NorthWest Healthcare Properties REIT (NWH.UN) AI Stock Analysis

• Market Cap: C$1.40B
• Dividend Yield: 7.06%
• Average Volume (3M): 590.18K
• Price to Earnings (P/E): 28.0
• Beta (1Y): 0.89
• Revenue Growth: -13.30%
• EPS Growth: N/A
• Country: CA
• Employees: 213
• Sector: Real Estate
• Sector Strength: 53
• Industry: REIT - Healthcare Facilities
• EPS (TTM): 0.06
• Shares Outstanding: 249,992,680
• 10 Day Avg. Volume: 603,392
• 30 Day Avg. Volume: 590,183
• PEG Ratio: 0.26
• Price to Book (P/B): 0.70
• Price to Sales (P/S): 2.37
• P/FCF Ratio: 12.79
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: C$5.52
• Price Target Upside: -3.52% Downside
• Rating Consensus: Hold
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 54 Neutral
• Price Target: C$6.00 ▲(4.90% Upside)

The overall stock score of 54 reflects significant financial challenges, including declining revenues and high leverage. Technical indicators suggest a bearish trend, while the valuation is moderately attractive due to a high dividend yield. The lack of earnings call data and notable corporate events limits additional insights.

Positive Factors

Stable, lease-driven revenue model

Long-term leases with healthcare operators produce predictable, recurring rental cash flows that support distribution stability and capital planning. For a healthcare REIT, multi-year contracts reduce vacancy and turnover risk, underpinning durable income even through economic cycles.

Geographic diversification

Exposure across multiple developed markets reduces single-country regulatory and demand risk, broadens tenant mix, and smooths localized downturns. Geographic spread supports portfolio resilience and long-term occupancy stability for essential healthcare assets.

Efficient cash generation vs. accounting profits

A strong free cash flow to net income ratio implies underlying asset cash productivity despite accounting losses, aiding debt service and potential distributions. Durable operating cash conversion helps weather revenue volatility and supports reinvestment or selective deleveraging.

Negative Factors

High financial leverage

Material leverage increases refinancing, interest-rate, and covenant risk over the medium term, constraining flexibility for acquisitions or capital spending. High debt burdens can amplify stress during occupancy or cash-flow shortfalls and limit strategic maneuverability.

Steep revenue and profitability decline

A sharp, sustained fall in revenue and persistent negative margins erode internal funding for maintenance and growth. Over several quarters this can reduce asset quality, force asset sales, or pressure distributions, undermining the REIT's long-term income profile and investor confidence.

Weak cash flow coverage and negative FCF growth

Negative free cash flow growth and poor operating cash coverage suggest limited ability to fund capex, tenant improvements, or debt maturities internally. Over months this raises refinancing and liquidity risk, potentially forcing asset disposals or dividend reductions.

NorthWest Healthcare Properties REIT Business Overview & Revenue Model

Company Description

NorthWest Healthcare Properties Real Estate Investment Trust (TSX: NWH.UN) (NorthWest) is an unincorporated, open-ended real estate investment trust established under the laws of the Province of Ontario. As at September 30, 2020, the REIT provides investors with access to a portfolio of high quality international healthcare real estate infrastructure comprised of interests in a diversified portfolio of 190 income-producing properties and 15.4 million square feet of gross leasable area located throughout major markets in Canada, Brazil, Europe, Australia and New Zealand. The REIT's portfolio of medical office buildings, clinics, and hospitals is characterized by long term indexed leases and stable occupancies. With a fully integrated and aligned senior management team, the REIT leverages over 200 professionals across nine offices in 5 countries to serve as a long-term real estate partner to leading healthcare operators.

How the Company Makes Money

NorthWest Healthcare Properties REIT generates revenue primarily through rental income from its portfolio of healthcare properties. The company enters into long-term lease agreements with healthcare operators, which provide consistent cash flow. Additionally, NWH.UN may earn income through property management services and development projects. The REIT benefits from its focus on the healthcare sector, which tends to be more resilient during economic downturns, as demand for medical services remains relatively stable. Strategic partnerships with healthcare providers and institutions further enhance its revenue opportunities, allowing for expansion and diversification of its asset base.

NorthWest Healthcare Properties REIT Financial Statement Overview

Summary

NorthWest Healthcare Properties REIT faces challenges with declining revenues and profitability, high leverage, and constrained cash flows. Despite efficient cash generation relative to net income, the high debt levels and negative profitability metrics highlight potential financial risks.

