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Hibernia REIT Plc $HBRN #HBRN is possibly the cheapest office REIT in Europe, at 0.66x NAV w/ a 4.7% dividend yield. HBRN owns a prime Dublin office portfolio, v. lowly geared at ~20% LTV -
$HBRN's valuation seems truly anomalous when one considers the quality of it's portfolio, comprising prime city offices leased to sticky government/tech/ blue chip tenant base, which had one of the strongest rent collection rates of any REIT across Europe through COVID lockdowns
