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.
LuxUrban Hotels Inc. (NASDAQ:LUXH)
- LuxUrban Hotels is scheduled to report financial results for the first quarter ended March 31, 2024 on Monday, May 13, after the closing bell. The company's stock fell around 26% over the past five days and has a 52-week low of $0.6190 .
- RSI Value: 29.98
- LUXH Price Action: Shares of LuxUrban Hotels fell 12% to close at $0.6235 on Friday.
- On May 1, FLJ Group received a NASDAQ determination letter on compliance plan. The company's stock fell around 31% over the past month. It has a 52-week low of $0.3730.
- RSI Value: 24.77
- FLJ Price Action: Shares of FLJ Group gained 1.3% to close at $0.3949 on Friday.
- On May 10, Seritage Growth Props posted a narrower quarterly loss. “We are continuing to advance our Plan of Sale, having sold $80 million of assets year to date and repaid an equal amount of debt in the process. Since the announcement of our strategic review and election to be taxed as a C-Corp two years ago, we have sold 151 assets for approximately $1.7 billion of gross proceeds and repaid roughly $1.2 billion in debt. Based on our broad transaction experience, we are seeing a few themes emerge. Assets previously underwritten for life sciences or tech office are now frequently being reconsidered for other uses in higher demand but with less aggressive rent profiles, which, taken together with high construction costs, drives down the amount that can be paid for land. We are also seeing investors focusing on less risky debt or cash flowing equity investments to generate double-digit returns. Yet, some with a longer-term view are starting to come back to the development market. With more stability in interest rates and inflation, buyers are able to underwrite deals more confidently, albeit at lower valuations. As such we are adjusting our pricing projections for some of our assets.” said Andrea L. Olshan, Chief Executive Officer and President. The company has a 52-week low of $7.07.
- RSI Value: 12.67
- SRG Price Action: Shares of Seritage Growth Properties fell 0.1% to close at $9.32 on Friday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.