H&R announces March distribution
March 04 2012 - 8:08AM
PR Newswire (Canada)
TORONTO, March 7, 2012 /CNW/ - H&R Real Estate Investment Trust
and H&R Finance Trust ("H&R") today announced that the
Trustees have declared a distribution of March 2012 of $0.09167 per
stapled unit, representing $1.10 per stapled unit on an annualized
basis. Payment will be made on March 30, 2012 to unitholders
of record March 16, 2012. About H&R REIT and H&R Finance
Trust H&R REIT is an open-ended real estate investment trust,
which owns a North American portfolio of 39 office, 117 industrial
and 133 retail properties comprising over 43 million square feet,
with a net book value of approximately $5.8 billion. The foundation
of H&R REIT's success since inception in 1996 has been a
disciplined strategy that leads to consistent and profitable
growth. H&R REIT leases its properties long term to
creditworthy tenants and strives to match those leases with
primarily long-term, fixed-rate financing. H&R Finance Trust is
an unincorporated investment trust, which primarily invests in
notes issued by a U.S. corporation which is a subsidiary of H&R
REIT. The current note receivable is U.S. $142.8
million. In 2008, H&R REIT completed an internal
reorganization which resulted in each issued and outstanding
H&R REIT unit trading together with a unit of H&R Finance
Trust as a "Stapled Unit" on the Toronto Stock Exchange.
Forward-looking Statements Certain statements in this news release
contains forward-looking information within the meaning of
applicable securities laws (also known as forward-looking
statements). Such forward-looking statements reflect
H&R's current beliefs and are based on information currently
available to management. These statements are not guarantees of
future performance and are based on H&R's estimates and
assumptions that are subject to risks and uncertainties, including
those discussed in H&R's materials filed with the Canadian
securities regulatory authorities from time to time, which could
cause the actual results and performance of H&R to differ
materially from the forward-looking statements contained in this
news release. Those risks and uncertainties include, among other
things, risks related to: prices and market value of securities of
H&R; availability of cash for distributions; development and
financing relating to the Bow development; restrictions pursuant to
the terms of indebtedness; liquidity; credit risk and tenant
concentration; interest rate and other debt related risk; tax risk;
ability to access capital markets; dilution; lease rollover risk;
construction risks; currency risk; unitholder liability;
co-ownership interest in properties; competition for real property
investments; environmental matters; reliance on one corporation for
management of substantially all of the REIT's properties and
changes in legislation and indebtedness of H&R. Material
factors or assumptions that were applied in drawing a conclusion or
making an estimate set out in the forward-looking statements
include that the general economy is stable; local real estate
conditions are stable; interest rates are relatively stable; and
equity and debt markets continue to provide access to capital.
H&R cautions that this list of factors is not exhaustive.
Although the forward-looking statements contained in this news
release are based upon what H&R believes are reasonable
assumptions, there can be no assurance that actual results will be
consistent with these forward-looking statements. All
forward-looking statements in this news release are qualified by
these cautionary statements. These forward-looking statements are
made as of today and H&R, except as required by applicable law,
assumes no obligation to update or revise them to reflect new
information or the occurrence of future events or circumstances.
H&R Real Estate Investment Trust CONTACT: Larry Froom,Chief
Financial Officer, H&R REIT(416) 635-7520, or e-mail
info@hr-reit.com
Copyright
H and R Real Estate Inve... (TSX:HR.UN)
Historical Stock Chart
From May 2024 to Jun 2024
H and R Real Estate Inve... (TSX:HR.UN)
Historical Stock Chart
From Jun 2023 to Jun 2024