I’m hoping for a return to progress for the FTSE 250 in 2025 after a disappointing few years. However which shares do I believe may lead the mid-cap index? My eyes have fallen on these three.

Healthcare earnings

I believe 2025 could possibly be the yr when a number of the FTSE 250’s undervalued actual property funding trusts (REITs) may make a comeback. Major Well being Properties (LSE: PHP) is one, after its share price ended 2024 on a little bit of a slide.

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The corporate owns healthcare services that it rents out largely to GPs, many within the NHS. With comparatively dependable rental earnings, success doesn’t rely on property valuations.

Unsure valuation

I believe its belongings look good anyway. On the 2024 interim, adjusted internet tangible belongings per share stood at 105p. The share price is simply 89p on the time of writing.

That’s a non-standard accounting measure, and property valuations have been risky, so there’s danger there.

However with sturdy earnings progress forecast for 2025, and a ahead dividend yield of 8.2%, I believe this belief may deserve a better score in 2025.

Low-cost TV

The primary half of 2024 made it seem to be an ITV (LSE: ITV) restoration was on, although it cooled off. We’re an honest 12-month achieve of 17%, however I nonetheless assume the shares could possibly be too low-cost.

The powerful economic system is placing the squeeze on promoting spend. However we simply heard that December inflation was down, which hopefully bodes effectively.

The agency’s Q3 replace spoke of income being impacted by the phasing of deliveries and the 2023 writers’ and actors’ strike within the US. And that gave the share price a success on the day.

Ahead, not again

ITV nonetheless mentioned “We stay on monitor to ship at the least £750 million of digital revenues in 2026“. And it sees solely a small fall in 2024 ITVX streaming income.

We have now a ahead dividend yield of seven%, with an anticipated FY 2024 price-to-earnings (P/E) ratio of simply 9.

There’s an earnings fall forecast for 2025, which may preserve the shares down. But when we see early indicators of the expansion predicted for 2026, I believe ITV may beat the FTSE 250 this yr.

Plastic, unbelievable

At polymer specialist Victrex (LSE: VCT), seeing a five-year share price fall of 57% and a trailing P/E of fifty made me pause for breath.

Wanting nearer although, I see issues I like, together with a forecast 6.8% dividend yield.

After a couple of years of falling earnings, forecasts present a return to progress beginning with a lift in 2025. They put the ahead P/E at 17, dropping as little as 11 by 2027.

Protecting moat

On these valuation measures, I believe we may have strong progress traits. However I wish to see a aggressive benefit to again that up.

Victrex makes high-performance polymers for safety-critical makes use of, and a variety of them are patented merchandise. That appears like a security moat.

The largest danger for me personally is that I haven’t researched the corporate correctly but. However I believe traders searching for 2025 winners ought to contemplate doing so.