TSX:NWH.DB.G - Post by User
Post by
hawk35on Sep 25, 2023 10:42am
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Post# 35652121
Comments from BMO
Comments from BMO Following
NorthWest Healthcare Properties REIT’s (
NWH-UN-T -12.07%
decrease) late
Friday announcement of a 55-per-cent distribution cut and an updated to its strategic review, BMO’s Michael Markidis reduced his target for its units to $6 from $6.50 with a “market perform” rating.
“We believe the distribution adjustment is the right thing to do, however, the new monthly payment implies an annualized yield of only 5.9 per cent,” he said. “Moreover, we believe the commentary within the press release supports our view that the probability of an en-bloc sale is low. Accordingly, we believe the stock could be under pressure in the short-term.”