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

These ASX 300 shares are defying the odds to record their highest share prices in at least 3 years.

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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 (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.

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.

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