Benzinga - The most oversold stocks in the real estate sector presents an opportunity to buy into undervalued companies.
The RSI is a momentum indicator, which compares a stock's strength on days when prices go up to its strength on days when prices go down. When compared to a stock's price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the RSI is below 30.
Here’s the latest list of major oversold players in this sector, having an RSI near or below 30.
WeWork Inc. (NYSE: WE)
- WeWork recently announced a CEO change. The company also reported first-quarter 2023 revenue growth of 11% Y/Y to $894 million Tuesday, slightly missing the consensus estimate. The company’s stock has a 52-week low of $0.1620 .
- RSI Value: 21.40
- WE Price Action: Shares of WeWork fell 2.6% to close at $0.1669 on Thursday.
- Comstock Holding reported a decline in EPS for the first quarter. "Once again, Comstock’s results for the first quarter demonstrate the resiliency of our asset-light and virtually debt-free business model, while the quality of our mixed-use and transit-oriented portfolio of managed assets continues to deliver revenue and Adjusted EBITDA growth," said Christopher Clemente, Comstock’s Chairman and Chief Executive Officer. The company’s stock has a 52-week low of $3.59.
- RSI Value: 28.53
- CHCI Price Action: Shares of Comstock Holding fell 0.5% to close at $3.75 on Thursday.
3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or
remove ads
.
Elme Communities - Elme Communities reported higher sales for the first quarter. "We delivered a strong first quarter and we remain on track to generate double-digit Core FFO growth this year," said Paul T. McDermott, President and CEO. The company’s stock has a 52-week low of $14.95.
- RSI Value: 25.48
- ELME Price Action: Shares of Elme Communities fell 0.3% to close at $15.07 on Thursday.
Read More: Lululemon, Five Below And 3 Stocks To Watch Heading Into Friday
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.