Hey there,
I am also long NWH - simply because it provides unique exposure to the health care industry. I wouldn't worry too much about the price right now consider most all REITs have had a very difficult year. The rapid pace of rate hikes impacts high CAPEX industries like REITs and it is an sector-wide issue - not specific to NWH. That said, NWH had a tough Q3 which amplied its losses and it ended up underperforming the REIT industry ( before Q3 it was outperforming).
In terms of dilution, NWH has had at the market programs for a while now. The recent news is simply a renewal of their existing program. Many REITs will use debt along with the issuance of new units when investing in new properties. In this environment, it may actually be more prudent to use equity than to take on high interest rates to fund expansion. It hasn't issue new shares in almost a year, which for NWH is actually one of the longest periods of time where its share count remained stable.
As for insider selling. I see nothing to be concerned about. There are only 2 insider sells. The one by Krizan is inline with what they have done the past few yeas which is dispose of a large amount at this time of year. Likely cashing out as a form of payment annually. As for Paul Dalla Lana and NorthWest Value Partners, well there is so much trading activity here since NWH is a subsidiary of NWVP of which Paul is President. So there are always consistent buys and sells. I wouldn't worry too much about that. If we started to see all the other insiders start to cash out, one might pay a little more attention but when its one person like this, I don't worry to much.
My biggest issue with the company is debt load, and that has been my issue for some time now and the fact the distribution makes up more than 100% of FFO through the first nine months of the year. I am watching it closely, but don't have any intentions to sell at the moment.
Mat