Essex Property Trust (ESS) 2/9/10 PriceWatch Alert With $72.47 Break Even
Posted: Tuesday, February 09, 2010 8:46 AM EDT
By: Market Intelligence Center Staff
Essex Property Trust (NYSE: ESS) closed yesterday at $77.87. So far the stock has hit a 52-week low of $49.19 and 52-week high of $88.35. Essex Property Trust stock has been showing support around 76.53 and resistance in the 80.43 range. Technical indicators for the stock are Bearish and S&P gives ESS a neutral 3 STAR (out of 5) hold rating. ESS appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at an Apr '10 75 covered call for a net debit in the $72.47 area. That is also the break even stock price for this trade. This covered call has a 67 day duration, provides 6.93% downside protection and a 3.49% assigned return rate for a 19.02% annualized return rate (comparison purposes only). Essex Property Trust has a current annual dividend yield of 5.31%. [ATU-Seven Summits Research]
CLICK HERE: FREE Essex Property Trust (ESS) Stock ReportSee what our analysts have uncovered about Essex Property Trust (ESS).