Income Statement

The income statement shows declining revenue and profitability. The TTM data indicates a significant revenue decline of 66.7%, and the net profit margin is negative, reflecting ongoing losses. Historical data shows a trend of decreasing revenue growth and profitability, with EBIT and EBITDA margins also turning negative in recent years.

Balance Sheet

The balance sheet reveals a high debt-to-equity ratio of 1.81 in the TTM, indicating significant leverage. Return on equity is negative, suggesting inefficiencies in generating returns from equity. The equity ratio is moderate, but the increasing debt levels pose a risk to financial stability.

Cash Flow

Cash flow analysis shows a decline in free cash flow growth, with a negative growth rate in the TTM. However, the free cash flow to net income ratio is strong, indicating efficient cash generation relative to net income. Operating cash flow coverage is low, suggesting potential liquidity constraints.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	421.65M	462.40M	508.00M	448.83M	374.61M	373.82M
Gross Profit	314.16M	349.41M	386.62M	348.35M	306.06M	297.46M
EBITDA	207.50M	-168.34M	-263.91M	359.82M	358.40M	393.93M
Net Income	49.70M	-299.76M	-347.69M	125.63M	611.84M	314.36M
Balance Sheet
Total Assets	6.04B	6.05B	7.63B	8.51B	7.06B	5.85B
Cash, Cash Equivalents and Short-Term Investments	77.43M	51.25M	72.03M	87.99M	62.70M	144.11M
Total Debt	2.91B	3.01B	3.92B	3.68B	2.94B	2.79B
Total Liabilities	3.40B	3.47B	4.54B	4.77B	3.54B	3.31B
Stockholders Equity	1.62B	1.56B	1.99B	2.46B	2.39B	1.64B
Cash Flow
Free Cash Flow	123.02M	85.76M	104.67M	223.56M	124.48M	188.53M
Operating Cash Flow	124.80M	86.64M	104.77M	224.18M	124.97M	188.77M
Investing Cash Flow	243.11M	540.08M	194.27M	-1.36B	-914.83M	-628.53M
Financing Cash Flow	-357.17M	-650.57M	-318.50M	1.18B	711.19M	397.61M

NorthWest Healthcare Properties REIT Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 5.72
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:NWH.UN, the sentiment is Positive. The current price of 5.72 is above the 20-day moving average (MA) of 5.56, above the 50-day MA of 5.33, and above the 200-day MA of 4.93, indicating a bullish trend. The MACD of 0.11 indicates Negative momentum. The RSI at 68.22 is Neutral, neither overbought nor oversold. The STOCH value of 49.62 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:NWH.UN.

NorthWest Healthcare Properties REIT Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
CSH.UN	65 Neutral	C$6.46B	213.97	1.99%	3.00%	28.05%	662.10%
NWH.UN	54 Neutral	C$1.40B	27.99	3.01%	7.06%	-13.30%	―

NorthWest Healthcare Properties REIT Corporate Events

NorthWest Healthcare Properties REIT Sets Date for Q4 and 2025 Year-End Results

NorthWest Healthcare Properties REIT announced it will report its financial results for the fourth quarter and full year ended December 31, 2025, after markets close on February 24, 2026, followed by a conference call and audio webcast on February 25, 2026, to discuss the results. The scheduled disclosure signals an upcoming update on the performance of its international healthcare real estate portfolio, an event that will be closely watched by investors and other stakeholders tracking the REIT’s operating stability and strategic positioning in the global healthcare property market.

The most recent analyst rating on ($TSE:NWH.UN) stock is a Hold with a C$6.00 price target. To see the full list of analyst forecasts on NorthWest Healthcare Properties REIT stock, see the TSE:NWH.UN Stock Forecast page.

NorthWest Healthcare Properties REIT Declares January 2026 Monthly Distribution

NorthWest Healthcare Properties REIT has declared a cash distribution of $0.03 per unit for January 2026, equivalent to $0.36 per unit on an annualized basis, payable on February 13, 2026 to unitholders of record as of January 30, 2026. The announcement underscores the REIT’s ongoing income-focused strategy, signaling continued cash returns to investors supported by its diversified, globally distributed portfolio of healthcare real estate assets and long-term leased properties, which collectively underpin distribution stability for unitholders amid a specialized healthcare infrastructure niche.

