NewRiver REIT (LON:NRR) Stock Passes Above 200-Day Moving Average – What’s Next?

NewRiver REIT plc (LON:NRR)’s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 71.32 and traded as high as GBX 79.50. NewRiver REIT shares last traded at GBX 78.58, with a volume of 1,194,920 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on NRR. Berenberg Bank decreased their price objective on shares of NewRiver REIT from GBX 128 to GBX 98 and set a “buy” rating on the stock in a research report on Tuesday, January 27th. Panmure Gordon reissued a “buy” rating and issued a GBX 100 target price on shares of NewRiver REIT in a research note on Tuesday, December 2nd. Finally, Shore Capital Group restated a “house stock” rating on shares of NewRiver REIT in a report on Wednesday, January 28th. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of GBX 97.67.

NewRiver REIT Stock Up 0.2%

The company’s fifty day simple moving average is GBX 71.66 and its 200 day simple moving average is GBX 71.32. The company has a current ratio of 5.48, a quick ratio of 3.00 and a debt-to-equity ratio of 90.77. The firm has a market capitalization of £342.99 million, a P/E ratio of 11.72, a price-to-earnings-growth ratio of -3.14 and a beta of 1.10.

NewRiver REIT (LON:NRR) last announced its earnings results on Tuesday, December 2nd. The real estate investment trust reported GBX 3.10 earnings per share for the quarter. NewRiver REIT had a net margin of 4.16% and a return on equity of 0.78%. Research analysts expect that NewRiver REIT plc will post 7.4795268 EPS for the current year.

Insider Activity at NewRiver REIT

In other NewRiver REIT news, insider Allan Lockhart sold 168,890 shares of NewRiver REIT stock in a transaction on Friday, December 12th. The stock was sold at an average price of GBX 68, for a total transaction of £114,845.20. 2.57% of the stock is currently owned by corporate insiders.

About NewRiver REIT

NewRiver is a leading Real Estate Investment Trust specialising in buying, managing and developing retail and leisure assets across the UK. Every day, our shopping centres, retail parks and pubs provide essential goods and services to their local communities.