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.
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.
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
- How diversified is the Vanguard Australian Shares Index ETF?
- Vanguard Australian Shares ETF (ASX:VAS) plummets! What’s going on?
- Hoping to bag the next Vanguard Australian Shares Index ETF (ASX:VAS) dividend? Read this
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