Public Storage (PSA) 11/17/09 PriceWatch Alert Shows Bullish Technicals

Posted: Tuesday, November 17, 2009 8:30 AM EDT

Public Storage (NYSE: PSA) closed yesterday at $81.17. So far the stock has hit a 52-week low of $45.35 and 52-week high of $82.02. Public Storage stock has been showing support around 79.59 and resistance in the 82.81 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 80 covered call (PSA CP) for a net debit in the $74.37 area. That is also the break even stock price for this trade. This covered call has a 123 day duration, provides 8.38% downside protection and a 7.57% assigned return rate for a 22.46% annualized return rate (comparison purposes only). Public Storage has a current annual dividend yield of 2.79%. [ATU-Seven Summits Research]

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