Northwest Healthcare Property REIT

NWH.UN-T

Analysis and Opinions about NWH.UN-T

Signal
Opinion
Expert
BUY
BUY
December 2, 2019
What he likes the most is that their managers expands from investing in pure real estate to asset management. This increases returns. NWH has moved into asset management in a big way. Also has good free cash flow.
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What he likes the most is that their managers expands from investing in pure real estate to asset management. This increases returns. NWH has moved into asset management in a big way. Also has good free cash flow.
BUY WEAKNESS
BUY WEAKNESS
November 27, 2019
The dividend is pretty safe he feels. They operate globally, owing hospitals globally included in Australia, Brazil and New Zealand as well as Canada. A complex structure of joint ventures with long term contracts. There is some exchange rate risk. It has a $1.6 billion market cap. He would buy on a pullback. Yield 6.5%
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The dividend is pretty safe he feels. They operate globally, owing hospitals globally included in Australia, Brazil and New Zealand as well as Canada. A complex structure of joint ventures with long term contracts. There is some exchange rate risk. It has a $1.6 billion market cap. He would buy on a pullback. Yield 6.5%
BUY
BUY
November 4, 2019
A global medical office REIT. Competent management and a good niche sector that they operate in. They recently issued equity and so that caps upside. The risk here is they are investing globally and so taking on a lot of currency risk. They don’t hedge currencies.
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A global medical office REIT. Competent management and a good niche sector that they operate in. They recently issued equity and so that caps upside. The risk here is they are investing globally and so taking on a lot of currency risk. They don’t hedge currencies.
COMMENT
COMMENT
September 24, 2019
It's defensive. They own medical facilities. They've grown in Brazil and Australia. It's a fine stock. He once owned it. Problems: debt, so they're selling some properties; and will they perform in Brazil and Australia? He's neutral on this. The share price hasn't moved much beyond the IPO a decade ago.
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It's defensive. They own medical facilities. They've grown in Brazil and Australia. It's a fine stock. He once owned it. Problems: debt, so they're selling some properties; and will they perform in Brazil and Australia? He's neutral on this. The share price hasn't moved much beyond the IPO a decade ago.
DON'T BUY
DON'T BUY
July 23, 2019
Rising interest rates? We have had a good rally on REITs in general as interest rates have recently been declining. Rising rates will hurt these assets. This REIT has good diversification in Canada and Australia and are in medical spaces. He has never owned this and finds it a bit pricey. He would avoid it at this time.
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Rising interest rates? We have had a good rally on REITs in general as interest rates have recently been declining. Rising rates will hurt these assets. This REIT has good diversification in Canada and Australia and are in medical spaces. He has never owned this and finds it a bit pricey. He would avoid it at this time.
DON'T BUY
DON'T BUY
April 12, 2019
It pays 82% of free cash flow. Sales are down 7% on the year and it trades at 13 times earnings. It holds a lot of debt at 16 times earnings. He would look elsewhere. Yield 6.9%.
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It pays 82% of free cash flow. Sales are down 7% on the year and it trades at 13 times earnings. It holds a lot of debt at 16 times earnings. He would look elsewhere. Yield 6.9%.
PAST TOP PICK
PAST TOP PICK
January 4, 2019
(A Top Pick Sep 06/18, Down 13%) He thinks it has gotten better with a recent announcement on a project in Australia. They run medical office buildings in Canada, Germany, Brazil and other locations. He likes the global exposure and sees lots of growth going forward.
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(A Top Pick Sep 06/18, Down 13%) He thinks it has gotten better with a recent announcement on a project in Australia. They run medical office buildings in Canada, Germany, Brazil and other locations. He likes the global exposure and sees lots of growth going forward.
PAST TOP PICK
PAST TOP PICK
September 6, 2018

(A Top Pick Jul 19/18, Up 0.3%) They are doing a lot of very smart things in the health care area around the world and he is sticking with it.

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(A Top Pick Jul 19/18, Up 0.3%) They are doing a lot of very smart things in the health care area around the world and he is sticking with it.

