Public Storage (PSA) 11/11/09 PriceWatch Alert Could Hit 18.06% Return
Posted: Wednesday, November 11, 2009 8:35 AM EDT
By: Market Intelligence Center Staff
Public Storage (NYSE: PSA) closed yesterday at $78.70. So far the stock has hit a 52-week low of $45.35 and 52-week high of $80.57. Public Storage stock has been showing support around 77.31 and resistance in the 79.83 range. Technical indicators for the stock are Bullish and S&P gives PSA a neutral 3 STAR (out of 5) hold rating. PSA appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at a Mar '10 75 covered call (PSA CO) for a net debit in the $70.50 area. That is also the break even stock price for this trade. This covered call has a 129 day duration, provides 10.42% downside protection and a 6.38% assigned return rate for an 18.06% annualized return rate (comparison purposes only). Public Storage has a current annual dividend yield of 2.78%. [WBA-Seven Summits Research]
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