Public Storage (PSA) 11/16/09 PriceWatch Alert Bullish Price Movement
Posted: Monday, November 16, 2009 8:02 AM EDT
By: Market Intelligence Center Staff
Public Storage (NYSE: PSA) ended the last trading session at $79.94. 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 78.36 and resistance in the 81.26 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 $71.34 area. That is also the break even stock price for this trade. This covered call has a 124 day duration, provides 10.76% downside protection and a 5.13% assigned return rate for a 15.10% annualized return rate (comparison purposes only). Public Storage has a current annual dividend yield of 2.77%. [ABR-Seven Summits Research]
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