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.
W. P. Carey Inc. WPC
- On Feb. 9, W.P. Carey reported worse-than-expected fourth-quarter results. W.P. Carey CEO Jason Fox said,“Looking ahead, we view 2024 as a transitional year, establishing a new baseline from which to grow AFFO…We’ve raised our expectations for 2024 investment volume and we’re very well-positioned to execute — with exceptionally strong liquidity and a lower cost of capital — in an improving investment environment.” The company’s stock fell around 17% over the past month and has a 52-week low of $50.30 .
- RSI Value: 28.81
- WPC Price Action: Shares of W.P. Carey fell 0.1% to close at $55.83 on Wednesday.
SBA Communications Corporation SBAC
- On Nov. 2, SBA Communications posted third-quarter AFFO per share of $3.34. The company is expected to release its fourth quarter results on Feb. 26, 2024 after market close. The company’s stock fell around 12% over the past month. It has a 52-week low of $185.23.
- RSI Value: 27.79
- SBAC Price Action: Shares of SBA Communications rose 0.1% to close at $209.07 on Wednesday.
Healthpeak Properties, Inc. PEAK
- On Feb. 8, Healthpeak Properties posted upbeat fourth-quarter results. The company’s stock fell around 19% over the past month and has a 52-week low of $15.24.
- RSI Value: 29.73
- PEAK Price Action: Shares of Healthpeak Properties gained 0.5% to close at $16.86 on Wednesday.
EPR Properties EPR
- EPR is expected to release its fourth quarter 2023 financial results after the closing bell on Feb. 28, 2024. The company’s shares lost around 11% over the past month. The company’s 52-week low is $33.92.
- RSI Value: 24.99
- EPR Price Action: Shares of EPR Properties rose 0.7% to close at $41.90 on Wednesday.
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