H&R Real Estate Investment Trust (HR-UN) - Net Assets
Based on the latest financial reports, H&R Real Estate Investment Trust (HR-UN) has net assets worth CA$4.14 Billion CAD (≈ $2.99 Billion USD) as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (CA$9.11 Billion ≈ $6.59 Billion USD) and total liabilities (CA$4.97 Billion ≈ $3.60 Billion USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check financial resilience of H&R Real Estate Investment Trust to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | CA$4.14 Billion |
| % of Total Assets | 45.41% |
| Annual Growth Rate | 12.28% |
| 5-Year Change | -13.37% |
| 10-Year Change | -40.17% |
| Growth Volatility | 27.09 |
H&R Real Estate Investment Trust - Net Assets Trend (1996–2025)
This chart illustrates how H&R Real Estate Investment Trust's net assets have evolved over time, based on quarterly financial data. Also explore H&R Real Estate Investment Trust balance sheet assets for the complete picture of this company's asset base.
Annual Net Assets for H&R Real Estate Investment Trust (1996–2025)
The table below shows the annual net assets of H&R Real Estate Investment Trust from 1996 to 2025. For live valuation and market cap data, see H&R Real Estate Investment Trust (HR-UN) market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | CA$4.14 Billion ≈ $2.99 Billion |
-21.65% |
| 2024-12-31 | CA$5.28 Billion ≈ $3.82 Billion |
+1.66% |
| 2023-12-31 | CA$5.19 Billion ≈ $3.76 Billion |
-5.37% |
| 2022-12-31 | CA$5.49 Billion ≈ $3.97 Billion |
+14.95% |
| 2021-12-31 | CA$4.77 Billion ≈ $3.45 Billion |
-21.37% |
| 2020-12-31 | CA$6.07 Billion ≈ $4.39 Billion |
-13.81% |
| 2019-12-31 | CA$7.04 Billion ≈ $5.10 Billion |
-2.17% |
| 2018-12-31 | CA$7.20 Billion ≈ $5.21 Billion |
+0.28% |
| 2017-12-31 | CA$7.18 Billion ≈ $5.19 Billion |
+3.86% |
| 2016-12-31 | CA$6.91 Billion ≈ $5.00 Billion |
+1.29% |
| 2015-12-31 | CA$6.82 Billion ≈ $4.94 Billion |
+4.55% |
| 2014-12-31 | CA$6.53 Billion ≈ $4.72 Billion |
+4.05% |
| 2013-12-31 | CA$6.27 Billion ≈ $4.54 Billion |
+44.35% |
| 2012-12-31 | CA$4.35 Billion ≈ $3.14 Billion |
+96.52% |
| 2011-12-31 | CA$2.21 Billion ≈ $1.60 Billion |
+40.59% |
| 2010-12-31 | CA$1.57 Billion ≈ $1.14 Billion |
+7.25% |
| 2009-12-31 | CA$1.47 Billion ≈ $1.06 Billion |
-7.54% |
| 2008-12-31 | CA$1.59 Billion ≈ $1.15 Billion |
+1.70% |
| 2007-12-31 | CA$1.56 Billion ≈ $1.13 Billion |
+1.04% |
| 2006-12-31 | CA$1.54 Billion ≈ $1.12 Billion |
+13.27% |
| 2005-12-31 | CA$1.36 Billion ≈ $985.94 Million |
+24.29% |
| 2004-12-31 | CA$1.10 Billion ≈ $793.26 Million |
+13.27% |
| 2003-12-31 | CA$968.16 Million ≈ $700.36 Million |
+26.12% |
| 2002-12-31 | CA$767.65 Million ≈ $555.30 Million |
+1.71% |
| 2001-12-31 | CA$754.74 Million ≈ $545.97 Million |
+47.74% |
| 2000-12-31 | CA$510.85 Million ≈ $369.54 Million |
+9.48% |
| 1999-12-31 | CA$466.62 Million ≈ $337.55 Million |
+17.47% |
| 1998-12-31 | CA$397.22 Million ≈ $287.35 Million |
+55.91% |
| 1997-12-31 | CA$254.79 Million ≈ $184.31 Million |
+77.17% |
| 1996-12-31 | CA$143.81 Million ≈ $104.03 Million |
-- |
Equity Component Analysis
This analysis shows how different components contribute to H&R Real Estate Investment Trust's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 180809500000.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | CA$5.44 Billion | 131.62% |
| Other Comprehensive Income | CA$500.35 Million | 12.10% |
| Total Equity | CA$4.14 Billion | 100.00% |
H&R Real Estate Investment Trust Competitors by Market Cap
The table below lists competitors of H&R Real Estate Investment Trust ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
AMP Limited
F:AMP
|
$2.03 Billion |
|
Nava Bharat Ventures Limited
NSE:NAVA
|
$2.03 Billion |
|
BBMG Corp Class A
SHG:601992
|
$2.03 Billion |
|
EMTEK (Shenzhen) Co. Ltd.
