Motley Fool says Be Careful Here’s a top REIT that investors should watch out for in 2023
Northwest Healthcare REIT(TSX:NWH.UN) is a Toronto-based real estate investment trust (REIT) that owns and operates a global portfolio of high-quality healthcare real estate. Its shares were down 1.37% in late-morning trading on August 17. This REIT has fallen sharply in the year-over-year period.
Investors saw this REIT’s Q2 fiscal 2023 results on August 11. Total revenue rose 12% year over year to $126 million. Meanwhile, total assets under management (AUM) rose 1% to $10.3 billion. However, net asset value (NAV) per unit dropped 4.6% to $12.55.
Shares of this REIT are trading in favourable value territory at the time of this writing. However, current earnings are struggling to cover its monster monthly distribution of $0.067 per share, which represents a 12% yield. Northwest is still undervalued right now, but investors should keep an eye out, as the company may move to release some pressure on the distribution front.