Top 3 Real Estate Stocks That May Explode This Quarter
Author: Avi Kapoor | August 07, 2024 07:57am
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.
On July 30, Community Healthcare reported worse-than-expected second-quarter financial results. The company's stock fell around 24% over the past five days and has a 52-week low of $18.63.
RSI Value: 27.83
CHCT Price Action: Shares of Community Healthcare Trust fell 1.4% to close at $19.06 on Tuesday.
Wheeler Real Estate Investment Trust Inc (NASDAQ:WHLR)
On Aug. 6, Wheeler Real Estate Investment Trust reported its financial and operating results for the three and six months ended June 30 on Form 10-Q. The company's stock fell around 81% over the past month. It has a 52-week low of $2.86.
RSI Value: 28.86
WHLR Price Action: Shares of Wheeler Real Estate Investment Trust fell 5.7% to close at $2.99 on Tuesday.
On June 6, Maxim Group analyst Michael Diana downgraded Generation Income from Buy to Hold. The company's shares fell around 44% over the past month and has a 52-week low of $1.94.
RSI Value: 20.16
GIPR Price Action: Shares of Generation Income Properties gained 13.6% to close at $2.21 on Tuesday.
