Q: What is your take on First Quarter 2025 Results.
https://ca.finance.yahoo.com/news/northwest-healthcare-properties-real-estate-203000340.html
What do you think about taking a starter position with this reit.
Thank you
https://ca.finance.yahoo.com/news/northwest-healthcare-properties-real-estate-203000340.html
What do you think about taking a starter position with this reit.
Thank you
5i Research Answer:
Cash flow per unit of 10c missed estimates of 11c. Revenue of $111.6M beat estimates of $95.6M. EBITDA of $80M beat estimates by 25%. Revenue fell 16% because of prior dispositions of assets. Operating income rose 4.5%. Cash flow per unit was flat year over year. Cost controls were good. Occupancy rose 0.1% to 96.5%. Payout was 92% vs 80%. A mixed quarter, but not really problematic. The units are cheap at 10X cash flow and the stock is doing better this year. Not one of our favourites, but we would see it as OK for small-cap income investors.