TSX:NWH.DB.G - Post by User
Post by
BlueJay2020on Apr 21, 2023 10:23am
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Post# 35407099
Opened a position at $8.21
Opened a position at $8.21Dipped my toe in the water this morning and picked up a couple of thousand shares. Very defensive assets with long leases indexed to inflation and the support of an insitutional investor - one critical flaw (floating rate debt) which has been and is being addressed. Management seem to be on top of things and they have set out a clear roadmap by which leverage can be reduced and cost of capital brought down, increased certainty for investors and a good likelihood that the distribution will not be cut (and certainly shouldn't need a dramatic haircut that lower quality REITS have seen).
My gut is telling me we're on the cusp of a cyclical change and good quality out-of-favour REITS will bounce back from here. That's why I've also been buying Dream Office and Allied.
I might be too early but these low points for the stocks indicate the risk/reward is there for these stocks.