Highwoods Properties, Inc., CoStar Group, Inc., Cousins Properties Incorporated and others reached higher-than-usual trading volumes.
A quick recap of where the last trading session ended: Markets completed a mixed session yesterday, as Dow Jones was down 0.68% before closing the session at 33,300. S&P 500 closed at 4,056, a 0.38% change.
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.
While trading was mostly sideways yesterday, several real_estate stocks were actively traded. Here's an update:
Highwoods Properties | 189% higher than rolling average
Highwoods Properties, Inc. went down to $22.36 (0.62%), adding to its six days of losses. Highwoods Properties hit a significant low of $19.82 around a month ago, but has since recovered 13.52%. The stock has been trending positively for about a month. Currently, the US REIT has a market capitalization of $2.35 billion with an average daily volume of 1.24 million shares.
Yesterday's trading volume peaked at 2.34 million shares, thereby blitzing the daily average of 1.24 million by 189%.
CoStar | 202% above rolling average
CoStar had a compelling day yesterday, with 3.49 million shares traded helping the company surpass its average daily volume by 202%.
The commercial property company has fallen back around 18.61% from the significant high of $84.16 set 5 months ago. The stock has been trending positively for about a month.
CoStar reported earnings results Tuesday, with EPS at 0.2145 and revenues at $584.37 million; these results are mixed when compared to a consensus of 0.25 Earnings Per Share and $579.38 million revenue. Since the release of its earnings report, CoStar gained 2.36%.
Cousins Properties | 162% above rolling average
Yesterday's trading volume was 2.82 million shares (surpassing the daily average by 162%).
Cousins Properties hit a significant low of $18.5 around a month ago, but has since recovered 12.54%. The stock has been trending positively for about a month. During a 6 day fall, dropping a total of 3.91%, (91 cents),
Cousins Properties discloses 32 cents per share dividend to be paid on Friday, April 14th
Cousins Properties is scheduled to announce earnings results tomorrow. The consensus Earnings Per Share estimate is 0.13 and the consensus revenue estimate is $195.35 million.
— Average trading volume refers to a 21-day rolling average.