Duke Realty Corp, Rexford Industrial Realty, Inc., VEREIT, Inc. and others reached higher-than-usual trading volumes.
A quick recap of where the last trading session ended: Leading equity indices in the US rose as Nasdaq ended the session at 11,323 after a 1.88% gain. S&P 500 closed the day at 3,993, having gained 0.92%.
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.
Price action was mostly bullish Friday with some real estate stocks recording abnormally high trading volumes. Here's a recap:
Duke Realty | 200% above rolling average After 14 sombre days of declines, Duke Realty was up 0.48% Friday
Trading volume peaked at 41.77 million shares Friday, thereby obliterating the daily average of 20.72 million by 200%. Signs of life: 20 days of level trading might be coming to an end with a gain of 2.19% today Friday's session shows improvement: Duke Realty increases 0.48% to close at $48.2 Friday.
Duke Realty is now trading 25.78% below its 3-month high of $65.64. So far in 2022, it has been under-performing the S&P 500 by 5.12%. The company's market cap is $18.56 billion with an average daily trading volume of 20.72 million shares. Duke Realty last reported revenue of $280.15 million with an EPS of 27 cents.
Rexford Industrial | 560% above rolling average Rexford Industrial ended the session at $55.85 (-3.76%)
Friday's trading volume peaked at 8.93 million shares, thereby blitzing the daily average of 1.59 million by 560%. After ending Thursday at $58.03, Rexford Industrial dropped to $55.33 early in Friday's session and closed at $55.85. In total, it lost 3.76%.
Rexford Industrial hit a significant low of $49.85 around 24 days ago, but has since recovered 16.41%. The company has a market cap of $10.25 billion with an average daily volume of 1.59 million shares. Rexford Industrial has a forecast of $159.78 million with an EPS of 22.09 cents.
VEREIT | 162% higher than rolling average Pre-market trading leads VEREIT to drop to $50.3 (a 1.6% change) after ending Friday at $51.12
Trading volume peaked at 8.15 million shares Friday, thereby obliterating the daily average of 5 million by 162%. After ending Thursday at $51.63, VEREIT fell to $51.12. Overall, a 0.99% move or 51 cents Friday.
— Average trading volume refers to a 21-day rolling average.