Benzinga - 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.
Here’s the latest list of major oversold players in this sector, having an RSI near or below 30.
Gladstone Commercial Corporation (NASDAQ: GOOD)
- Gladstone Commercial reported a drop in quarterly earnings. Gladstone Commercial's President, Buzz Cooper said, "Our financial results reflect consistent performance and stabilized revenues from our tremendous same store property occupancy, rent collection and growth, accretive real estate investments made during 2022 and 2021, and our ability to renew tenants, as well as our deleveraging and capital recycling programs." The company’s stock has a 52-week low of $12.87 .
- RSI Value: 23.80
- GOOD Price Action: Shares of Gladstone Commercial gained 1.7% to close at $13.55 on Thursday.
- Farmland Partners said quarterly funds from operations came in less than expected. Paul A. Pittman, Chairman and CEO said, "2022 was a strong year for FPI—total revenue and AFFO were the highest in the history of the company " The company’s stock has a 52-week low of $10.26.
- RSI Value: 24.79
- FPI Price Action: Shares of Farmland Partners gained 0.5% to close at $10.71 on Thursday.
- The company posted better-than-expected quarterly sales. George J. Carter, Chairman and Chief Executive Officer, said, "As the first quarter of 2023 begins, we continue to believe that the current price of our common stock does not accurately reflect the value of our underlying real estate assets." The company’s stock has a 52-week low of $2.33.
- RSI Value: 27.21
- FSP Price Action: Shares of Franklin Street Properties rose 0.4% to close at $2.38 on Thursday.
- Alexandria will release its operating and financial results for the first quarter after the market closes on Monday, April 24, 2023. The company’s 52-week low is $126.74.
- RSI Value: 26.62
- ARE Price Action: Shares of Alexandria Real Estate Equities rose 0.2% to close at $43.17 on Thursday.
- Crown Castle Intl posted downbeat quarterly earnings. “We generated significant growth in 2022, highlighted by nearly 6.5% organic revenue growth in our Towers segment and more than 9% dividend per share growth,” stated Jay Brown, Crown Castle’s Chief Executive Officer. The company has a 52-week low of $121.71.
- RSI Value: 29.26
- CCI Price Action: Shares of Crown Castle gained 0.3% to close at $129.31 on Thursday.
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