TSX:NWH.DB.G - Post by User
Post by
baystreetlightson Mar 31, 2023 12:51pm
352 Views
Post# 35372132
Better than expected, but much work to be done
Better than expected, but much work to be doneBased on the way the stock was trading the past month, I was fully expecting a TNT.UN situation with a dividend cut and 30% crash. Reading over the conference call, I do feel more confident. They know they situation they are in and what they need to do to get out of it. The balance sheet is not in a good place, debt is too high and too much variable rate exposure. If they can execute on the asset sales and JVs this can be solved. The payout ratio is also too high, but management indicated AFFO will be rebound this year and he is planning to get AFFO to $1 in a few years. If management can truly execute on this, the stock is worth $12+. It's really all about execution at this point.