The following real_estate stocks experienced higher volumes than usual including Extra Space Storage Inc, Douglas Emmett, Inc., STORE Capital Corporation and others.
A quick recap of where the last trading session ended: Leading equity indices in the US rose as Nasdaq gained 0.76% and closed at 12,100. S&P 500 ended the session at 4,105 after a 0.36% 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 Thursday with some real_estate stocks recording abnormally high trading volumes. Here's a recap:
Extra Space Storage | 121% slightly greater than rolling average
The past 3 months have been positive for the REIT as it added 13.3% compared to its 3-month low of $141.04. Extra Space Storage has a market cap of $24.41 billion with an average daily volume of 1.82 million shares.
Trading volume was 2.20 million shares Thursday — beating the daily average by a mammoth 121%.
Douglas Emmett | 104% slightly above rolling average
Douglas Emmett had a compelling day Thursday, with 4.14 million shares traded helping the company surpass its average daily volume by 104%.
After hitting an important low of $10.84 approximately 16 days ago, the class-A office buildings REIT has bounced back 15.22% since. Douglas Emmett has posted further gains as part of a 6 day trend that has already seen the stock gain 48 cents.
Douglas Emmett's board sets quarterly dividend of 19 cents per share to be paid on Friday, April 14th; annual dividend yield esimated at 5.91%.
STORE Capital Corporation | 157% higher than rolling average
With an average daily trading volume of 2.61 million shares.
STORE Capital Corporation outpaced its average daily trading volume (2.61 million) with 4 million shares traded Thursday.
— Average trading volume refers to a 21-day rolling average.