Alexandria Real Estate Equities (ARE) Trading In Wide Support/Resistance Range

Posted: Wednesday, November 04, 2009 9:05 AM EDT

Alexandria Real Estate Equities (NYSE: ARE) closed yesterday at $54.59. So far the stock has hit a 52-week low of $30.33 and 52-week high of $72.42. Alexandria Real Estate Equities stock has been showing support around 52.08 and resistance in the 55.98 range. Technical indicators for the stock are Bullish and S&P gives ARE a positive 4 STAR (out of 5) buy rating. ARE appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at a Jan '10 50 covered call (ARE AJ) for a net debit in the $47.89 area. That is also the break even stock price for this trade. This covered call has a 73 day duration, provides 12.27% downside protection and a 4.41% assigned return rate for a 22.03% annualized return rate (comparison purposes only). Alexandria Real Estate Equities has a current annual dividend yield of 2.58%. [WBA-Seven Summits Research]

Click Symbol For More News On: (ARE)