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

Shares of NewRiver REIT plc (LON:NRR) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as GBX 82.20 and last traded at GBX 81.50, with a volume of 8624180 shares. The stock had previously closed at GBX 80.80.

Wall Street Analysts Forecast Growth

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

NewRiver REIT Stock Up 0.9%

The company’s 50 day moving average price is GBX 77.99 and its two-hundred day moving average price is GBX 75.22. The company has a quick ratio of 3.00, a current ratio of 73.44 and a debt-to-equity ratio of 113.05. The stock has a market cap of £354.02 million, a P/E ratio of 11.58, a P/E/G ratio of -3.14 and a beta of 0.62.

NewRiver REIT (LON:NRR) last announced its quarterly earnings results on Tuesday, June 2nd. The real estate investment trust reported GBX 7.10 earnings per share (EPS) for the quarter. NewRiver REIT had a return on equity of 6.98% and a net margin of 24.37%.The firm had revenue of £131 million during the quarter. As a group, research analysts expect 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.