EDT			5-day change	1st Jan Change
11.15 ^CAD	-0.36%		-0.45%	+8.99%

07-23	H&R Real Estate Investment Trust Announces Monthly Dividend, Payable on August 14, 2026	CI
06-21	H&R Real Estate Investment Trust announces Monthly dividend, payable on July 15, 2026	CI

97386c77e1b10b3c595461f3524.GtTJomdvJ9GNh_1I1uhrjs_prgTPLbGsxWVjnnCDyKA.Y7r_1jQ3bqX54ZIMvJEg3qXb9kuAesvAjAo7y13Il9NRsajQM1lfl_3Qig

Published financial data: H&R REAL ESTATE INVESTMENT TRUST

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Rental Revenues	1.07B	835M	847M	817M	815M
Other Revenues, Total	32.05M	51.78M	56.49M	59.37M	64.38M
Total Revenues	1.1B	886M	904M	876M	880M
Property Expenses	404M	300M	301M	297M	306M
Selling General & Admin Expenses, Total	27.94M	22.12M	24.38M	20.58M	19.38M
Total Operating Expenses	432M	322M	325M	318M	325M
Operating Income (REIT / Utility Template)	666M	565M	579M	559M	554M
Interest Expense, Total	-206M	-171M	-229M	-227M	-209M
Interest and Investment Income	17.23M	14.79M	13.85M	11.58M	14.5M
Net Interest Expenses	-189M	-156M	-215M	-216M	-194M
Currency Exchange Gains (Loss)	-	-	1.73M	-1.73M	4.26M
Other Non Operating Income (Expenses)	12.79M	-10.73M	70.29M	-26.46M	-31.37M
EBT, Excl. Unusual Items	490M	397M	436M	315M	333M
Gain (Loss) on Sale of Investments	93.6M	-4.64M	88.97M	-56.9M	-335M
Gain (Loss) on Sale of Assets	6.96M	7.33M	-7.25M	-11.15M	-2.25M
Asset Writedown	12.98M	546M	-486M	-426M	-969M
Legal Settlements	-	-	-	-	-
EBT, Incl. Unusual Items	603M	946M	31.15M	-179M	-974M
Income Tax Expense	5.54M	101M	-30.54M	-59.21M	-183M
Earnings From Continuing Operations	598M	845M	61.69M	-120M	-792M
Net Income to Company	598M	845M	61.69M	-120M	-792M
Net Income - (IS)	598M	845M	61.69M	-120M	-792M
Net Income to Common Incl Extra Items	598M	845M	61.69M	-120M	-792M
Net Income to Common Excl. Extra Items	598M	845M	61.69M	-120M	-792M
Per Share Items
Net EPS - Basic	2.08	3.1	0.23	-0.46	-3.01
Basic EPS - Continuing Operations	2.08	3.1	0.23	-0.46	-3.01
Basic Weighted Average Shares Outstanding	288M	273M	264M	262M	263M
Net EPS - Diluted	2.08	3.1	0.23	-0.46	-3.01
Diluted EPS - Continuing Operations	2.08	3.1	0.23	-0.46	-3.01
Diluted Weighted Average Shares Outstanding	288M	273M	264M	262M	263M
Normalized Basic EPS	1.06	0.91	1.03	0.75	0.79
Normalized Diluted EPS	1.06	0.91	1.03	0.75	0.79
Dividend Per Share	0.69	0.54	0.6	0.6	0.6
Payout Ratio	33.21	21.28	276.49	-153.16	-23.87
Supplemental Items
EBITA	666M	565M	579M	559M	554M
EBIT	666M	565M	579M	559M	554M
Effective Tax Rate - (Ratio)	0.92	10.72	-98.06	33.09	18.75
Current Foreign Taxes	1.08M	1.33M	1.8M	1.46M	1.65M
Total Current Taxes	1.08M	1.33M	1.8M	1.46M	1.65M
Deferred Foreign Taxes	4.46M	100M	-32.34M	-60.68M	-184M
