Public Storage (PSA) 11/19/09 PriceWatch Alert Support Down To $78.74
Posted: Thursday, November 19, 2009 8:44 AM EDT
By: Market Intelligence Center Staff
Public Storage (NYSE: PSA) closed yesterday at $80.69. 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 78.74 and resistance in the 81.84 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 $74.39 area. That is also the break even stock price for this trade. This covered call has a 121 day duration, provides 7.81% downside protection and a 7.54% assigned return rate for a 22.75% annualized return rate (comparison purposes only). Public Storage has a current annual dividend yield of 2.71%. [THA-Seven Summits Research]
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