A busy day for CubeSmart, Brixmor Property Group Inc., EPR Properties, being the prominent real estate stocks displaying higher volumes than usual.
Here's an update with information from the last trading session: Markets were up yesterday; Dow Jones gained 1.58% and closed at 34,000. S&P 500 ended the session at 3,990.56 after a 1.43% gain.
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 yesterday with some real estate stocks recording abnormally high trading volumes. Here's a recap:
CubeSmart | 150% above rolling average CubeSmart is up five days in a row, gaining 0.84% and closing at $43.32
Yesterday's trading volume peaked at 2.54 million shares, thereby blitzing the daily average of 1.69 million by 150%. CubeSmart has posted further gains as part of an 11 day trend that has already seen the stock gain $4.05. yesterday continued on the same track for CubeSmart — having ended a bullish session yesterday at $43.32, momentum helped CubeSmart finish the day 36 cents or 0.84% higher, although mixed sentiments ensured the self-managed real estate company etched out a distinct $42.66 to $43.36 session range.
The self-managed real estate company is now trading 15.36% above the significant low ($37.24) it slumped to a month ago. The Nasdaq has been doing worse in 2022, it has been passing it by 21.49%. The company has a market cap of $9.73 billion with an average daily volume of 1.69 million shares. CubeSmart has a forecast of $257.33 million with an EPS of 28 cents.
Brixmor | 156% above rolling average Brixmor ended yesterday at $22.62, a 0.35% increase
With 3.53 million shares traded yesterday, Brixmor beat its daily average by 156% to cap off a frenetic trading day. While Brixmor was in the midst of a 9 day downtrend— in which it lost a total of 2.42%— a possible change of direction spotted from yesterday; after dipping down to $22.36, Brixmor regained earlier losses and ended up at $22.62.
EPR Properties | 183% above rolling average EPR Properties depreciates 0.25% with $40.12 as the low of the day
Trading volume peaked at 703,313 shares yesterday, thereby obliterating the daily average of 384,571 by 183%. Over the last 9 days, EPR Properties has fallen 2.24%. more of the same from yesterday's session: early in yesterday's session, EPR Properties dropped to $40.12 from $40.78 at the end of Friday, before closing at $40.68. During the session, it lost 0.25%.
2 months ago, the leading experimental REIT fell to a low of $35.2 but has since recovered 15.85%. The company's market cap is $3 billion with an average daily trading volume of 384,571 shares. EPR Properties's last revenue report was $161.41 million with an EPS of 60 cents.
— Average trading volume refers to a 21-day rolling average.