Total Deferred Taxes	4.46M	100M	-32.34M	-60.68M	-184M
Normalized Net Income	306M	248M	272M	197M	208M
Interest Capitalized	3.4M	1.23M	7.97M	10.1M	3.09M
Interest on Long-Term Debt	195M	143M	137M	127M	119M
Supplemental Operating Expense Items
General and Administrative Expenses	27.94M	22.12M	24.38M	20.58M	19.38M
Stock-Based Comp., G&A Exp. (Total)	8.22M	6.76M	84K	3.91M	9.91M
Total Stock-Based Compensation	8.22M	6.76M	84K	3.91M	9.91M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Net Property Plant And Equipment	8.61B	8.83B	7.84B	8B	6.37B
Land Held For Development Or Sale	452M	850M	1.05B	1.01B	785M
Total Real Estate Assets	9.06B	9.68B	8.89B	9.01B	7.16B
Cash And Equivalents	124M	76.89M	64.11M	100M	52.14M
Accounts Receivable, Total	6.13M	5.32M	5.9M	5.68M	6.1M
Mortgage Loans	191M	169M	166M	126M	220M
Restricted Cash	9.54M	27.44M	96.62M	12.79M	9.99M
Other Current Assets, Total	60M	393M	365M	79M	1.17B
Trading Asset Securities, Total	-	-	28.19M	13.99M	10.05M
Other Long-Term Assets, Total	1.05B	1.06B	1.17B	1.28B	485M
Total Assets	10.5B	11.41B	10.78B	10.62B	9.11B
Liabilities
Current Portion of Long-Term Debt	105K	450M	554M	610M	371M
Current Portion of Leases	-	-	28.55M	-	-
Long-Term Debt	4.12B	3.69B	3.31B	3.1B	3.29B
Long-Term Leases	29.12M	30.41M	-	-	-
Accounts Payable, Total	205M	182M	206M	187M	153M
Accrued Expenses, Total	27.5M	25.43M	19.85M	19.22M	18.45M
Unearned Revenue, Current	31.45M	22.03M	21.49M	28.16M	24.61M
Other Current Liabilities - (Brok / FS / Ins. / REIT Template)	47.53M	33.52M	41.98M	60.63M	20.82M
Unearned Revenue Non Current	897M	986M	948M	906M	862M
Deferred Tax Liability Non-Current	351M	483M	437M	413M	213M
Other Non Current Liabilities	16.72M	22.61M	16.66M	18.46M	16.74M
Total Liabilities	5.73B	5.93B	5.59B	5.34B	4.97B
Common Stock, Total	5.42B	5.12B	5.08B	5.38B	5.44B
Retained Earnings	-780M	-94.81M	-217M	-819M	-1.81B
Comprehensive Income and Other	136M	458M	327M	720M	500M
Total Common Equity	4.77B	5.49B	5.19B	5.28B	4.14B
Total Equity	4.77B	5.49B	5.19B	5.28B	4.14B
Total Liabilities And Equity	10.5B	11.41B	10.78B	10.62B	9.11B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	288M	266M	262M	263M	265M
ECS Total Common Shares Outstanding	288M	266M	262M	262M	265M
Book Value / Share	16.55	20.64	19.83	20.15	15.63
Tangible Book Value	4.77B	5.49B	5.19B	5.28B	4.14B
Tangible Book Value Per Share	16.55	20.64	19.83	20.15	15.63
Total Debt	4.15B	4.17B	3.89B	3.71B	3.66B
Net Debt	4.03B	4.09B	3.8B	3.59B	3.6B
Equity Method Investments, Total	993M	1.06B	1.17B	1.28B	485M
Account Code - Inventory Valuation	3	3	3	3	3
Full Time Employees	-	-	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	2.88M	4.95M	-	-	2.22M

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	598M	845M	61.69M	-120M	-792M
