3 ASX 300 shares defying the carnage to reach new 52-week highs

Rocket going up above mountains, symbolising a record high.Rocket going up above mountains, symbolising a record high.

The market has taken a turn for the worst today, with the S&P/ASX 300 Index (ASX: XKO) following its more recognisable peers into the red. But some ASX 300 shares are bucking the trend to not only record gains on Tuesday, but to surpass their highest point in more than a year.

Right now, the ASX 300 is down 1.94%. That’s comparable to the falls recorded by both the All Ordinaries Index (ASX: XAO) and the S&P/ASX 200 Index (ASX: XJO) on Tuesday.

So, which ASX 300 shares are reaching long-forgotten highs today, and what’s inspiring them to trade in the green? Let’s take a look.

3 ASX 300 shares hitting new 52-week highs

Irongate Group Ltd (ASX: IAP)

The Irongate share price hit a new all-time high of $1.94 in intraday trade on Tuesday.

Interestingly, there’s been no news from the real estate investment trust (REIT) to explain its buoyancy.

However, the company is currently in the throws of a takeover proposal from a partnership involving Charter Hall Group (ASX: CHC).

The proposal – which has been given the thumbs up from Irongate’s board ­– will see the ASX 300 company’s shareholders receiving $1.90 of cash per share they own.

Shareholders will also be eligible for Irongate’s upcoming dividend up to the value of 4.67 cents per share.

Eclipx Group Ltd (ASX: ECX)

Fleet lease and management services provider, Eclipx is also in the green today.

In fact, the ASX 300 stock surged 2.8% to trade at $2.88 at its intraday high – the highest it’s been since 2018.

There’s been no news from the company lately. Though, its share price has gained nearly 34% year to date.

Hotel Property Investments Ltd (ASX: HPI)

Finally, rounding out the ASX 300 shares reaching new 52-week highs on Tuesday is Hotel Property Investments.

The REIT’s stock rose to $4.05 – a new all-time high ­– despite the broader market trading in the red today.

The last time the ASX heard news from the company was in February when it released its results for the first half of financial year 2022.

The post 3 ASX 300 shares defying the carnage to reach new 52-week highs appeared first on The Motley Fool Australia.

Should you invest $1,000 in Irongate right now?

Before you consider Irongate, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Irongate wasn’t one of them.

The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of January 13th 2022

More reading

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns and has recommended Hotel Property Investments Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

from The Motley Fool Australia https://ift.tt/Ux7Mb15

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s