12:58 PM EDT, 05/27/2024 (MT Newswires) -- BMO is increasing its target on Northwest Healthcare REIT to $5.25 (from $5) and maintaining its Market Perform rating following the REIT's first quarter results.

According to analyst Michael Markidis, operating performance remains solid. Some progress has also been made addressing the REIT's capital structure (high leverage; short average term to maturity); however, "a significant amount of heavy lifting remains, in our view."

There was no update regarding the strategic review that was announced last August. Conclusion of this initiative is a potential catalyst, Markidis said.

Price: 5.15, Change: +0.04, Percent Change: +0.88