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REITs: Ever Changing, Ever Valuable
In recent years, specialized technology-adjacent property types such as towers, data centers and industrial have gained prominence in the real estate market due to changes in consumer behavior, technological advancements, and their critical role in supporting the modern economy. The REIT universe looks much different today, appropriately reflecting the changes that are happening all around us. REITs are not just constrained to malls and offices; quite the contrary, the REIT sector is a dynamic one, with exposure to both secular growth dynamics and sources of bulwark stability.

Data Center REITs: Physical Epicenter Of AI
Among the top-performing property sectors this year, the Data Center REIT rebound has been fueled by reports of "booming" demand for artificial intelligence ("AI") focused data center chips. Even before the Nvidia report, Data Center REITs were on the upswing in early 2023 after an impressive slate of earnings results showed improved pricing power and record-high occupancy rates. Ironically, this AI-wave comes just as Data Center REITs became a trendy “short” idea centered on a thesis of weak pricing power and competition from the "hyperscalers" - Amazon, Google, and Microsoft.

NRO: Looking Like A Value Now, But A Couple Things To Consider
Neuberger Berman Real Estate Securities Income Fund is currently trading at a substantial discount, making it more appealing for investors. The fund's distribution still seems unsustainable, suggesting further cuts could be in the cards, but any adjustment could see a muted reaction due to the discount. Caution should be exercised as the fund has filed an N-2, which could indicate a rights offering, potentially impacting the share price.

Important Warning For REIT Investors
A lot of investors appear to think that REITs will drop lower. They believe that their valuations aren't low enough. Do they have a point? We take a closer look and issue a warning to those REIT investors who are trying to time the market.

Inflation's Last Stand
U.S. equity markets finished broadly higher this past week after a critical slate of inflation data provided further evidence of a definitive cool-down in inflationary pressures. After narrowly snapping a three-week winning streak in the prior week, the S&P 500 advanced 0.8% this week, while the Mid-Cap 400 and Small-Cap 600 posted gains of over 1%.

Storage Wars
Storage REITs are the best-performing property sector this year after lagging in late 2022, lifted by surprisingly solid earnings results and a thawing of the previously icy-cold housing market. Storage demand is driven largely by housing activity – specifically, home sales and rental market turnover - and the recent moderation in mortgage rates has eased concern of a deepening housing recession.

NRO: High-Yielding Real Estate CEF Is Risky, Payout Unsustainable
NRO: High-Yielding Real Estate CEF Is Risky, Payout Unsustainable

Mall REITs: Only The Strong Shall Survive
With recent distress across office markets seizing the headlines, Mall REITs are no longer the "Problem Child" of the REIT sector, particularly after weaker players and lower-tier malls closed shop. Following three years of rental rate and occupancy declines, the supply-demand dynamic has recently favored retail landlords, rewarding many retail REITs with some long-elusive pricing power.

Cracks Emerge In Jobs Market
U.S. equity markets snapped a three-week winning streak while benchmark interest rates dipped to seven-month lows after a critical slate of employment data revealed some cracking in the long-resilient labor markets. Following its strongest weekly advance in five months, the S&P 500 finished fractionally lower this week, while the Mid-Cap 400 and Small-Cap 600 each posted steeper declines of over 2.5%.

