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)
- On March 26, LuxUrban issued preliminary fourth-quarter revenue outlook below estimates. "2023 was a transformative year for LuxUrban," said Brian Ferdinand, Chairman of the Board. "We increased our portfolio of hotel properties under long-term Master Lease Agreement, increased net rental revenue and Adjusted EBITDA by 160% and 146%, respectively, and signed a groundbreaking collaboration agreement with Wyndham that provides financial, brand, and operating support to advance our growth objectives on our existing portfolio." The company’s stock fell around 43% over the past month and has a 52-week low of $1.25 .
- RSI Value: 25.10
- LUXH Price Action: Shares of LuxUrban Hotels fell 1.9% to trade at $1.2950 on Monday.
- On March 7, Altisource Portfolio posted a narrower-than-expected quarterly loss. “I am pleased with our performance in 2023 as we continue to strengthen our financial position and win new business which has not fully ramped. In the face of serious market headwinds for both Business Segments, Service revenue in the Servicer and Real Estate segment was only 4% lower than 2022 and Service revenue in the Origination segment outperformed the overall market with a decline of 11% compared to a 36% decline in industrywide residential origination volume,” said Chairman and Chief Executive Officer William B. Shepro. The company’s stock fell around 743 over the past month. It has a 52-week low of $1.58.
- RSI Value: 22.36
- ASPS Price Action: Shares of Altisource Portfolio Solutions fell 7.2% to trade at $1.5950 on Monday.
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