NewRiver REIT (LON:NRR) Reaches New 1-Year High – Time to Buy?

NewRiver REIT plc (LON:NRR)’s stock price reached a new 52-week high during trading on Thursday . The stock traded as high as GBX 82.20 and last traded at GBX 81.50, with a volume of 8624180 shares changing hands. The stock had previously closed at GBX 80.80.

Analysts Set New Price Targets

NRR has been the subject of a number of recent research reports. Berenberg Bank reiterated a “buy” rating and issued a GBX 98 target price on shares of NewRiver REIT in a research note on Tuesday, June 2nd. Jefferies Financial Group reissued a “buy” rating and set a GBX 96 price target on shares of NewRiver REIT in a research report on Friday, April 17th. Shore Capital Group restated a “house stock” rating on shares of NewRiver REIT in a report on Tuesday, June 23rd. Finally, Panmure Gordon reaffirmed a “buy” rating and issued a GBX 100 price objective on shares of NewRiver REIT in a research report on Friday, May 1st. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of GBX 98.

NewRiver REIT Trading Up 0.9%

The business’s 50-day simple moving average is GBX 77.72 and its two-hundred day simple moving average is GBX 75.08. The company has a current ratio of 73.44, a quick ratio of 3.00 and a debt-to-equity ratio of 113.05. The company has a market capitalization of £351.00 million, a PE ratio of 11.48, a PEG ratio of -3.14 and a beta of 0.62.

NewRiver REIT (LON:NRR) last released its quarterly earnings results on Tuesday, June 2nd. The real estate investment trust reported GBX 7.10 EPS for the quarter. The business had revenue of £131 million for the quarter. NewRiver REIT had a return on equity of 6.98% and a net margin of 24.37%. On average, analysts predict that NewRiver REIT plc will post 7.4795268 earnings per share for the current year.

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.