TOP PICK
TOP PICK
September 6, 2018

It is a Canadian firm, owning medical buildings. That was their original business and they are redeploying some of their capital internationally. They have had some fantastic capital deployment. They are now going to run one of the biggest Australian healthcare real estate funds. You get about a 7% yield. (Analysts’ target: $11.85).

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It is a Canadian firm, owning medical buildings. That was their original business and they are redeploying some of their capital internationally. They have had some fantastic capital deployment. They are now going to run one of the biggest Australian healthcare real estate funds. You get about a 7% yield. (Analysts’ target: $11.85).

TOP PICK
TOP PICK
July 19, 2018

The only REIT he owns. The property portfolio is not just Canadian but half is international. The CEO is a very smart capital allocator. He owns quite a bit of the company. (Analysts’ target: $11.65).

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The only REIT he owns. The property portfolio is not just Canadian but half is international. The CEO is a very smart capital allocator. He owns quite a bit of the company. (Analysts’ target: $11.65).

DON'T BUY
DON'T BUY
May 29, 2018

He long ago owned this. It trades at a cheap 14x AFFO. It's in several businesses across several georgapies (i.e. German, Australia, Canada). But he wants a REIT that's highly specific or is best in class. This is neither. Their last quarter was weak, too. They'll need a lot of acqusitions to keep going. They're stretched out.

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He long ago owned this. It trades at a cheap 14x AFFO. It's in several businesses across several georgapies (i.e. German, Australia, Canada). But he wants a REIT that's highly specific or is best in class. This is neither. Their last quarter was weak, too. They'll need a lot of acqusitions to keep going. They're stretched out.

COMMENT
COMMENT
November 27, 2017

Their plan is to acquire medical office buildings and standardize the rent and leases, get advertising and get parking. It was a Canadian only entity, but then merged with Northwest International, and has become a much bigger REIT. A REIT is fine in your portfolio, but it’s hard to get excited about a company that has to pay out 95% of its cash flow to shareholders. The valuation on all REITs is quite expensive at this time. Yield of almost 7%.

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Their plan is to acquire medical office buildings and standardize the rent and leases, get advertising and get parking. It was a Canadian only entity, but then merged with Northwest International, and has become a much bigger REIT. A REIT is fine in your portfolio, but it’s hard to get excited about a company that has to pay out 95% of its cash flow to shareholders. The valuation on all REITs is quite expensive at this time. Yield of almost 7%.

COMMENT
COMMENT
April 18, 2017

A really interesting organization. You are buying healthcare assets, such as hospitals and medical treatment centres in multiple markets such as Brazil, Germany, New Zealand and Canada. That really diversifies your risk. He doesn’t own it because as a real estate guy he has trouble valuing properties in those kind of diverse markets, without really understanding what is happening in healthcare, etc. 7.3% dividend yield.

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A really interesting organization. You are buying healthcare assets, such as hospitals and medical treatment centres in multiple markets such as Brazil, Germany, New Zealand and Canada. That really diversifies your risk. He doesn’t own it because as a real estate guy he has trouble valuing properties in those kind of diverse markets, without really understanding what is happening in healthcare, etc. 7.3% dividend yield.

COMMENT
COMMENT
January 25, 2017

A globally diversified REIT with exposure in Canada, Brazil, Germany, Austria and Asia. Rather than being in healthcare, they are more of a rent collector. In Canada, in particular, they run medical office buildings, which is a more defensive part of the market. Yield of about 8%. Although it has some positive attributes, the balance sheet is stretched, and a lot of their debts are in convertible bonds.

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A globally diversified REIT with exposure in Canada, Brazil, Germany, Austria and Asia. Rather than being in healthcare, they are more of a rent collector. In Canada, in particular, they run medical office buildings, which is a more defensive part of the market. Yield of about 8%. Although it has some positive attributes, the balance sheet is stretched, and a lot of their debts are in convertible bonds.

COMMENT
COMMENT
November 23, 2016

This has medical office buildings in other parts of the world like Brazil, Australia, New Zealand. There are a lot of cross currency issues. Has a relatively high payout ratio. He prefers other names in terms of risk/reward.

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This has medical office buildings in other parts of the world like Brazil, Australia, New Zealand. There are a lot of cross currency issues. Has a relatively high payout ratio. He prefers other names in terms of risk/reward.

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