The stock of Ground Rents Income Fund PLC (LON:GRIO) hit a new 52-week high and has GBX 148.79 target or 9.00% above today’s GBX 136.50 share price. The 5 months bullish chart indicates low risk for the GBX 126.31 million company. The 1-year high was reported on Nov, 23 by Barchart.com. If the GBX 148.79 price target is reached, the company will be worth GBX 11.37M 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 2.06% or GBX 2.75 on November 23, hitting GBX 136.5. About 2.14 million shares traded hands or 3642.89% up from the average. Ground Rents Income Fund PLC (LON:GRIO) has risen 24.65% since April 26, 2016 and is uptrending. It has outperformed by 19.32% the S&P500.
Ground Rents Income Fund plc is a closed-ended real estate investment trust (REIT). The company has a market cap of 126.31 million GBP. The Company, together with its subsidiaries, operates a property investment and rental business. It has a 8.48 P/E ratio. The Firm invests in a diversified portfolio of ground rents.
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