Benzinga - by Lisa Levin, Benzinga Editor.
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.
Healthpeak Properties, Inc. (NYSE: PEAK)
- Healthpeak Properties posted better-than-expected second-quarter sales. The company’s stock has a 52-week low of $18.30 .
- RSI Value: 26.21
- PEAK Price Action: Shares of Healthpeak Properties fell 1.7% to close at $18.41 on Tuesday.
- MAA reported planned retirement of CFO Albert Campbell, effective March 31, 2024 and internal promotion of Clay Holder. It has a 52-week low of $129.11.
- RSI Value: 25.91
- MAA Price Action: Shares of Mid-America Apartment Communities rose 0.01% to close at $130.49 on Tuesday.
- Redfin reported better-than-expected second-quarter financial results. The company’s stock has a 52-week low of $3.08.
- RSI Value: 19.51
- RDFN Price Action: Shares of Redfin fell 1% to close at $6.88 on Tuesday.
- Zillow posted upbeat sales for the second quarter. "Zillow outperformed the broader industry for the fourth consecutive quarter as we navigate a tough real estate market," said Zillow co-founder and CEO Rich Barton. "I'm pleased with our steady progress on improving and integrating our customer and partner experiences, especially in touring, financing, and renting." The company’s 52-week low is $26.14.
- RSI Value: 28.28
- Z Price Action: Shares of Zillow Group fell 0.2% to close at $45.35 on Tuesday.
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