NewRiver REIT (LON:NRR) Shares Pass Below 200 Day Moving Average - Here's What Happened

Key Points

• NewRiver REIT's stock dipped below its 200-day moving average, trading at GBX 70 ($0.95), down from a moving average of GBX 72.97 ($0.99).
• Recent analyst reports reflect a consensus rating of "Buy" for NewRiver REIT, with a target price of GBX 90 from Jefferies Financial Group.
• Insider Will Hobman sold 66,339 shares at an average price of GBX 70, representing 2.51% of the stock owned by insiders.

NewRiver REIT plc (LON:NRR - Get Free Report) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 72.97 ($0.99) and traded as low as GBX 69.20 ($0.94). NewRiver REIT shares last traded at GBX 70 ($0.95), with a volume of 807,988 shares traded.

Analysts Set New Price Targets

Several equities research analysts have issued reports on NRR shares. Jefferies Financial Group reaffirmed a "buy" rating and set a GBX 90 price target on shares of NewRiver REIT in a research note on Thursday, September 11th. Shore Capital reiterated a "house stock" rating on shares of NewRiver REIT in a research report on Thursday, July 31st. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of GBX 90.

NewRiver REIT Price Performance

The stock has a market cap of £304.59 million, a PE ratio of 1,134.92, a PEG ratio of -3.14 and a beta of 1.10. The business's 50-day simple moving average is GBX 71.83 and its 200-day simple moving average is GBX 73.12. The company has a quick ratio of 3.00, a current ratio of 5.48 and a debt-to-equity ratio of 90.77.

Insider Transactions at NewRiver REIT

In other NewRiver REIT news, insider Will Hobman sold 66,339 shares of the company's stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of GBX 70, for a total transaction of £46,437.30. 2.51% of the stock is currently owned by corporate insiders.

NewRiver REIT Company Profile

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.