CubeSmart, SL Green Realty Corp., KE Holdings Inc. and others reached higher-than-usual trading volumes.
A recap of today's session: Leading equity indices in the US declined as after dropping 1.79%, S&P 500 closed at 3,999. Dow Jones slipped 1.4% and closed at 33,947.
Why Trading Volume Matters
Trading volume is simply the total number of shares traded including both buy and sell orders. If a stock has appreciated on high volume, it is more likely to be a sustained move compared to an appreciation with low volume. Typically, high volume trading sessions are considered significant occurrences and closely watched by traders.
Though trading was down today, some real estate stocks reached high volumes. Here is an update.
CubeSmart | 474% higher than rolling average CubeSmart continued a five day positive streak, up 1.27% to $42.35.
Trading volume peaked at 5.96 million shares today, thereby obliterating the daily average of 1.26 million by 474%. CubeSmart continues a 5 day uptrend, gaining a total of 8.84%. today's session pointed in the same direction — CubeSmart ended Friday at $41.82. today it went up to $43.77 only to drop back, yet still managed to close at $42.35.
The self storage company has recovered 12.3% since descending to a significant low of $37.24 around a month ago. So far in 2022 it has been beating the Nasdaq by 16.36%. The company's market cap is $9.51 billion with an average daily volume of 1.26 million shares. CubeSmart has a forecast of $257.33 million with an EPS of 28 cents.
SL Green | 246% higher than rolling average SL Green closed at $38.06 after losing 6.28% today
Trading volume peaked at 2.25 million shares today, thereby obliterating the daily average of 917,396 by 246%. Having fallen $1.35 in 3 days, today's session continued the recent downtrend: after ending Friday at $40.61, SL Green declined to $37.9 today before closing at $38.06, thereby losing 6.28% in total.
The US REIT is now trading 51.61% below the significant high of $83.92 it set around 8 months ago. SL Green's market cap currently stands at $2.45 billion with an average daily trading volume of 917,396 shares. SL Green is forecasted to generate revenues of $148.98 million and EPS of 9.44 cents.
KE Holdings | 187% above rolling average KE Holdings lost 6.7% today, closed at $16.43
Today's trading volume peaked at 22.97 million shares, thereby blitzing the daily average of 12.31 million by 187%. Early in today's session, KE Holdings dropped to $16 from $17.61 at the end of Friday, before closing at $16.43. During the session, it lost 6.7%.
KE Holdings hit a significant low of $nine around 8 months ago, but has since recovered 95.67%. The Nasdaq has been doing worse in 2022, it has been passing it by 29.37%. KE Holdings's market cap is currently $20.77 billion with an average daily volume of 12.31 million shares.
— Average trading volume refers to a 21-day rolling average.