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June 27, 2023
SL Green Realty Corp., Vornado Realty Trust, Hudson Pacific Properties, Inc. led the pack during yesterday's heightened trading volumes.
A recap of yesterday's session: Leading equity indices in the US declined as after dropping 1.16%, Nasdaq closed at 13,336. After dropping 0.45%, S&P 500 closed at 4,328.82.
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.
SL Green | 329% higher than rolling average
Trading volume was 9.62 million shares yesterday — beating the daily average by a mammoth 329%.
The real estate investment trust now trading 50.38% above its 3-month low of $19.96.
SL Green discloses 27.1 cents per share dividend to be paid on Thursday, June 15th
Vornado Realty Trust | 224% higher than rolling average
Yesterday's trading volume peaked at 8.60 million shares, thereby blitzing the daily average of 3.84 million by 224%.
Vornado Realty Trust hit a significant low of $12.38 around a month ago, but has since recovered 17.37%.
Hudson Pacific Properties, Inc. | 145% higher than rolling average
Yesterday's trading volume was 8 million shares (surpassing the daily average by 145%).
Over the past 11 months, the REIT has retreated 73.86% from a noteworthy peak of $15.61.
Hudson Pacific Properties, Inc.'s board sets quarterly dividend of 12.5 cents per share to be paid on Friday, June 30th; annual dividend yield esimated at 10.94%.
— Average trading volume refers to a 21-day rolling average.
