H&R Real Estate Investment Trust (HRUN) Earnings Call Transcripts

H&R Real Estate Investment Trust's Latest Earnings Call - Q1 FY2026

In the first quarter of 2026, H&R Real Estate Investment Trust reported a revenue increase driven by strong demand in their Sunbelt portfolio, despite a slight decline in occupancy rates. Revenue from residential properties increased by 2.3% year-over-year, while the company transitioned property management to Greystar, which is expected to yield significant operational efficiencies. Management maintained a positive outlook, indicating that early indicators post-transition are encouraging and that they expect to capitalize on a market recovery in the latter half of the year.

Reported metrics

Guidance from management

Management expects to see improved occupancy and leasing spreads in Q2, with a more favorable market position anticipated in Q3 and Q4. They remain confident in achieving $500 million in asset sales this year.

What management said

Good morning, everyone, and thanks for joining us. Larry Froom, our CFO, is not available today. Cheryl Fried and Jason Burkin will be taking the questions. In light of that, we're going to bypass Larry's introductory comments and go right to Emily Watson, Head of our Lantower division, to bring us up to date. Emily?

Occupancy is right around that 90% mark, Jimmy, thanks for the question. I would not be surprised and obviously can't put an attribution to it, but the Q1 was our transition month to Greystar. So I think that we had a lot of operational focus on our websites transitioning our property, our folks learning new roles, just if you can remember back when you started a new job. So I do think that had an effect. To what e...

What analysts pressed on

Analysts expressed concerns regarding the decline in occupancy rates and the negative new lease trade-outs. There were questions about the impact of the management transition on operational performance and the timeline for asset sales.

Main topics on the call

• Transition to Greystar Management — H&R successfully transitioned property management to Greystar on April 1, leading to early positive indicators such as an 18% increase in lead volume and a 70% rise in approved leases year-over-year for April. Management...
• Occupancy Rates and Leasing Trends — Same-asset occupancy declined to 90.9%, down 1.2% from Q4 2025. Management attributed this to the transition period but expects improvement, stating, "April getting everybody marching in the right direction proves that e...
• Revenue Growth from Residential Properties — The company reported a 2.3% increase in same-property net operating income on a cash basis from residential properties in U.S. dollars compared to Q1 2025. This growth was primarily driven by the lease-up of new properti...
• Development Progress — H&R has nine Sunbelt developments in the pipeline totaling approximately 2,900 suites, with two projects in Florida expected to receive TCO by June. Management expressed confidence in the developments, stating they are "...

Read the full H&R Real Estate Investment Trust transcript (Q1 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 28 H&R Real Estate Investment Trust earnings call transcripts on record, spanning February 14, 2020 to May 15, 2026. Based on this history, H&R Real Estate Investment Trust reports quarterly. The most recent call on file is dated May 15, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

HRUN

Exchange

TSX

Country

CA

Sector

Real Estate

Industry

Diversified REITs

Calls on record

28

First call

February 14, 2020

Most recent

May 15, 2026

Reporting cadence

quarterly