The Globe and Mail reports in its Wednesday, Sept. 27, edition that National Bank Financial analyst Tal Woolley has reaffirmed his "sector perform" recommendation for Northwest Healthcare Properties REIT. The Globe's David Leeder writes in the Eye On Equities column that Mr. Woolley gave his unit target a $1.50 haircut to $5.50. Analysts on average target the units at $7.57. The Globe says Mr. Woolley believes Northwest Healthcare is "taking steps in the right direction" to reduce its cost of debt and equity. He warns, however, that further action is required. Last week, Northwest reduced to its monthly dividend by 55 per cent. It also updated its strategic review, which now includes a full or partial sale of its Brazil and U.S. portfolios. On Monday, the Globe reported that an activist fund manager had launched a campaign to acquire 14 hospitals in Britain. Mr. Woolley says in a note: "While institutional investors largely expected a distribution cut at some point, the more surprising incremental information released was the 16 cents to 20 cents per unit FFO hit from expiring rate caps. The degree to which these caps were deep in the money was more than expected, making their expiry more impactful."