Amortization of Deferred Charges, Total	4.56M	4.69M	4.51M	4.57M	4.51M
(Gain) Loss On Sale of Asset - (CF)	-6.96M	-7.33M	7.25M	11.15M	2.25M
Total Asset Writedown	-12.98M	-546M	486M	426M	969M
(Income) Loss On Equity Investments - (CF)	-126M	-47.14M	-145M	-2.48M	271M
Stock-Based Compensation (CF)	8.22M	6.76M	84K	3.91M	9.91M
Change in Accounts Receivable	-19.06M	-5.78M	-12.09M	-17.5M	-12.87M
Change in Accounts Payable	50.42M	-25.15M	10.95M	-394K	-45.71M
Change in Other Net Operating Assets (Collected)	-3.67M	6.03M	-11.03M	20.58M	-5M
Other Operating Activities	-40.68M	24.22M	-107M	-51.94M	-213M
Cash from Operations	452M	255M	295M	274M	188M
Acquisition of Real Estate Assets, Total	-522M	-283M	-234M	-333M	-97.94M
Sale of Real Estate Assets, Total	819M	388M	372M	353M	102M
Net Sale / Acquisition of Real Estate Assets	297M	104M	138M	20.37M	4M
Divestitures	-	49.28M	-	-	-
Investment in Marketable and Equity Securities, Total	65.13M	57.56M	7.41M	24.31M	19.36M
Net (Increase) Decrease in Loans Originated / Sold - Investing	232M	32.73M	36.86M	44.64M	-85.35M
Deferred Charges	904M	-	-	-	-
Other Investing Activities, Total	-1.8M	-17.91M	-69.18M	83.84M	2.8M
Cash from Investing	1.5B	226M	113M	173M	-59.18M
Long-Term Debt Issued, Total	658M	250M	313M	283M	539M
Total Debt Issued	658M	250M	313M	283M	539M
Long-Term Debt Repaid, Total	-2.3B	-301M	-520M	-510M	-528M
Total Debt Repaid	-2.3B	-301M	-520M	-510M	-528M
Issuance of Common Stock	-	-	-	-	-
Repurchase of Common Stock	-	-297M	-42.72M	-	-
Common Dividends Paid	-199M	-180M	-171M	-183M	-189M
Common & Preferred Stock Dividends Paid	-199M	-180M	-171M	-183M	-189M
Special Dividend Paid	-28.77M	-	-	-	-
Other Financing Activities, Total	-12.14M	-331K	-13K	-	-
Cash from Financing	-1.89B	-528M	-420M	-411M	-177M
Net Change in Cash	61.28M	-47.25M	-12.78M	36.24M	-48.22M
Supplemental Items
Cash Interest Paid	227M	171M	170M	153M	158M
Net Debt Issued / Repaid	-1.65B	-51.13M	-207M	-228M	11.49M
Levered Free Cash Flow	564M	-143M	170M	592M	-942M
Unlevered Free Cash Flow	692M	-36.03M	313M	734M	-811M
Change In Net Working Capital	-263M	400M	53.23M	-376M	1.17B

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	3.49	3.22	3.26	3.26	3.51
Return on Total Capital	3.85	3.8	3.86	3.86	4.13
Return On Equity %	11.03	16.47	1.16	-2.29	-16.82
Return on Common Equity	11.03	16.47	1.16	-2.29	-16.82
Margin Analysis
Gross Profit Margin %	63.2	66.19	66.74	66.1	65.2
SG&A Margin	2.55	2.5	2.7	2.35	2.2
EBITA Margin %	60.66	63.7	64.04	63.75	63
EBIT Margin %	60.66	63.7	64.04	63.75	63
Income From Continuing Operations Margin %	54.48	95.31	6.83	-13.66	-90
Net Income Margin %	54.48	95.31	6.83	-13.66	-90
Net Avail. For Common Margin %	54.48	95.31	6.83	-13.66	-90
