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Home / Support and Resistance / NewRiver REIT (NRR.L) 14-02-20

This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.

NewRiver REIT (NRR.L) 14-02-20

NewRiver REIT (NRR.L): will it break the 189p key support level, or bounce to highs of 217p (+14%)?

 

  • Currently trading around the 189p support. The current price is 190.4p (at time of writing).
  • Support levels like these are often used by traders to assist with decision making.
  • Strong support levels often suggest that there may be ‘hot money’ looking to buy at the key level. Of course, valuations can change.
  • Will the share price rally again to recent highs of 217p? (+14%).
  • Shares -22% from 12-month highs; +29% from 12 month lows.

Latest News

28 Jan:  Allan Lockhart, Chief Executive Officer, sold 148,750 shares within the firm on the 27th January 2020 at a price of 190p. This Director currently has 256,883 shares.

22 Jan:  NewRiver REIT, the real estate investor,  announced that footfall through its shopping centres declined 1.9% within Q3, but still beat the UK’s benchmark figures.

22 Jan:  Liberum Capital reiterates its buy rating on NewRiver Retail Ltd (NRR) and reduced the target price to 240p (from 250p).

17 Dec:  Peel Hunt reiterates its buy rating on NewRiver Retail Ltd (NRR) and increased the target price to 225p (from 200p).

10 Dec:  Barclays Capital reiterates its equal weight rating on NewRiver Retail Ltd (NRR) and reduced the target price to 200p (from 215p).

03 Dec:  NewRiver REIT announced it had taken over the pub group Bravo Inns for £17.9m, representing an earnings multiple of 6.8.

02 Dec:  NewRiver REIT announced it had concluded the takeover of Sprucefield retail park in Northern Ireland for £40m (purchased from Intu Properties).

Source: Bloomberg, Reuters, Alpha Terminal, FT, DJ Newswires

 

Click to enlarge

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