The most recent analyst rating on ($TSE:NWH.UN) stock is a Hold with a C$5.00 price target. To see the full list of analyst forecasts on NorthWest Healthcare Properties REIT stock, see the TSE:NWH.UN Stock Forecast page.

NorthWest Healthcare Properties REIT Completes Vital Management Internalization and Bolsters Balance Sheet

NorthWest Healthcare Properties REIT has completed the internalization of the management of Vital Healthcare Property Trust, a transaction that was first announced in November and has now received all necessary external and regulatory approvals. The deal provides NorthWest with NZ$214 million in cash proceeds, which the REIT plans to direct primarily toward debt reduction and other capital allocation priorities aimed at strengthening its balance sheet and supporting long-term value for unitholders, while it remains Vital’s largest unitholder with an approximately 24% stake.

The most recent analyst rating on ($TSE:NWH.UN) stock is a Hold with a C$5.00 price target. To see the full list of analyst forecasts on NorthWest Healthcare Properties REIT stock, see the TSE:NWH.UN Stock Forecast page.

Northwest Healthcare Properties REIT Declares December 2025 Distribution

Northwest Healthcare Properties REIT announced a distribution of $0.03 per unit for December 2025, equating to $0.36 annually, payable on January 15, 2026. This decision reflects the REIT’s ongoing commitment to providing stable returns to its unitholders, leveraging its extensive portfolio of healthcare properties across major global markets.

The most recent analyst rating on ($TSE:NWH.UN) stock is a Hold with a C$5.50 price target. To see the full list of analyst forecasts on NorthWest Healthcare Properties REIT stock, see the TSE:NWH.UN Stock Forecast page.

Northwest Healthcare Properties REIT Declares November 2025 Distribution

Northwest Healthcare Properties REIT announced a distribution of $0.03 per unit for November 2025, equating to $0.36 per unit annually, payable on December 15, 2025. This announcement reflects the company’s ongoing commitment to providing stable returns to its unitholders, leveraging its diversified portfolio of healthcare properties across major global markets.

The most recent analyst rating on ($TSE:NWH.UN) stock is a Hold with a C$6.00 price target. To see the full list of analyst forecasts on NorthWest Healthcare Properties REIT stock, see the TSE:NWH.UN Stock Forecast page.

Northwest Healthcare Properties REIT Reports Strong Q3 2025 Results and Strategic Advancements

Northwest Healthcare Properties REIT reported strong Q3 2025 results, with notable advancements in its portfolio strategy. The company achieved a net income of $31.2 million, a significant improvement from a net loss in the previous year, driven by lower interest expenses and positive fair value adjustments. The REIT’s strategic moves include internalizing Vital and exploring alternatives for its European portfolio to reduce costs and simplify operations. Despite a slight decrease in revenue due to asset dispositions, the REIT saw a 4.4% increase in Same Property Net Operating Income, reflecting steady growth across all regions. The REIT’s leverage decreased, and operating performance remained robust with a high occupancy rate. Additionally, the REIT’s second-largest tenant, Healthscope, has resolved its rent deferral arrangement, and all outstanding rents have been paid.

The most recent analyst rating on ($TSE:NWH.UN) stock is a Hold with a C$5.00 price target. To see the full list of analyst forecasts on NorthWest Healthcare Properties REIT stock, see the TSE:NWH.UN Stock Forecast page.

Northwest Healthcare REIT to Internalize Vital’s Management for NZ$214 Million

Northwest Healthcare Properties REIT has announced a conditional agreement to internalize management rights at Vital Healthcare Property Trust for NZ$214 million. This strategic move is expected to deliver operational and financial benefits, aligning with Northwest’s strategy to simplify its business and reallocate capital to North America. The transaction will enhance returns for unitholders and strengthen Vital’s position in the Australasian healthcare infrastructure market. Northwest plans to use the proceeds to reduce leverage and pursue growth initiatives, while maintaining a significant equity interest in Vital post-capital raise. The internalization is anticipated to complete by December 31, 2025, subject to regulatory approvals and a successful capital raise by Vital.

The most recent analyst rating on ($TSE:NWH.UN) stock is a Hold with a C$5.00 price target. To see the full list of analyst forecasts on NorthWest Healthcare Properties REIT stock, see the TSE:NWH.UN Stock Forecast page.