NEN Stock Summary and Trading Ideas (New England Realty Associates Limited Partnership Class A Depositary Receipts Evidencing Units Of Limited Partnership | AMEX:NEN)

New England Realty Associates LP is engaged in the business of acquiring, developing, holding for investment, operating and selling real estate. The Partnership owns and operates various residential apartments, condominium units and commercial properties located in Massachusetts and New Hampshire. The company generates revenue from rental income from residential and commercial properties recognized over the term of the related lease. The long-term goals of the Partnership are to manage, rent and improve its properties and to acquire additional properties with income and capital appreciation potential as suitable opportunities arise.

New England Realty Associates Limited Partnership Class A Depositary Receipts Evidencing Units Of Limited Partnership trades on the AMEX stock market under the symbol NEN.

As of May 13, 2024, NEN stock price was flat at $70.50 with 5 million shares trading.

NEN has a market cap of $248.12 million. This is considered a Small Cap stock.

In the last 3 years, NEN stock traded as high as $85.00 and as low as $54.46.

NEN has underperformed the market in the last year with a price return of +5.3% while the SPY ETF gained +27.9%. However, in the short term, NEN had mixed performance relative to the market. It has outperformed in the last 3 months, returning +5.4% vs +4.3% return in SPY. But in the last 2 weeks, NEN shares have been beat by the market, returning +2.0% compared to an SPY return of +2.5%.

NEN support price is $69.52 and resistance is $71.48 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that NEN stock will trade within this expected range on the day.