Single-Family Rental REITs: Renting The American Dream
One of the best-performing property sectors this year, Single-Family Rental REITs have rebounded as the previously-sluggish U.S. housing sector has shown signs of life amid a moderation in mortgage rates. The dire predictions of a "hard landing" in rental markets have been rebuffed in recent months by steadying rental rates and strong occupancy trends seen across the major rent indexes.
NRO Financial details
NRO Financial Performance
Yearly Fundamentals Overview
Last date of statement is 2022-10-31
Metric | History | 2018-10-31 | 2019-10-31 | 2020-10-31 | 2021-10-31 | 2022-10-31 |
---|---|---|---|---|---|---|
Revenue per share | -0.17 | 1.33 | -1.49 | 1.77 | 0 | |
Net income per share | -0.2 | 1.3 | -1.51 | 1.75 | 0 | |
Operating cash flow per share | 1.07 | 0.48 | 1.64 | -0.14 | 0 | |
Free cash flow per share | 1.07 | 0.48 | 1.64 | -0.14 | 0 | |
Cash per share | 0 | 0 | 0 | 0 | 0 | |
Book value per share | 5.21 | 5.9 | 3.9 | 5.25 | 0 | |
Tangible book value per share | 5.21 | 5.9 | 3.9 | 5.25 | 0 | |
Share holders equity per share | 5.21 | 5.9 | 3.9 | 5.25 | 0 | |
Interest debt per share | 2.25 | 2.19 | 0.99 | 1.5 | 0 | |
Market cap | 216.16M | 263.6M | 175.12M | 238.94M | 0 | |
Enterprise value | 316.05M | 363.6M | 220.12M | 308.94M | 60M | |
P/E ratio | -23.45 | 4.29 | -2.45 | 2.88 | 0 | |
Price to sales ratio | -27.38 | 4.2 | -2.49 | 2.84 | 0 | |
POCF ratio | 4.38 | 11.67 | 2.25 | -36.72 | 0 | |
PFCF ratio | 4.38 | 11.67 | 2.25 | -36.72 | 0 | |
P/B Ratio | 0.9 | 0.95 | 0.95 | 0.96 | 0 | |
PTB ratio | 0.9 | 0.95 | 0.95 | 0.96 | 0 | |
EV to sales | -40.03 | 5.79 | -3.12 | 3.68 | -0.87 | |
Enterprise value over EBITDA | -58.41 | 5.6 | -3.17 | 3.67 | -0.88 | |
EV to operating cash flow | 6.4 | 16.1 | 2.83 | -47.48 | 2.17 | |
EV to free cash flow | 6.4 | 16.1 | 2.83 | -47.48 | 2.17 | |
Earnings yield | -0.04 | 0.23 | -0.41 | 0.35 | 0 | |
Free cash flow yield | 0.23 | 0.09 | 0.44 | -0.03 | 0 | |
Debt to equity | 0.42 | 0.37 | 0.25 | 0.28 | 0.38 | |
Debt to assets | 0.3 | 0.27 | 0.2 | 0.22 | 0.27 | |
Net debt to EBITDA | -18.46 | 1.54 | -0.65 | 0.83 | -0.88 | |
Current ratio | 1.44 | 0.12 | 1.65 | 1.73 | 2.83 | |
Interest coverage | -1.42 | 18.2 | -35.05 | 76 | -41.15 | |
Income quality | -5.36 | 0.37 | -1.09 | -0.08 | -0.39 | |
Dividend Yield | 0.12 | 0.09 | 0.13 | 0.08 | 0 | |
Payout ratio | -2.79 | 0.37 | -0.32 | 0.22 | -0.25 | |
Sales general and administrative to revenue | -0.16 | 0.02 | -0.01 | 0.01 | -0.02 | |
Research and developement to revenue | 0 | 0 | 0 | 0 | 0 | |
Intangibles to total assets | 0 | 0 | 0 | 0 | 0 | |
Capex to operating cash flow | 0 | 0 | 0 | 0 | 0 | |
Capex to revenue | 0 | 0 | 0 | 0 | 0 | |
Capex to depreciation | 0 | 0 | 0 | 0 | 0 | |
Stock based compensation to revenue | 0 | 0 | 0 | 0 | 0 | |
Graham number | 4.84 | 13.14 | 11.51 | 14.38 | 0 | |
ROIC | -0.02 | 0.17 | -0.3 | 0.26 | -0.31 | |
Return on tangible assets | -0.03 | 0.16 | -0.31 | 0.26 | -0.32 | |
Graham Net | -2.18 | -2.17 | -0.96 | -1.48 | 0 | |
Working capital | 108.99K | -2.11M | 99.62K | 107.56K | 287.76K | |
Tangible asset value | 240.11M | 278.76M | 184.53M | 249.02M | 161.13M | |
Net current asset value | -100.25M | -102.58M | -45.19M | -70.26M | -60.04M | |
Invested capital | 0.42 | 0.36 | 0.24 | 0.28 | 0.37 | |
Average receivables | 323.5K | 280.52K | 267.12K | 254.92K | 350.6K | |
Average payables | 1.03M | 1.32M | 1.27M | 151.33K | 152.94K | |
Average inventory | 0 | 0 | 0 | 0 | 0 | |
Days sales outstanding | -12.98 | 1.63 | -1.32 | 1.11 | -2.35 | |
Days payables outstanding | 0 | 0 | 0 | 0 | 0 | |
Days of inventory on hand | 0 | 0 | 0 | 0 | 0 | |