SHE:300938
|
$2.03 Billion |
|
Ocular Therapeutix Inc
NASDAQ:OCUL
|
$2.02 Billion |
|
Alliance Financial Group Bhd
KLSE:2488
|
$2.02 Billion |
|
Jinfu Technology Co Ltd
SHE:003018
|
$2.02 Billion |
|
Goodyear Tire & Rubber Co
NASDAQ:GT
|
$2.02 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in H&R Real Estate Investment Trust's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 5,278,743,000 to 4,135,718,000, a change of -1,143,025,000 (-21.7%).
- Net loss of 791,564,000 reduced equity.
- Dividend payments of 188,954,000 reduced retained earnings.
- Other comprehensive income decreased equity by 219,573,000.
- Other factors increased equity by 57,066,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CA$-791.56 Million | -19.14% |
| Dividends Paid | CA$188.95 Million | -4.57% |
| Other Comprehensive Income | CA$-219.57 Million | -5.31% |
| Other Changes | CA$57.07 Million | +1.38% |
| Total Change | CA$- | -21.65% |
Book Value vs Market Value Analysis
This analysis compares H&R Real Estate Investment Trust's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.67x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has decreased from 1.15x to 0.67x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1996-12-31 | CA$9.23 | CA$10.58 | x |
| 1997-12-31 | CA$13.00 | CA$10.58 | x |
| 1998-12-31 | CA$12.71 | CA$10.58 | x |
| 1999-12-31 | CA$10.30 | CA$10.58 | x |
| 2000-12-31 | CA$10.98 | CA$10.58 | x |
| 2001-12-31 | CA$12.85 | CA$10.58 | x |
| 2002-12-31 | CA$10.87 | CA$10.58 | x |
| 2003-12-31 | CA$12.83 | CA$10.58 | x |
| 2004-12-31 | CA$11.01 | CA$10.58 | x |
| 2005-12-31 | CA$13.58 | CA$10.58 | x |
| 2006-12-31 | CA$12.91 | CA$10.58 | x |
| 2007-12-31 | CA$11.03 | CA$10.58 | x |
| 2008-12-31 | CA$10.64 | CA$10.58 | x |
| 2009-12-31 | CA$9.77 | CA$10.58 | x |
| 2010-12-31 | CA$10.36 | CA$10.58 | x |
| 2011-12-31 | CA$14.35 | CA$10.58 | x |
| 2012-12-31 | CA$23.70 | CA$10.58 | x |
| 2013-12-31 | CA$25.33 | CA$10.58 | x |
| 2014-12-31 | CA$23.98 | CA$10.58 | x |
| 2015-12-31 | CA$24.66 | CA$10.58 | x |
| 2016-12-31 | CA$24.49 | CA$10.58 | x |
| 2017-12-31 | CA$24.86 | CA$10.58 | x |
| 2018-12-31 | CA$25.08 | CA$10.58 | x |
| 2019-12-31 | CA$24.62 | CA$10.58 | x |
| 2020-12-31 | CA$21.17 | CA$10.58 | x |
| 2021-12-31 | CA$16.60 | CA$10.58 | x |
| 2022-12-31 | CA$20.12 | CA$10.58 | x |
| 2023-12-31 | CA$19.68 | CA$10.58 | x |
| 2024-12-31 | CA$20.15 | CA$10.58 | x |
| 2025-12-31 | CA$15.75 | CA$10.58 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently H&R Real Estate Investment Trust utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): -19.14%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -97.11%
- • Asset Turnover: 0.09x
- • Equity Multiplier: 2.20x
- Recent ROE (-19.14%) is below the historical average (5.29%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1996 | 0.22% | 22.35% | 0.00x | 2.37x | CA$-14.07 Million |
| 1997 | 6.46% | 26.54% | 0.14x | 1.79x | CA$-9.02 Million |
