Spotlight on Cohen & Steers PTA: An Oversold Dividend Stock Worth Watching
Finding Value in the Oversold Market
The DividendRank system at Dividend Channel evaluates thousands of dividend stocks using a unique formula to identify those with strong fundamentals and attractive valuations. Currently, Cohen & Steers Tax-advantaged Preferred Securities (Symbol: PTA) boasts an impressive rank, placing it in the top 25% of this coverage universe. This designation indicates that PTA is one of the most compelling options for potential investor research.
Adding to its appeal, PTA shares traded at prices as low as $20.01 on Wednesday, pushing the stock into oversold territory. The Relative Strength Index (RSI), a tool used in technical analysis to measure stock momentum, indicates a stock is oversold when its reading drops below 30. For PTA, the current RSI stands at 29.8, while the average for dividend stocks in the same universe is 49.7. As prices decline, dividend investors might find enhanced yield opportunities. PTA’s recent annualized dividend of $1.608 per share, paid monthly, translates to a notable 7.98% yield based on the recent share price of $20.15.
Bullish investors might interpret PTA’s 29.8 RSI as a potential signal that the aggressive selling pressure is nearing its end, prompting opportunities for buyers to enter. To evaluate whether to take a bullish stance on PTA, investors should closely analyze the company’s dividend history.
While dividends can be unpredictable, reviewing the following historical chart may assist in assessing the likelihood of consistent future payouts.
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The views and opinions expressed herein are those of the author and do not necessarily reflect the opinions of Nasdaq, Inc.