Receivables turnover | -28.11 | 224.03 | -277.3 | 328.45 | -155.13 | |
Payables turnover | 0 | 0 | 0 | 0 | 0 | |
Inventory turnover | 0 | 0 | 0 | 0 | 0 | |
ROE | -0.04 | 0.22 | -0.39 | 0.33 | -0.44 | |
Capex per share | 0 | 0 | 0 | 0 | 0 |
Quarterly Fundamentals Overview
Last date of statement is 2022-10-31 for Q4
Metric | History | 2020-10-31 | 2021-04-30 | 2021-10-31 | 2022-04-30 | 2022-10-31 |
---|---|---|---|---|---|---|
Revenue per share | 0 | 0 | 0 | 0 | 0 | |
Net income per share | 0 | 0 | 0 | 0 | 0 | |
Operating cash flow per share | 0 | 0 | 0 | 0 | 0 | |
Free cash flow per share | 0 | 0 | 0 | 0 | 0 | |
Cash per share | 0 | 0 | 0 | 0 | 0 | |
Book value per share | 0 | 0 | 0 | 0 | 0 | |
Tangible book value per share | 0 | 0 | 0 | 0 | 0 | |
Share holders equity per share | 0 | 0 | 0 | 0 | 0 | |
Interest debt per share | 0 | 0 | 0 | 0 | 0 | |
Market cap | 0 | 0 | 0 | 0 | 0 | |
Enterprise value | 45M | 60M | 70M | 70M | 60M | |
P/E ratio | 0 | 0 | 0 | 0 | 0 | |
Price to sales ratio | 0 | 0 | 0 | 0 | 0 | |
POCF ratio | 0 | 0 | 0 | 0 | 0 | |
PFCF ratio | 0 | 0 | 0 | 0 | 0 | |
P/B Ratio | 0 | 0 | 0 | 0 | 0 | |
PTB ratio | 0 | 0 | 0 | 0 | 0 | |
EV to sales | 0 | 0 | 0 | 0 | 0 | |
Enterprise value over EBITDA | 0 | 0 | 0 | 0 | 0 | |
EV to operating cash flow | 0 | 0 | 0 | 0 | 0 | |
EV to free cash flow | 0 | 0 | 0 | 0 | 0 | |
Earnings yield | 0 | 0 | 0 | 0 | 0 | |
Free cash flow yield | 0 | 0 | 0 | 0 | 0 | |
Debt to equity | 0.25 | 0.26 | 0.28 | 0.32 | 0.38 | |
Debt to assets | 0.2 | 0.21 | 0.22 | 0.24 | 0.27 | |
Net debt to EBITDA | 0 | 0 | 0 | 0 | 0 | |
Current ratio | 1.65 | 1.08 | 1.73 | 2.4 | 2.83 | |
Interest coverage | 0 | 0 | 0 | 0 | 0 | |
Income quality | 0 | 0 | 0 | 0 | 0 | |
Dividend Yield | 0 | 0 | 0 | 0 | 0 | |
Payout ratio | 0 | 0 | 0 | 0 | 0 | |
Sales general and administrative to revenue | 0 | 0 | 0 | 0 | 0 | |
Research and developement to revenue | 0 | 0 | 0 | 0 | 0 | |
Intangibles to total assets | 0 | 0 | 0 | 0 | 0 | |
Capex to operating cash flow | 0 | 0 | 0 | 0 | 0 | |
Capex to revenue | 0 | 0 | 0 | 0 | 0 | |
Capex to depreciation | 0 | 0 | 0 | 0 | 0 | |
Stock based compensation to revenue | 0 | 0 | 0 | 0 | 0 | |
Graham number | 0 | 0 | 0 | 0 | 0 | |
ROIC | 0 | 0 | 0 | 0 | 0 | |
Return on tangible assets | 0 | 0 | 0 | 0 | 0 | |
Graham Net | 0 | 0 | 0 | 0 | 0 | |
Working capital | 99.62K | 87.35K | 107.56K | 203.32K | 287.76K | |
Tangible asset value | 184.53M | 236.41M | 249.02M | 221.98M | 161.13M | |
Net current asset value | -45.19M | -61.21M | -70.26M | -70.08M | -60.04M | |
Invested capital | 0.24 | 0.26 | 0.28 | 0.32 | 0.37 | |
Average receivables | 226.93K | 239.39K | 240.28K | 302.27K | 397.07K | |
Average payables | 164.43K | 647.5K | 644.42K | 146.83K | 151.52K | |
Average inventory | 0 | 0 | 0 | 0 | 0 | |
Days sales outstanding | 0 | 0 | 0 | 0 | 0 | |
Days payables outstanding | 0 | 0 | 0 | 0 | 0 | |
Days of inventory on hand | 0 | 0 | 0 | 0 | 0 | |
Receivables turnover | 0 | 0 | 0 | 0 | 0 | |
Payables turnover | 0 | 0 | 0 | 0 | 0 | |
Inventory turnover | 0 | 0 | 0 | 0 | 0 | |
ROE | 0 | 0 | 0 | 0 | 0 | |
Capex per share | 0 | 0 | 0 | 0 | 0 |
NRO Frequently Asked Questions
What is Neuberger Berman Real Estate Securities Income Fund Inc. stock symbol ?
Neuberger Berman Real Estate Securities Income Fund Inc. is a US stock , located in New york of Ny and trading under the symbol NRO
What is Neuberger Berman Real Estate Securities Income Fund Inc. stock quote today ?
Neuberger Berman Real Estate Securities Income Fund Inc. stock price is $2.98 today.
Is Neuberger Berman Real Estate Securities Income Fund Inc. stock public?
Yes, Neuberger Berman Real Estate Securities Income Fund Inc. is a publicly traded company.