NewRiver REIT (LON:NRR) Sets New 12-Month High – Here’s Why

NewRiver REIT plc (LON:NRR)’s stock price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as GBX 85 and last traded at GBX 81.90, with a volume of 305237 shares trading hands. The stock had previously closed at GBX 82.20.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on NRR shares. Berenberg Bank restated a “buy” rating and set a GBX 98 target price on shares of NewRiver REIT in a research report on Tuesday, June 2nd. Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 92 price target on shares of NewRiver REIT in a report on Wednesday, July 29th. Shore Capital Group reiterated a “house stock” rating on shares of NewRiver REIT in a research report on Tuesday, July 28th. Finally, Panmure Gordon reissued a “buy” rating and set a GBX 100 price objective on shares of NewRiver REIT in a report on Friday, May 1st. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of GBX 96.67.

NewRiver REIT Stock Down 1.1%

The stock’s fifty day moving average price is GBX 79.01 and its 200 day moving average price is GBX 76. 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 stock has a market cap of £348.85 million, a P/E ratio of 11.41, a price-to-earnings-growth ratio of -3.14 and a beta of 0.62.

NewRiver REIT (LON:NRR) last posted its quarterly earnings data on Tuesday, June 2nd. The real estate investment trust reported GBX 7.10 earnings per share (EPS) for the quarter. NewRiver REIT had a net margin of 24.37% and a return on equity of 6.98%. The company had revenue of £131 million during the quarter. As a group, research analysts forecast that NewRiver REIT plc will post 7.4795268 earnings per share for the current fiscal 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.