Equity Residential (EQR) 9/8/09 PriceWatch Alert Targets 24.95% Return
Posted: Tuesday, September 08, 2009 8:24 AM EDT
By: Market Intelligence Center Staff
Equity Residential (NYSE: EQR) ended the last trading session at $26.66. So far the stock has hit a 52-week low of $15.68 and 52-week high of $49.00. Equity Residential stock has been showing support around 25.61 and resistance in the 27.19 range. Technical indicators for the stock are Bullish and S&P gives EQR a weak 2 STAR (out of 5) sell rating. EQR appears on the Investors Observer Stocks In The News list. Fox Pitt upgraded EQR Wednesday to Outperform from Market Perform. For a hedged play on this stock, look at a Jan '10 25 covered call (EQR AE) for a net debit in the $22.96 area. That is also the break even stock price for this trade. This covered call has a 130 day duration, provides 13.88% downside protection and an 8.89% assigned return rate for a 24.95% annualized return rate (comparison purposes only). Equity Residential has a current annual dividend yield of 7.45%. [ATU-Seven Summits Research] For more information on these strategies along with more details on possible risks go to www.iotogo.com/HPWAinfo
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