Normalized Net Income Margin	27.9	28.03	30.12	22.47	23.65
Levered Free Cash Flow Margin	51.36	-16.14	18.8	67.51	-107.09
Unlevered Free Cash Flow Margin	63.08	-4.06	34.64	83.71	-92.26
Asset Turnover
Asset Turnover	0.09	0.08	0.08	0.08	0.09
Fixed Assets Turnover	0.11	0.1	0.11	0.11	0.12
Receivables Turnover (Average Receivables)	82.75	145.81	150.97	140.99	138.37
Short Term Liquidity
Current Ratio	0.64	0.71	0.64	0.23	2.12
Quick Ratio	0.42	0.12	0.11	0.13	0.12
Operating Cash Flow to Current Liabilities	1.45	0.36	0.34	0.3	0.32
Days Sales Outstanding (Average Receivables)	4.41	2.5	2.42	2.6	2.64
Average Days Payable Outstanding	185.44	241.57	235.23	241.77	202.42
Long Term Solvency
Total Debt/Equity	86.98	76.01	75.01	70.26	88.6
Total Debt / Total Capital	46.52	43.19	42.86	41.27	46.98
LT Debt/Equity	86.97	67.8	63.79	58.7	79.64
Long-Term Debt / Total Capital	46.52	38.52	36.45	34.48	42.22
Total Liabilities / Total Assets	54.54	51.92	51.82	50.3	54.59
EBIT / Interest Expense	3.23	3.3	2.53	2.46	2.66
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-3.63	-19.23	1.94	-3.02	0.36
Gross Profit, 1 Yr. Growth %	-1.45	-15.41	2.79	-3.95	-1.01
EBITA, 1 Yr. Growth %	-3.45	-15.18	2.5	-3.46	-0.83
EBIT, 1 Yr. Growth %	-3.45	-15.18	2.5	-3.46	-0.83
Earnings From Cont. Operations, 1 Yr. Growth %	-195.73	41.3	-92.7	-294.06	561.21
Net Income, 1 Yr. Growth %	-195.73	41.3	-92.7	-294.06	561.21
Diluted EPS Before Extra, 1 Yr. Growth %	-195.45	49.06	-92.45	-295.45	559.7
Normalized Net Income, 1 Yr. Growth %	-15.1	-18.86	9.57	-27.67	5.64
Net Property, Plant and Equip., 1 Yr. Growth %	-22.98	2.55	-11.21	2	-20.34
Accounts Receivable, 1 Yr. Growth %	-68.75	-13.25	11.04	-3.74	7.28
Total Assets, 1 Yr. Growth %	-21.37	8.68	-5.56	-1.46	-14.24
Common Equity, 1 Yr. Growth %	-21.37	14.94	-5.37	1.66	-21.65
Tangible Book Value, 1 Yr. Growth %	-21.37	14.94	-5.37	1.66	-21.65
Cash From Operations, 1 Yr. Growth %	5.9	-43.59	15.51	-6.98	-31.25
Levered Free Cash Flow, 1 Yr. Growth %	254.4	-125.32	-262.02	248.23	-257.55
Unlevered Free Cash Flow, 1 Yr. Growth %	114.24	-105.2	14.61K	134.32	-209.69
Dividend Per Share, 1 Yr. Growth %	-25	-21.8	11.11	0	0
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-4.14	-11.77	-9.26	-0.57	-1.34
Gross Profit, 2 Yr. CAGR %	-4.2	-8.7	-6.75	-0.64	-2.49
EBITA, 2 Yr. CAGR %	-4.4	-9.51	-6.76	-0.52	-2.15
EBIT, 2 Yr. CAGR %	-4.4	-9.51	-6.76	-0.52	-2.15
Earnings From Cont. Operations, 2 Yr. CAGR %	32.55	16.3	-67.88	-62.36	258.21
Net Income, 2 Yr. CAGR %	32.55	16.3	-67.88	-62.36	258.21
Diluted EPS Before Extra, 2 Yr. CAGR %	32.18	19.28	-66.46	-61.59	259.08
Normalized Net Income, 2 Yr. CAGR %	2.37	-17	-5.71	-10.98	-12.59
Net Property, Plant and Equip., 2 Yr. CAGR %	-15.37	-11.13	-4.58	-4.83	-9.86
