The company focuses on healthcare properties around the world. Shares look reasonable from a valuation perspective and a yield in excess of 5% is attractive for inocme seeking investors. The dividend is covered and interest coverage is in the 2.1X range. Occupancy at 96% looks fine as well. NWH has been a laggard over the years and revenue and earnings are expected to see a decline for the full ear in 2025 and are expected to be flat in 2026 which makes us less interested. The company is going through a bit of a transition, selling some non-core properties and a tenant that amounts for 6% of revenues (Healthscope) is going through a receivership process. They appear to be still paying their obligations but not a great development regardless. NWH might be one to watch as they go through this turnaround but we might give it some time still.
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