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Investors should consider a stock’s total return potential before buying. Total return is the complete return of an investment over a given time period. It includes all capital gains and any dividends paid.

Not every stock is a buy. Sometimes, a company’s fundamentals deteriorate. Other times, a stock can become overvalued. These conditions can lead to low, or even negative returns, which investors should try to avoid.

With this in mind, the following 3 high dividend stocks are currently rated a sell by Sure Dividend, due to fundamental deterioration or overvaluation.

NorthWest Healthcare Properties (NWHUF)

Northwest Healthcare Properties is a globally diversified healthcare real estate investor and asset manager. Its footprint spans 172 income-producing properties across Canada, the U.S., Brazil, Europe, and Australasia.

The portfolio totals over 16 million square feet of gross leasable area, anchored by long-term, inflation-linked leases to high-quality healthcare operators.

The REIT also has a sizeable asset management business, overseeing $8.8 billion in AUM, of which $1.8 billion is owned directly and $4.0 billion managed through joint ventures. The REIT pays distributions on a monthly basis and reports its financials in CAD. All figures in this report have been converted to USD unless otherwise noted.

On May 14th, 2025, Northwest Healthcare REIT posted its Q1 results for the period ending March 31st, 2025. Revenue came in at $80 million, down 18% year-over-year due to significant asset sales.

Net operating income came in at $55.5 million, with occupancy holding at 96.4% and a 13.6-year WALE, supported by inflation-linked leases covering over 96% of rent.

Q1 FFO was $0.05 per unit, down from $0.08 last year, reflecting the smaller portfolio and ongoing deleveraging. During the quarter, the REIT sold $33.8 million of assets and used proceeds to repay over $478 million of debt, lowering its average interest rate to 5.33%.

Timbercreek Financial Corp. (TBCRF)

Timbercreek Financial is a Canadian non-bank lender specializing in shorter-duration, structured financing solutions for commercial real estate investors.

The company provides primarily first-mortgage loans for income-producing properties, including multi-residential, retail, industrial, and office assets.

Its loans are typically used for acquisition, redevelopment, or transitional financing, and are often repaid through term financing or asset sales.

Timbercreek’s portfolio is 100% commercial real estate-focused and highly urban, with about 92% of capital invested in Ontario, British Columbia, Quebec, and Alberta. Its lending model emphasizes conservative loan-to-value ratios (63.3% as of year-end 2024) and floating-rate loans with rate floors, providing downside protection and interest rate sensitivity.

All figures in this report have been converted in USD unless otherwise noted.

On May 5th, 2025, Timbercreek Financial reported its Q1 results for the period ending March 31st, 2025. Distributable income for the quarter was $11.1 million, or $0.14 per share, compared to USD $11.4 million, or $0.14 per share, in Q1 2024.

This reflected a slightly lower average portfolio yield and a modest increase in expected credit loss, offset by higher average portfolio balances.

Northland Power (NPIFF)

Northland Power develops, builds, owns, and operates power generation assets, including offshore and onshore wind, solar, natural gas, and battery energy storage systems.

It also supplies energy through a regulated utility in Colombia. Northland manages 3.2 GW of gross operating capacity and has 2.4 GW in active construction across three projects: Hai Long (Taiwan), Baltic Power (Poland), and Oneida (Canada), with a broader development pipeline totaling about 10 GW.

Northland reports in CAD. All figures have been converted to USD unless otherwise noted. On May 13th, 2025, Northland Power reported its Q1 results for the period ending March 31st, 2025. Revenue declined 14% year-over-year to about $467 million, primarily due to exceptionally low wind conditions in Europe and a strong wind quarter the year prior, partially offset by higher contributions from North American onshore wind and natural gas assets.

Adjusted EBITDA fell 20% to approximately $260 million, reflecting weaker offshore wind production despite continued operational discipline. Net income fell to $80 million from $107 million a year earlier, driven by the same headwinds in offshore generation and derivative fair value changes.

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