Northwest Healthcare Property REIT

NWH.UN-T

Analysis and Opinions about NWH.UN-T

Signal
Opinion
Expert
COMMENT
COMMENT
March 27, 2014

You can stream the income with this. Largest owner of medical buildings in North America. Stock sold off because people don’t want to own REITs that don’t have a lot of operating leverage. Also, they have not hit their operating numbers. They could not lease out all of the properties mentioned in the IPO.

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You can stream the income with this. Largest owner of medical buildings in North America. Stock sold off because people don’t want to own REITs that don’t have a lot of operating leverage. Also, they have not hit their operating numbers. They could not lease out all of the properties mentioned in the IPO.

BUY
BUY
March 27, 2014

Medical office building REIT, pretty much the only one in Canada. Should benefit from improving demographics and demand for doctors. Had a lousy 2014 outlook and have a number of tenants moving out, which they will have to replace. They are going to benefit from lower mortgage rates and he thinks the stock is worth north of $11.

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Medical office building REIT, pretty much the only one in Canada. Should benefit from improving demographics and demand for doctors. Had a lousy 2014 outlook and have a number of tenants moving out, which they will have to replace. They are going to benefit from lower mortgage rates and he thinks the stock is worth north of $11.

COMMENT
COMMENT
March 19, 2014

Focused on medical office buildings and regular office buildings that cater to healthcare type tenants. Have fallen over the last 6 months along with the sector, but they face some unique issues. Haven’t been able to get to their stabilized level of occupancy. Management have indicated that they believe they can get to 93%, but have only reached 91%. Also, the Canadian office market is seeing some increased supply. He is concerned about competition. Trading at a substantial discount (15%) to their NAV. 8.3% yield will continue to be sustainable. Any investor that is looking for value and has patience could consider this as an investment.

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Focused on medical office buildings and regular office buildings that cater to healthcare type tenants. Have fallen over the last 6 months along with the sector, but they face some unique issues. Haven’t been able to get to their stabilized level of occupancy. Management have indicated that they believe they can get to 93%, but have only reached 91%. Also, the Canadian office market is seeing some increased supply. He is concerned about competition. Trading at a substantial discount (15%) to their NAV. 8.3% yield will continue to be sustainable. Any investor that is looking for value and has patience could consider this as an investment.

BUY
BUY
February 28, 2014

Likes the prospects. Very stable income stream. Pulled back dramatically in this environment. Looks very attractive.

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Likes the prospects. Very stable income stream. Pulled back dramatically in this environment. Looks very attractive.

HOLD
HOLD
February 26, 2014

They can’t get the love of the market. Their portfolio is very stable but leasing is a high maintenance process. Yield is safe. Yield is your main source of return.

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They can’t get the love of the market. Their portfolio is very stable but leasing is a high maintenance process. Yield is safe. Yield is your main source of return.

COMMENT
COMMENT
February 11, 2014

Basically owns medical buildings and is a very, very consistent business. Also, owns the parking lots. There are higher operating costs because of their x-ray machines, etc. 7% yield. The problem is their ownership of N.W. International Healthcare (MOB.UN-X). He feels they should just do only one thing. (See comments on Artis REIT (AX.UN-T) as well, which also has medical offices.)

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Basically owns medical buildings and is a very, very consistent business. Also, owns the parking lots. There are higher operating costs because of their x-ray machines, etc. 7% yield. The problem is their ownership of N.W. International Healthcare (MOB.UN-X). He feels they should just do only one thing. (See comments on Artis REIT (AX.UN-T) as well, which also has medical offices.)

COMMENT
COMMENT
January 21, 2014

Bought this on the IPO, held it for the yield but became increasing negative on it because they were basically paying full value for the acquisitions they were making and not adding value. They are not developers, but more financial engineers. Prefers companies that have real growth and can add value.

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Bought this on the IPO, held it for the yield but became increasing negative on it because they were basically paying full value for the acquisitions they were making and not adding value. They are not developers, but more financial engineers. Prefers companies that have real growth and can add value.

