Big distribution rise for H&R

Article Excerpt

H&R REIT $16.43 (Toronto symbol HR.UN; Units outstanding: 144 million; Market cap: $2.4 billion; SI Rating: Extra Risk; Dividend yield: 5.1%) will raise its annual distribution by 45.8% over the next eight quarters, to $1.05 from $0.72. The REIT will raise its yearly distribution by 16.7%, to $0.84, with the 2010 third-quarter payment. It will then raise its distribution by $0.03 per quarter starting with the 2010 fourth-quarter payment until the annual rate reaches $1.05 in the second quarter of 2012. Even with the full increase, H&R will have a low payout ratio and room for more increases. H&R REIT is a buy. buy…