Essex Property Trust (ESS) 11/20/09 PriceWatch Alert Targets 14.67% Return
Posted: Friday, November 20, 2009 8:36 AM EDT
By: Market Intelligence Center Staff
Essex Property Trust (NYSE: ESS) closed yesterday at $79.12. So far the stock has hit a 52-week low of $49.19 and 52-week high of $88.75. Essex Property Trust stock has been showing support around 77.42 and resistance in the 80.44 range. Technical indicators for the stock are Bullish and S&P gives ESS a neutral 3 STAR (out of 5) hold rating. ESS appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at a Jan '10 75 covered call (ESS AO) for a net debit in the $73.32 area. That is also the break even stock price for this trade. This covered call has a 57 day duration, provides 7.33% downside protection and a 2.29% assigned return rate for a 14.67% annualized return rate (comparison purposes only). Essex Property Trust has a current annual dividend yield of 5.12%. [FBB-Seven Summits Research]
CLICK HERE: FREE Essex Property Trust (ESS) Stock ReportSee what our analysts have uncovered about Essex Property Trust (ESS).