Top 3 Real Estate Stocks That Are Ticking Portfolio Bombs

As of April 4, 2024, three stocks in the real estate sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.

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 overbought when the RSI is above 70, according to Benzinga Pro.

Here’s the latest list of major overbought players in this sector.

Forestar Group Inc. FOR

• On Jan. 23, Forestar Group posted better-than-expected quarterly results. The company will release financial results for its second quarter ended March 31, 2024 on April 18, 2024 before the opening bell. The company’s stock gained around 16% over the past month and has a 52-week high of $40.92 .
• RSI Value: 70.44
• FOR Price Action: Shares of Forestar Group gained 2.5% to close at $39.61 on Wednesday.

Healthpeak Properties, Inc. DOC

• On April 1, B of A Securities upgraded the stock from Underperform to Buy and raised its price target from $18 to $25. The company has a 52-week high of $22.38.
• RSI Value: 72.78
• DOC Price Action: Shares of Healthpeak Properties gained 0.7% to close at $18.38 on Wednesday.

Comstock Holding Companies, Inc. CHCI

• On March 21, Comstock Holding posted an increase in quarterly EPS and sales results. "Our fiscal 2023 results underscore the strength and resiliency of the growth engine we’ve built at Comstock," said Christopher Clemente, Comstock’s Chairman and Chief Executive Officer. The company’s stock gained around 11% over the past month and has a 52-week high of $6.54.
• RSI Value: 72.99
• CHCI Price Action: Shares of Comstock Holding gained 0.6% to close at $5.25 on Wednesday.

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