Public Storage (PSA) 11/18/09 PriceWatch Alert Shows Bullish Technicals
Posted: Wednesday, November 18, 2009 8:36 AM EDT
By: Market Intelligence Center Staff
Public Storage (NYSE: PSA) closed yesterday at $79.91. 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 78.84 and resistance in the 82.00 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 $71.11 area. That is also the break even stock price for this trade. This covered call has a 122 day duration, provides 11.01% downside protection and a 5.47% assigned return rate for a 16.37% annualized return rate (comparison purposes only). Public Storage has a current annual dividend yield of 2.75%. [WBA-Seven Summits Research]
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