H&R REAL ESTATE INVESTMENT TRUST $17.88 (Toronto symbol HR.UN; SI Rating: Extra risk) holds interests in 34 office properties, 124 industrial properties and 129 retail properties comprising over 43 million square feet. Over half of H&R’s properties are in the Greater Toronto Area. The rest are elsewhere in Ontario, in Quebec, western Canada and the United States. The company now has an industry-leading portfolio occupancy rate of 99.2%. Revenue in the three months ended June 30, 2008 was $151.3 million, up 6.1% from $142.5 million a year earlier. Cash flow per unit was unchanged at $0.40. H&R’s annual distribution of $1.44 gives the units a yield of 8.1%. H&R REIT is a buy.
H&R Real Estate Investment Trust $17.88 – Toronto symbol HR.UN
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