BMO Capital analyst Michael Markidis reiterated a Hold rating on NorthWest Healthcare Properties REIT (NWHUF – Research Report) yesterday and set a price target of C$5.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Michael Markidis has given his Hold rating due to a combination of factors affecting NorthWest Healthcare Properties REIT. The company’s recent financial results were largely in line with expectations, but were negatively impacted by debt repayment charges. Additionally, the ongoing search for a new CEO and the uncertainty surrounding this leadership change contribute to a cautious outlook.
Another significant concern is the financial situation of Healthscope, one of NorthWest’s major tenants. The REIT has agreed to provide Healthscope with a second round of rent deferrals, which indicates potential financial strain. Furthermore, while NorthWest has made progress in stabilizing its capital structure and reducing risk, Markidis believes more improvements are necessary before a more positive rating can be justified. These factors collectively support the decision to maintain a Hold rating.
Based on the recent corporate insider activity of 26 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of NWHUF in relation to earlier this year.