Accounts Receivable, 2 Yr. CAGR %	-26.54	-47.93	-1.85	3.38	1.62
Total Assets, 2 Yr. CAGR %	-14.85	-7.56	1.31	-3.53	-8.07
Common Equity, 2 Yr. CAGR %	-17.68	-4.93	4.29	-1.92	-10.75
Tangible Book Value, 2 Yr. CAGR %	-17.68	-4.93	4.29	-1.92	-10.75
Cash From Operations, 2 Yr. CAGR %	3.99	-22.71	-19.27	3.66	-20.03
Levered Free Cash Flow, 2 Yr. CAGR %	29.87	-5.17	-45.16	137.53	135.45
Unlevered Free Cash Flow, 2 Yr. CAGR %	17.48	-66.61	-32.81	1.76K	60.99
Dividend Per Share, 2 Yr. CAGR %	-29.29	-23.42	-6.75	5.41	0
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-3.27	-9.46	-7.42	-7.22	-0.26
Gross Profit, 3 Yr. CAGR %	-3.42	-8.09	-5.02	-5.83	-0.76
EBITA, 3 Yr. CAGR %	-3.96	-8.14	-5.67	-5.67	-0.63
EBIT, 3 Yr. CAGR %	-3.96	-8.14	-5.67	-5.67	-0.63
Earnings From Cont. Operations, 3 Yr. CAGR %	20.95	35.41	-53.77	-41.5	-2.15
Net Income, 3 Yr. CAGR %	20.95	35.41	-53.77	-41.5	-2.15
Diluted EPS Before Extra, 3 Yr. CAGR %	20.87	37.59	-52.47	-39.64	-0.91
Normalized Net Income, 3 Yr. CAGR %	-1.41	-5.26	-8.95	-13.69	-5.75
Net Property, Plant and Equip., 3 Yr. CAGR %	-12.11	-9.77	-11.15	-2.43	-10.31
Accounts Receivable, 3 Yr. CAGR %	-20.93	-22.35	-32.98	-2.49	4.67
Total Assets, 3 Yr. CAGR %	-10.59	-7.64	-6.9	0.38	-7.24
Common Equity, 3 Yr. CAGR %	-12.8	-7.99	-5.08	3.41	-9
Tangible Book Value, 3 Yr. CAGR %	-12.8	-7.99	-5.08	3.41	-9
Cash From Operations, 3 Yr. CAGR %	-0.73	-15.19	-11.63	-15.37	-9.6
Levered Free Cash Flow, 3 Yr. CAGR %	37.37	-24.64	2.22	1.56	107.87
Unlevered Free Cash Flow, 3 Yr. CAGR %	21.43	-58.43	-1.05	1.89	625.14
Dividend Per Share, 3 Yr. CAGR %	-20.63	-26.88	-13.28	-4.55	3.57
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-2.61	-6.21	-5.71	-6	-5.04
Gross Profit, 5 Yr. CAGR %	-3	-5.88	-4.77	-5.18	-4.01
EBITA, 5 Yr. CAGR %	-3.06	-6.17	-5.09	-5.17	-4.28
EBIT, 5 Yr. CAGR %	-3.06	-6.17	-5.09	-5.17	-4.28
Earnings From Cont. Operations, 5 Yr. CAGR %	8.99	4.81	-28.83	-18.86	4.85
Net Income, 5 Yr. CAGR %	8.99	4.81	-28.83	-18.86	4.85
Diluted EPS Before Extra, 5 Yr. CAGR %	8.58	6.02	-27.62	-17.41	6.72
Normalized Net Income, 5 Yr. CAGR %	1.61	-5.28	-3.15	-7.59	-10.42
Net Property, Plant and Equip., 5 Yr. CAGR %	-7.28	-7.55	-9.17	-7.83	-10.64
Accounts Receivable, 5 Yr. CAGR %	-13.96	-19.51	-13.79	-12.93	-20.84
Total Assets, 5 Yr. CAGR %	-5.8	-4.75	-6.01	-6.02	-7.37
Common Equity, 5 Yr. CAGR %	-7.14	-5.23	-6.33	-5.61	-7.39
Tangible Book Value, 5 Yr. CAGR %	-7.14	-5.23	-6.33	-5.61	-7.39
Cash From Operations, 5 Yr. CAGR %	1.28	-11.85	-8.61	-8.1	-15.09
Levered Free Cash Flow, 5 Yr. CAGR %	22.62	-20.94	-4.82	12.1	42.72
Unlevered Free Cash Flow, 5 Yr. CAGR %	12.37	-43.5	-4.14	7.9	20.22
Dividend Per Share, 5 Yr. CAGR %	-12.56	-17.12	-15.34	-15.34	-8.19