NewRiver REIT (LON:NRR) Shares Pass Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• NewRiver REIT stock has surpassed its two hundred day moving average, trading at GBX 73.50 ($1.00), with a recent high of GBX 74.60 ($1.01).
• The company has a market capitalization of £350.65 million and a price-to-earnings ratio of 76.54, indicating a high valuation compared to earnings.
• Shore Capital has reaffirmed a "house stock" rating for NewRiver REIT, suggesting a positive outlook among analysts.

NewRiver REIT plc (LON:NRR - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 73.08 ($0.98) and traded as high as GBX 74.60 ($1.00). NewRiver REIT shares last traded at GBX 73.50 ($0.99), with a volume of 311,978 shares trading hands.

Wall Street Analyst Weigh In

Separately, Shore Capital reissued a "house stock" rating on shares of NewRiver REIT in a research note on Thursday, July 31st.

NewRiver REIT Price Performance

The stock has a 50 day moving average price of GBX 72.97 and a two-hundred day moving average price of GBX 73.04. The company has a debt-to-equity ratio of 90.77, a quick ratio of 3.00 and a current ratio of 5.48. The company has a market capitalization of £351.13 million, a PE ratio of 76.65, a P/E/G ratio of -3.14 and a beta of 1.10.

NewRiver REIT (LON:NRR - Get Free Report) last posted its quarterly earnings results on Tuesday, June 3rd. The real estate investment trust reported GBX 6.30 earnings per share for the quarter. NewRiver REIT had a return on equity of 0.78% and a net margin of 4.16%. Equities analysts forecast 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.