Hi there,
This is a very complicated question. However, I always go back to why did you buy it in the first place. If the answer was the dividend and high yield, then yeah - you will likely want to sell given the big cut they made recently. The company had very high debt loads (still does) and it just wasn't sustainable to keep the distribution where it was.
For REITs, this can be both a good and bad thing. We've seen REITs do cuts and bounce back (like RioCan) and others (like True North) are still struggling under the weight of a distribution reset. At the end of the day, it'll all depend on how the company can execute on its strategy moving forward. NorthWest is unlike any other TSX-listed REIT given it is entirely focused on the healthcare industry (hospitals, outpatient clinics, etc) and is truly a global player.
In general, we don't expect REITs to come back materially until we know with certainty that rates are stabilized. That said, signs are pointing to that being the case, so we could potentially see a rebound if rates stay stagnet. We've already seen yield-focused products start to turn around the past month- still plenty of room to go but a slight hint at optimism.
To be honest, if you don't know why you bought NW in the first place, it is likely the company doesn't belong in your portfolio . If you do know, and the investment thesis remains, there is no need to rush and sell at lows. The second factor to consider, can you redeploy the money elsewhere for bigger gains? For example, is there another REIT that you think will likely outperform NWH in the next little while - if yes, perhaps the money is best spent there instead.
As you can tell, many factors to consider here.
Mat