Good quarter for H&R

Article Excerpt

H&R REIT $22.10 (Toronto symbol HR.UN; Units outstanding: 270.3 million; Market cap: $6.0 billion; TSINetwork Rating: Extra Risk; Dividend yield: 6.1%; www.hr-reit.com) reported revenue of $314.6 million in the three months ended December 31, 2013. That was up 45.2% from $216.6 million a year earlier. The gain mostly came from the addition of the 27 properties acquired from Primaris REIT in April 2013 for about $3.1 billion. Cash flow per unit rose 6.8%, to $0.47 from $0.44. Leasing revenue from the now completed $1.33-billion The Bow office complex in Calgary added to cash flow. The REIT pays a monthly distribution of $0.1125 per unit, for a 6.1% yield. H&R REIT is a buy. buy…