Northwest Healthcare Property REIT | StockChase
71
Northwest Healthcare Property REIT (NWH.UN-T)

Last Price Recorded: $11.3300 on 2017-12-12

ON STOCKCHASE SINCE Apr 2010

REAL ESTATE
71
Northwest Healthcare Property REIT (NWH.UN-T)

Last Price Recorded: $11.3300 on 2017-12-12

ON STOCKCHASE SINCE Apr 2010


Northwest Healthcare Property REIT


Signal Opinion Expert
COMMENT

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%.

REAL ESTATE

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%.

REAL ESTATE
Barry Schwartz

CIO & Portfolio Manager, Baskin Wealth Manage...

PricePrice
$11.610
Owned Owned
No

COMMENT

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.

REAL ESTATE

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.

REAL ESTATE
Derek Warren

Asst Vice President, Lincluden Investment...

PricePrice
$10.940
Owned Owned
No

COMMENT

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.

REAL ESTATE

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.

REAL ESTATE
Dean Orrico

President, Middlefield Capital ...

PricePrice
$10.160
Owned Owned
Unknown

COMMENT

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.

REAL ESTATE

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.

REAL ESTATE
Andy Nasr

VP & Investment Strategist, Sentry Investments...

PricePrice
$9.660
Owned Owned
No

SHORT

NWH.UN-T vs. CSH.UN-T.  CSH.UN-T has decent growth because of their demographics.  His problem with REITs is that they were one of the biggest beneficiaries of the low interest rate.  He looks at the cap rate and turns it into an enterprise value and you are paying 15-16 times operating cash flow.  You should pay that for a high tech company, not a healthcare company.  You are paying out 80-90% of the income as yield.  You can’t do that in other sectors.  Where is the money to invest in the business – how does it grow?  He went short the REITs about two months ago.  He does not like either one, but if forced to choose it would be CSH.UN-T.

REAL ESTATE

NWH.UN-T vs. CSH.UN-T.  CSH.UN-T has decent growth because of their demographics.  His problem with REITs is that they were one of the biggest beneficiaries of the low interest rate.  He looks at the cap rate and turns it into an enterprise value and you are paying 15-16 times operating cash flow.  You should pay that for a high tech company, not a healthcare company.  You are paying out 80-90% of the income as yield.  You can’t do that in other sectors.  Where is the money to invest in the business – how does it grow?  He went short the REITs about two months ago.  He does not like either one, but if forced to choose it would be CSH.UN-T.

REAL ESTATE
John Zechner

Chairman, J. Zechner & Assoc...

PricePrice
$10.520
Owned Owned
No

COMMENT

Something of a healthcare REIT, and is typical of a lot of younger REITs where they’ve got a development company that identifies properties, builds them up and gets them fully leased, and blends them in. This has had some hiccups in the last little while. It is trading at a discount to NAV. Not a bad way to play the sector if you are looking for real estate exposure in this particular area.

REAL ESTATE

Something of a healthcare REIT, and is typical of a lot of younger REITs where they’ve got a development company that identifies properties, builds them up and gets them fully leased, and blends them in. This has had some hiccups in the last little while. It is trading at a discount to NAV. Not a bad way to play the sector if you are looking for real estate exposure in this particular area.

REAL ESTATE
Dean Orrico

President, Middlefield Capital ...

PricePrice
$10.480
Owned Owned
Yes

COMMENT

(Market Call Minute.) Excellent management. A niche business in that they are growing in the healthcare space but have now focused outside of Canada, and are getting leased properties that have cap rates that you don’t really see in Canada. Being in a foreign market, currency is an obvious issue. If you own it, he expects you are going to get a nice distribution. Expect they will make acquisitions and grow.

REAL ESTATE

(Market Call Minute.) Excellent management. A niche business in that they are growing in the healthcare space but have now focused outside of Canada, and are getting leased properties that have cap rates that you don’t really see in Canada. Being in a foreign market, currency is an obvious issue. If you own it, he expects you are going to get a nice distribution. Expect they will make acquisitions and grow.

REAL ESTATE
Bruce Campbell (2)

President & Portfolio Manager, Stone Castle Investm...

PricePrice
$10.500
Owned Owned
Unknown

COMMENT

Has trouble figuring out the Brazilian, German, New Zealand and Canadian Healthcare systems, so doesn’t own this. Because it is so complex, he thinks it should trade at a higher yield. Going forward they are committed to growth from a global standpoint. He’ll wait for a couple of more quarters and look for a more stable growth trend. 

REAL ESTATE

Has trouble figuring out the Brazilian, German, New Zealand and Canadian Healthcare systems, so doesn’t own this. Because it is so complex, he thinks it should trade at a higher yield. Going forward they are committed to growth from a global standpoint. He’ll wait for a couple of more quarters and look for a more stable growth trend. 

REAL ESTATE
Derek Warren

Asst Vice President, Lincluden Investment...

