NewRiver REIT Executes Strategic Share Buyback

An announcement from NewRiver REIT ( (GB:NRR) ) is now available.

NewRiver REIT has repurchased 47,708,400 of its ordinary shares from Growthpoint Properties Limited, representing about 10% of its issued share capital, for approximately £35.8 million. This buyback, deemed beneficial for shareholders, aims to enhance the company’s financial metrics and reflects the board’s belief that the current share price undervalues the company. Growthpoint has fully exited its shareholding in NewRiver, impacting the company’s shareholder structure.

The most recent analyst rating on (GB:NRR) stock is a Buy with a £90.00 price target. To see the full list of analyst forecasts on NewRiver REIT stock, see the GB:NRR Stock Forecast page.

Spark’s Take on GB:NRR Stock

According to Spark, TipRanks’ AI Analyst, GB:NRR is a Neutral.

NewRiver REIT’s strong financial performance and strategic corporate events are significant positives, supported by an attractive valuation. However, technical indicators suggest caution due to bearish momentum. High leverage remains a risk factor.

To see Spark’s full report on GB:NRR stock, click here.

More about NewRiver REIT

NewRiver REIT plc is a leading Real Estate Investment Trust specializing in acquiring, managing, and developing resilient retail assets across the UK. The company boasts a £0.8 billion portfolio, including 27 community shopping centers and 13 retail parks, primarily focused on essential goods and services. NewRiver also manages additional assets on behalf of Capital Partners, bringing its total Assets Under Management to £2.4 billion. The company’s objective is to maintain a robust retail portfolio centered on retail parks, core shopping centers, and regeneration opportunities to ensure long-term income returns and capital growth.

Average Trading Volume: 864,649

Technical Sentiment Signal: Sell

Current Market Cap: £335.1M

See more insights into NRR stock on TipRanks’ Stock Analysis page.