NewRiver REIT (LON:NRR) Stock Crosses Above Two Hundred Day Moving Average – What’s Next?

Shares of NewRiver REIT plc (LON:NRR) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 72.17 and traded as high as GBX 77.10. NewRiver REIT shares last traded at GBX 76.66, with a volume of 1,158,674 shares traded.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Berenberg Bank reduced their price target on shares of NewRiver REIT from GBX 128 to GBX 98 and set a “buy” rating for the company in a research note on Tuesday, January 27th. Shore Capital Group reissued a “house stock” rating on shares of NewRiver REIT in a report on Friday, May 1st. Jefferies Financial Group restated a “buy” rating and issued a GBX 96 target price on shares of NewRiver REIT in a research report on Friday, April 17th. Finally, Panmure Gordon reaffirmed a “buy” rating and set a GBX 100 price target on shares of NewRiver REIT in a research note on Friday, May 1st. Three analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of GBX 98.

NewRiver REIT Price Performance

The firm has a market capitalization of £330.17 million, a P/E ratio of 11.27, a P/E/G ratio of -3.14 and a beta of 0.62. The business’s fifty day moving average is GBX 74.41 and its 200 day moving average is GBX 72.17. The company has a current ratio of 1.94, a quick ratio of 3.00 and a debt-to-equity ratio of 113.22.

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.