Northwest Healthcare Property REIT

NWH.UN-T

Analysis and Opinions about NWH.UN-T

Signal
Opinion
Expert
HOLD
HOLD
January 18, 2011
Focused on medical office buildings. It is a unique asset class amongst Canadian REITS. He likes the space. It has had a nice run. A solid long-term hold but he calls it a hold right now since an acquisition of a building that many have some problems.
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Focused on medical office buildings. It is a unique asset class amongst Canadian REITS. He likes the space. It has had a nice run. A solid long-term hold but he calls it a hold right now since an acquisition of a building that many have some problems.
PAST TOP PICK
PAST TOP PICK
December 10, 2010
(Northern Property (NPR.UN-T) was his Top Pick March 19/09 but he talked about this one instead. My records show this was NEVER a Top Pick of his. Not an easy guy to follow. Bill.) Has flattened out recently. Sold his holdings as he was a little skeptical on medical hospital holdings.
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(Northern Property (NPR.UN-T) was his Top Pick March 19/09 but he talked about this one instead. My records show this was NEVER a Top Pick of his. Not an easy guy to follow. Bill.) Has flattened out recently. Sold his holdings as he was a little skeptical on medical hospital holdings.
TOP PICK
TOP PICK
December 7, 2010
REIT. A play on Canada’s aging population. Focusing on fragmented health care facilities. Nice payout yield and can go higher in the next couple of years. 7% dividend. They take over groups of health care offices and convert to pay-for parking, change leases, etc.
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REIT. A play on Canada’s aging population. Focusing on fragmented health care facilities. Nice payout yield and can go higher in the next couple of years. 7% dividend. They take over groups of health care offices and convert to pay-for parking, change leases, etc.
BUY WEAKNESS
BUY WEAKNESS
August 20, 2010
Medical office buildings in GTA. Didn't get in on IPO because of concerns of underwriting, cash flow and occupancy. In 2 quarters following IPO the concerns occurred but not to any great extent and were ignored by the market. Currently re-evaluating. Too rich so try to buy in the $10 area.
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Medical office buildings in GTA. Didn't get in on IPO because of concerns of underwriting, cash flow and occupancy. In 2 quarters following IPO the concerns occurred but not to any great extent and were ignored by the market. Currently re-evaluating. Too rich so try to buy in the $10 area.
COMMENT
COMMENT
July 26, 2010
Focused on medical buildings, which are boring, defensive properties but are rented out to about 75% of government services. Recently did an IPO and the risk is management might have underestimated their “General and administrative” costs. 7.1% yield. Just recently sold his holdings in order to move money to another story.
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Focused on medical buildings, which are boring, defensive properties but are rented out to about 75% of government services. Recently did an IPO and the risk is management might have underestimated their “General and administrative” costs. 7.1% yield. Just recently sold his holdings in order to move money to another story.
WAIT
WAIT
June 18, 2010
New REIT, playing on the aging population. Doctor’s offices, etc. Been well accepted. Market is off its peak.
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New REIT, playing on the aging population. Doctor’s offices, etc. Been well accepted. Market is off its peak.
COMMENT
COMMENT
May 17, 2010
Medical offices and are taking advantage of the need for good offices besides hospitals. New issue that was very broadly accepted. 7.3% distribution should be fine.
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Medical offices and are taking advantage of the need for good offices besides hospitals. New issue that was very broadly accepted. 7.3% distribution should be fine.
COMMENT
COMMENT
April 28, 2010
Medical office buildings. Generally suburban and lowrise that have either been retrofitted or built specifically to house doctors’ offices that require more power for lighting, etc. He had concerns on valuations and what was included in cash flow. Has potential to be an out performer over 5-10 years but he couldn't gauge the risk of the cash flow.
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Medical office buildings. Generally suburban and lowrise that have either been retrofitted or built specifically to house doctors’ offices that require more power for lighting, etc. He had concerns on valuations and what was included in cash flow. Has potential to be an out performer over 5-10 years but he couldn't gauge the risk of the cash flow.
TOP PICK
TOP PICK
April 1, 2010
New issue. Focuses on medical buildings. About 70% of revenue comes from government sources. Buying mom-and-pop buildings at about 9% cap rate and funding at around 6%. Should do well over the next year or two.
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New issue. Focuses on medical buildings. About 70% of revenue comes from government sources. Buying mom-and-pop buildings at about 9% cap rate and funding at around 6%. Should do well over the next year or two.
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