Public Storage (PSA) 11/12/09 PriceWatch Alert Technicals Showing Bullish
Posted: Thursday, November 12, 2009 8:45 AM EDT
By: Market Intelligence Center Staff
Public Storage (NYSE: PSA) closed yesterday at $79.55. So far the stock has hit a 52-week low of $45.35 and 52-week high of $80.58. Public Storage stock has been showing support around 77.72 and resistance in the 81.50 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 $71.35 area. That is also the break even stock price for this trade. This covered call has a 128 day duration, provides 10.31% downside protection and a 5.12% assigned return rate for a 14.59% annualized return rate (comparison purposes only). Public Storage has a current annual dividend yield of 2.78%. [THA-Seven Summits Research]
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