PricePrice
$10.710
Owned Owned
No

COMMENT

Owns this in his income portfolio. Their portfolio is diversified outside of Canada. Thinks they will continue to grow by acquisition. They pay nice yield and the CEO owns a fair bit of the stock as well.

REAL ESTATE

Owns this in his income portfolio. Their portfolio is diversified outside of Canada. Thinks they will continue to grow by acquisition. They pay nice yield and the CEO owns a fair bit of the stock as well.

REAL ESTATE
Bruce Campbell (2)

President & Portfolio Manager, Stone Castle Investm...

PricePrice
$10.090
Owned Owned
Yes

COMMENT

(Market Call Minute.) Global exposure to different healthcare sectors, Australia, Germany and Brazil. A little too complicated.

REAL ESTATE

(Market Call Minute.) Global exposure to different healthcare sectors, Australia, Germany and Brazil. A little too complicated.

REAL ESTATE
Derek Warren

Asst Vice President, Lincluden Investment...

PricePrice
$9.950
Owned Owned
No

WAIT

When you buy this, you are getting the core Medical Office Buildings in Canada, which leases to doctors and clinics. You are also getting some assets in Germany, New Zealand and Brazil. (Hospital type assets.) Have recently gone through a merger and restructuring. He’d like to give it a couple of quarters of hard data to see how they do.

REAL ESTATE

When you buy this, you are getting the core Medical Office Buildings in Canada, which leases to doctors and clinics. You are also getting some assets in Germany, New Zealand and Brazil. (Hospital type assets.) Have recently gone through a merger and restructuring. He’d like to give it a couple of quarters of hard data to see how they do.

REAL ESTATE
Derek Warren

Asst Vice President, Lincluden Investment...

PricePrice
$9.670
Owned Owned
No

COMMENT

The largest owner of medical office buildings in Canada with some exposure in Brazil, New Zealand and Germany. Because it is so diverse it is tough for investors to get a handle on what is happening in each of those different markets, especially if you consider what is going on in Brazil. He has some underlying concerns about the health in some of those markets. Has a relatively high payout ratio that is going to have to rely on acquisitions to facilitate growth. In this market, where most REITs are trading at a substantial discount to NAV, it is going to be much harder to realize non-organic growth. Prefers others.

REAL ESTATE

The largest owner of medical office buildings in Canada with some exposure in Brazil, New Zealand and Germany. Because it is so diverse it is tough for investors to get a handle on what is happening in each of those different markets, especially if you consider what is going on in Brazil. He has some underlying concerns about the health in some of those markets. Has a relatively high payout ratio that is going to have to rely on acquisitions to facilitate growth. In this market, where most REITs are trading at a substantial discount to NAV, it is going to be much harder to realize non-organic growth. Prefers others.

REAL ESTATE
Andy Nasr

VP & Investment Strategist, Sentry Investments...

PricePrice
$8.570
Owned Owned
No

BUY

Their recent merger with North West International has changed the properties dramatically.  They have medical buildings and hospitals in Brazil, Australia and Germany now.  The portfolio has held up well in Brazil, but he worries about the currency risk.  The balance sheet is in excellent shape.  He thinks the prospects are excellent. 

REAL ESTATE

Their recent merger with North West International has changed the properties dramatically.  They have medical buildings and hospitals in Brazil, Australia and Germany now.  The portfolio has held up well in Brazil, but he worries about the currency risk.  The balance sheet is in excellent shape.  He thinks the prospects are excellent. 

REAL ESTATE
Ben Cheng

President and Chief Investment Officer, Aston Hill Financial...

PricePrice
$8.510
Owned Owned
Unknown

COMMENT

Sold his holdings a good year ago. The company could never put the puck in the net. Believes they’re merging the Canadian and international divisions. He doesn’t know if the yield is safe, but 10% seems like an outlier.

REAL ESTATE

Sold his holdings a good year ago. The company could never put the puck in the net. Believes they’re merging the Canadian and international divisions. He doesn’t know if the yield is safe, but 10% seems like an outlier.

REAL ESTATE
Barry Schwartz

CIO & Portfolio Manager, Baskin Wealth Manage...

PricePrice
$8.030
Owned Owned
No

DON'T BUY

He sold it quickly after buying it in 2010.  They had a global health care REIT.  They were running two different businesses.  Should you worry about the global side or the Canadian side.  The end result has been that it is down $2.  They just merged Brazilian/German assets into one entity.  He would avoid this story.

REAL ESTATE

He sold it quickly after buying it in 2010.  They had a global health care REIT.  They were running two different businesses.  Should you worry about the global side or the Canadian side.  The end result has been that it is down $2.  They just merged Brazilian/German assets into one entity.  He would avoid this story.

REAL ESTATE
Paul Gardner, CFA

Partner and Portfolio Manager, Avenue Investment Ma...

PricePrice
$8.150
Owned Owned
No

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1 Comment

REIT

November 24th 2016 at 9:30am

All of intitutions and people are in to investments in order to prosper with the monies amount.
So far only losses have been occuring Why?


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