Benzinga - by Avi Kapoor, Benzinga Staff Writer.
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, according to Benzinga Pro.
Here's the latest list of major oversold players in this sector, having an RSI near or below 30.
RLJ Lodging Trust (NYSE:RLJ)
- On May 1, RLJ Lodging posted better-than-expected quarterly sales. “Our first quarter RevPAR growth came in line with our expectations given the holiday shift and we once again exceeded the industry while gaining market share,” commented Leslie D. Hale, President and Chief Executive Officer. The company's stock fell around 9% over the past month and has a 52-week low of $9.07.
- RSI Value: 24.51
- RLJ Price Action: Shares of RLJ Lodging Trust closed at $10.07 on Friday.
- On May 6, Uniti Group announced plans for a $300 million offering of 10.50% Senior Secured Notes due 2028 by its subsidiaries. The company's stock fell around 43% over the past month. It has a 52-week low of $3.20.
- RSI Value: 19.80
- UNIT Price Action: Shares of Uniti Group fell 0.6% to close at $3.24 on Friday.
- On April 30, Community Healthcare posted weaker-than-expected quarterly sales. The company's stock fell around 15% over the past month and has a 52-week low of $22.57.
- RSI Value: 27.26
- CHCT Price Action: Shares of Community Healthcare Trust fell 1% to close at $22.67 on Friday.
- On May 13, Seritage Growth Properties said it is negotiating an agreement for the sale of four assets for gross proceeds of $79.1 million. The company's shares lost around 40% over the past month. The company's 52-week low is $5.59.
- RSI Value: 7.16
- SRG Price Action: Shares of Seritage Growth Properties fell 1.2% to close at $5.62 on Friday.
- On May 1, Hudson Pacific Properties posted downbeat quarterly sales. “Our office leasing momentum accelerated to start off the year, as we signed over 500,000 square feet of leases in the first quarter. Leveraging our well-positioned portfolio and the strength of our platform, our team is executing on leasing even as adverse market conditions persist, and we view long-term demand drivers for our office space as compelling,” commented Victor Coleman, Hudson Pacific’s Chairman and CEO. The company's shares fell around 12% over the past five days. The company has a 52-week low of $4.05.
- RSI Value: 27.15
- HPP Price Action: Shares of Hudson Pacific Properties fell 3.7% to close at $4.70 on Friday.
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