# BSR Real Estate Investment Trust (HOM-UN.TO) fundamentals

Data as of 2026-09-08. TSX, Canada. Sector: Real Estate / Equity Real Estate Investment Trusts (REITs). Price C$14.88, market value C$578 million.

## Valuation
- **P/E (trailing): 18.1×** (5-yr avg 2.3×). BSR Real Estate Investment Trust trades at 18.1× trailing earnings, well above its own five-year average of 2.3×: investors are paying up relative to the company's past. The Real Estate median in the September 2026 study was 25.2×.
- **Price / sales: 3.1×**. Each dollar of revenue is priced at 3.1×.
- **Price / book: 0.6×**. The shares trade below book value, which can signal a bargain or a balance sheet the market doubts.
- **EV / EBITDA: 16.9×**. Enterprise value is 16.9× operating earnings before depreciation, the multiple that ignores how the company is financed.
- **Free-cash-flow yield: 6.6%** (5-yr avg 12.7%). Free cash flow equals 6.6% of the market value, below its five-year average of 12.7%, so the shares are pricier on cash than usual. Above 5% is generally attractive.
- **Earnings yield: 5.5%**. The inverse of the P/E: 5.5% of the price is earned each year.

## Profitability
- **Gross margin: 50.6%**. BSR Real Estate Investment Trust keeps 50.6% of revenue after the direct cost of what it sells.
- **Operating margin: 0.8%**. 0.8% of revenue is left after running the business, which leaves little cushion in a downturn.
- **Net margin: -43.5%**. The company reported a net loss over the last twelve months.
- **Return on equity: -11.0%**. Return on equity is negative because earnings are negative.
- **Return on invested capital: 0.1%**. Return on all capital, debt included, is 0.1%: close to or below the cost of capital, so growth may not create value.
- **Return on assets: 1.3%**. Each dollar of assets produces 1.3% of profit.

## Growth
- **Revenue growth (1 yr): -13.0%** (3-yr -2.5%/yr, 5-yr 5.3%/yr). Revenue fell 13.0% over the last year, against 5.3% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): -54.2%**. Earnings per share fell 54.2%, slower than revenue, so margins compressed.
- **Free-cash-flow growth (3 yr): -32.3%/yr**. Free cash flow has compounded at -32.3% a year over three years.

## Financial health
- **Debt to equity: 1.24**. Debt is 1.24 times equity, a leveraged balance sheet, which is normal for real estate.
- **Net debt / EBITDA: 10.7×**. It would take 10.7 years of operating earnings to repay net borrowings, above the 3× level most lenders treat as comfortable.
- **Current ratio: 0.17** (quick 0.17). Current liabilities exceed current assets, so the company depends on ongoing cash generation or refinancing to pay the next year's bills.
- **Altman Z-score: 1.00**. A Z-score of 1.00 is in the distress zone, a signal to examine the balance sheet closely.
- **Piotroski F-score: 5/9**. 5 of 9 checks pass: mixed.

## Dividends
- **Dividend yield: 5.22%** (C$0.78 per share, trailing). BSR Real Estate Investment Trust yields 5.22%, an income-level yield.
- **Consecutive years of increases: 4**. 4 straight years of increases.
- **Dividend growth (5 yr): 3.1%/yr** (1-yr 6.4%). The dividend has grown 3.1% a year over five years.

## Price and momentum
- **Total return (1 yr): -11.4%** (YTD -10.9%, 3-mo -8.9%). The shares are down 11.4% over twelve months including dividends.
- **From 52-week high: -21.0%** (2.8% above the low). Trading 21% below its 52-week high.
- **200-day average: below**. The price sits below its 200-day moving average, the usual definition of a downtrend.
- **RSI (14-day): 28**. An RSI of 28 is oversold; bounces are common, but oversold can stay oversold in a real decline.
- **Beta (1 yr): 0.20** (volatility 23%). Beta of 0.20 against the S&P/TSX Composite: the shares move much less than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=HOM-UN.TO · Page: https://foliofundamentals.com/stocks/hom-un.to

Not investment advice.