The stock of Ground Rents Income Fund PLC (LON:GRIO) hit a new 52-week high and has GBX 261.69 target or 94.00% above today’s GBX 134.89 share price. The 5 months bullish chart indicates low risk for the GBX 127.91M company. The 1-year high was reported on Nov, 7 by Barchart.com. If the GBX 261.69 price target is reached, the company will be worth GBX 120.24 million 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 1.42% or GBX 1.89 on November 7, hitting GBX 134.89. About 59,659 shares traded hands. Ground Rents Income Fund PLC (LON:GRIO) has risen 23.95% since April 8, 2016 and is uptrending. It has outperformed by 22.00% the S&P500.
Ground Rents Income Fund plc is a closed-ended real estate investment trust (REIT). The company has a market cap of 127.91 million GBP. The Company, together with its subsidiaries, operates a property investment and rental business. It has a 8.38 P/E ratio. The Firm invests in a diversified portfolio of ground rents.
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