The stock of Ground Rents Income Fund PLC (LON:GRIO) hit a new 52-week high and has GBX 194.78 target or 47.00% above today’s GBX 132.50 share price. The 7 months bullish chart indicates low risk for the GBX 123.76M company. The 1-year high was reported on Oct, 28 by Barchart.com. If the GBX 194.78 price target is reached, the company will be worth GBX 58.17M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock increased 1.92% or GBX 2.5 on October 28, hitting GBX 132.5. About 56,561 shares traded hands or 1.07% up from the average. Ground Rents Income Fund PLC (LON:GRIO) has risen 10.28% since March 31, 2016 and is uptrending. It has outperformed by 5.57% the S&P500.
Ground Rents Income Fund plc is a closed-ended real estate investment trust (REIT). The company has a market cap of 123.76 million GBP. The Company, together with its subsidiaries, operates a property investment and rental business. It has a 8.23 P/E ratio. The Firm invests in a diversified portfolio of ground rents.
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