COMMENT
COMMENT
January 17, 2014

Trading at a deep discount right now. Owns medical office buildings in the GTA and Western Canada. The challenge has always been getting the leasing and occupancy up, which has always kept him away from the stock but has been very impressed with the quality of buildings they’ve bought. 7.67% yield.

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Trading at a deep discount right now. Owns medical office buildings in the GTA and Western Canada. The challenge has always been getting the leasing and occupancy up, which has always kept him away from the stock but has been very impressed with the quality of buildings they’ve bought. 7.67% yield.

COMMENT
COMMENT
December 16, 2013

Likes the medical office space. Very resilient. Doctors and dentists don’t move around a lot. Very good model. Wasn’t particularly enthusiastic about a lot of the acquisitions they made when they first started. Seemed to be growing for the sake of growing. Sold his holdings. As a long-term investor, you should do fine.

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Likes the medical office space. Very resilient. Doctors and dentists don’t move around a lot. Very good model. Wasn’t particularly enthusiastic about a lot of the acquisitions they made when they first started. Seemed to be growing for the sake of growing. Sold his holdings. As a long-term investor, you should do fine.

DON'T BUY
DON'T BUY
December 9, 2013

Looks to be making a bit of a bottom. We are still in a pattern of lower highs and lower lows. If it starts making a higher low and higher high, then we should look at it. No technical evidence that the bottom is in yet.

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Looks to be making a bit of a bottom. We are still in a pattern of lower highs and lower lows. If it starts making a higher low and higher high, then we should look at it. No technical evidence that the bottom is in yet.

TOP PICK
TOP PICK
November 28, 2013

This has demographics on its side. Focus is on doctors and medical office buildings. Building a nice portfolio of property. Has been pounded and yet cash flow is fully covered. Doesn’t think there is going to be massive growth on any REIT but thinks this one is a “valuation mismatch”. Yield of 7.87%. Could be a takeover candidate if it remains at these levels.

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This has demographics on its side. Focus is on doctors and medical office buildings. Building a nice portfolio of property. Has been pounded and yet cash flow is fully covered. Doesn’t think there is going to be massive growth on any REIT but thinks this one is a “valuation mismatch”. Yield of 7.87%. Could be a takeover candidate if it remains at these levels.

PAST TOP PICK
PAST TOP PICK
October 9, 2013

(Top Pick Sep 14/12, Down 13.18%) Interest rates went up and people bailed out of these names because people said you should. Can’t believe there has not been a take-over offer on this name.

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(Top Pick Sep 14/12, Down 13.18%) Interest rates went up and people bailed out of these names because people said you should. Can’t believe there has not been a take-over offer on this name.

HOLD
HOLD
July 24, 2013

(Market Call Minute.) Largest medical office building owner in Canada. Thinks there is a very good argument to be made for consolidation of the industry. Patient care is going to increase.

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(Market Call Minute.) Largest medical office building owner in Canada. Thinks there is a very good argument to be made for consolidation of the industry. Patient care is going to increase.

BUY
BUY
July 9, 2013

Didn’t participate in the IPO but continues to follow this very closely. Management has done a very good job in trying to tackle the hurdles that it would take for him to invest in this. Hasn’t been many buying opportunities as it has continually traded above NAV, but today it is trading below NAV. Payout ratio is in the 90s so yield should be stable. Occupancy is sitting around 91% and management is trying to get it up to 94% but he is not confident they can. If you Buy today, you are getting a stable yield and at well below what the assets are worth.

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Didn’t participate in the IPO but continues to follow this very closely. Management has done a very good job in trying to tackle the hurdles that it would take for him to invest in this. Hasn’t been many buying opportunities as it has continually traded above NAV, but today it is trading below NAV. Payout ratio is in the 90s so yield should be stable. Occupancy is sitting around 91% and management is trying to get it up to 94% but he is not confident they can. If you Buy today, you are getting a stable yield and at well below what the assets are worth.

BUY WEAKNESS
BUY WEAKNESS
June 14, 2013

He was lightening up but would be adding at $10.50-$11.

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He was lightening up but would be adding at $10.50-$11.

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