| 1998 | 8.57% | 33.54% | 0.13x | 1.91x | CA$-5.66 Million |
| 1999 | 10.34% | 35.46% | 0.14x | 2.02x | CA$1.60 Million |
| 2000 | 10.66% | 34.68% | 0.14x | 2.15x | CA$3.37 Million |
| 2001 | 9.10% | 32.23% | 0.14x | 2.03x | CA$-6.78 Million |
| 2002 | 10.95% | 28.34% | 0.14x | 2.67x | CA$7.26 Million |
| 2003 | 9.35% | 27.12% | 0.12x | 2.77x | CA$-6.26 Million |
| 2004 | 9.09% | 21.51% | 0.13x | 3.38x | CA$-8.93 Million |
| 2005 | 6.63% | 17.75% | 0.13x | 2.93x | CA$-44.13 Million |
| 2006 | 6.04% | 15.50% | 0.12x | 3.34x | CA$-56.66 Million |
| 2007 | -0.15% | -0.38% | 0.12x | 3.47x | CA$-147.86 Million |
| 2008 | 5.14% | 12.68% | 0.11x | 3.61x | CA$-73.45 Million |
| 2009 | 6.89% | 15.67% | 0.11x | 3.85x | CA$-43.30 Million |
| 2010 | 11.39% | 27.57% | 0.11x | 3.71x | CA$20.86 Million |
| 2011 | -1.84% | -6.17% | 0.09x | 3.46x | CA$-261.74 Million |
| 2012 | 11.48% | 59.72% | 0.08x | 2.34x | CA$64.18 Million |
| 2013 | 5.16% | 28.46% | 0.08x | 2.17x | CA$-303.75 Million |
| 2014 | 6.51% | 34.59% | 0.09x | 2.05x | CA$-228.11 Million |
| 2015 | 4.98% | 28.62% | 0.08x | 2.05x | CA$-342.34 Million |
| 2016 | 5.62% | 32.50% | 0.08x | 2.05x | CA$-302.52 Million |
| 2017 | 9.30% | 57.16% | 0.08x | 2.03x | CA$-50.11 Million |
| 2018 | 4.69% | 28.72% | 0.08x | 2.04x | CA$-382.09 Million |
| 2019 | 4.83% | 29.60% | 0.08x | 2.06x | CA$-364.10 Million |
| 2020 | -10.29% | -56.85% | 0.08x | 2.20x | CA$-1.23 Billion |
| 2021 | 12.52% | 56.12% | 0.10x | 2.20x | CA$120.52 Million |
| 2022 | 15.40% | 101.22% | 0.07x | 2.08x | CA$296.09 Million |
| 2023 | 1.19% | 6.83% | 0.08x | 2.08x | CA$-457.55 Million |
| 2024 | -2.27% | -14.65% | 0.08x | 2.01x | CA$-647.59 Million |
| 2025 | -19.14% | -97.11% | 0.09x | 2.20x | CA$-1.21 Billion |
Industry Comparison
This section compares H&R Real Estate Investment Trust's net assets metrics with peer companies in the REIT - Diversified industry.
Industry Context
- Industry: REIT - Diversified
- Average net assets among peers: $954,742,838
- Average return on equity (ROE) among peers: 9.55%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| H&R Real Estate Investment Trust (HR-UN) | CA$4.14 Billion | 0.22% | 1.20x | $2.02 Billion |
| Artis Real Estate Investment Trust (AX-UN) | $2.46 Billion | 15.85% | 0.86x | $851.22 Million |
| Crombie Real Estate Investment Trust (CRR-UN) | $782.00 Million | 5.08% | 1.73x | $1.35 Billion |
| Morguard Real Estate Investment Trust (MRT-UN) | $491.41 Million | 6.58% | 1.61x | $314.29 Million |
| Canadian Net Real Estate Investment Trust (NET-UN) | $90.21 Million | 10.67% | 1.32x | $98.34 Million |
About H&R Real Estate Investment Trust
H&R Real Estate Investment Trust is one of Canada's largest real estate investment trusts. H&R REIT has ownership interests in a Canadian and U.S. portfolio primarily comprised of high-quality residential (operating as Lantower Residential), industrial and office properties comprising approximately 21.3 million square feet.