Hi Shail,
I have been long Northwest for a couple of years now and believe it is an excellent REIT. It is rapidly becoming a preferred healthcare partner as it is proving to be a very good operator. What I like about NHW.UN is that it is focused on acute care - not long-term or home care. This is more insulated and it is a leading provider in this area.
The only drawback is that because the company has grown its asset base at a fast clip, it has a high debt load. So that makes the dividend less 'safe' if you will. Not that it is in any danger, but that high debt load is certainly a drawback for the company. ON the bright side, it is very focused on reducing that debt load and it is having success in doing so. It is seeing strong rent collections throughout the pandemic and its payout ratio as a percentage of AFFO is 87% - high, but sustainable.
Overall, it is in a strong position to growth its asset base and while i don't expect the dividend to jump in any meaningful way here, it provides a nice attractive yield.
Mat