NorthWest Healthcare downgraded to Market Perform at BMO Capital

BMO Capital analyst Michael Markidis downgraded NorthWest Healthcare Prop REIT to Market Perform from Outperform with a price target of C$7, down from C$10. The analyst cites the “unexpected announcement” of the company’s U.K. joint venture not proceeding for the downgrade. Despite the recent selloff, the heightened uncertainty surrounding NorthWest’s capital structure, liquidity, and distribution will likely be an overhang for the foreseeable future, the analyst tells investors in a research note.