Take a look at the following real estate stocks that showed higher volumes than usual: Duke Realty Corp, Life Storage, Inc., Rexford Industrial Realty, Inc..
Yesterday's session summary: Leading equity indices in the US declined as Nasdaq closed at 10,984, a 0.59% change. S&P 500 shed 0.16% and closed at 3,957.63.
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 yesterday, some real estate stocks reached high volumes. Here is an update.
Duke Realty ended yesterday at $48.2, a 0.48% increase End of a slump? After 24 days of going down, Duke Realty up 0.48% yesterday
Recent gains came after 30 days of trading sideways, yesterday's session shows improvement: Duke Realty ascends 0.48% to close at $48.2 yesterday.
The US REIT is now trading 19.97% below its 3-month high of $65.64. So far in 2022, it has been doing worse than the S&P 500 by 4.27%. The company has a market cap of $18.56 billion Duke Realty's last revenue report was $280.15 million with an EPS of 27 cents.
Life Storage | 162% above rolling average Life Storage closes at $103.47 after gaining 0.89%
Life Storage outpaced its average daily trading volume (586,170) with 948,280 shares traded yesterday. While Life Storage was in the midst of a 7 day downtrend— in which it lost a total of 3.73%— a possible reversal detected from yesterday; after dipping down to $102.3, Life Storage regained earlier losses, closing higher at $103.47.
Rexford Industrial | 106% slightly greater than rolling average Rexford Industrial gains 1.5% within $52.89 to $54.17 daily range
Trading volume peaked at 1.90 million shares yesterday, thereby obliterating the daily average of 1.80 million by 106%. The Californian REIT went up to $54.08, gaining 1.5%.
The Californian REIT reached a significant high of $83.86 around 7 months ago but has lost 36.47% since then. Rexford Industrial's market cap currently stands at $9.92 billion with an average daily volume of 1.80 million shares. Rexford Industrial expected revenue of $159.78 million with an EPS of 22.09 cents.
— Average trading volume refers to a 21-day rolling average.