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.
CubeSmart CUBE
- Wells Fargo analyst Eric Luebchow recently downgraded CubeSmart from Overweight to Equal-Weight and announced a $37 price target. The company’s stock has a 52-week low of $33.19 .
- RSI Value: 28.70
- CUBE Price Action: Shares of CubeSmart fell 2.8% to close at $33.28 on Wednesday.
Five Point Holdings, LLC FPH
- Five Point Holdings posted a profit for the third quarter. Dan Hedigan, Chief Executive Officer, said, “In the third quarter, we built on our positive momentum from the first half of the year, with earnings for the third quarter of $14.2 million and an increase in our cash position of $25.1 million, giving us total cash and cash equivalents of $218.3 million.” It has a 52-week low of $1.88.
- RSI Value: 27.76
- FPH Price Action: Shares of Five Point Holdings fell 2.5% to close at $2.32 on Wednesday.
CBRE Group, Inc. CBRE
- Raymond James analyst Patrick O’Shaughnessy recently maintained CBRE Group with a Strong Buy and lowered the price target from $100 to $95. The company’s stock has a 52-week low of $64.81.
- RSI Value: 27.63
- CBRE Price Action: Shares of CBRE fell 1.6% to close at $65.76 on Wednesday.
National Storage Affiliates Trust NSA
- National Storage Affiliates Trust is scheduled to release financial results for the three months ended Sept. 30, 2023, on Wednesday, Nov. 1, 2023. The company’s 52-week low is $28.09.
- RSI Value: 29.22
- NSA Price Action: Shares of National Storage Affiliates Trust fell 1.2% to close at $28.48 on Wednesday.
Zillow Group, Inc. ZG
- Zillow Group announced it will release third-quarter 2023 financial results after the closing bell on Wednesday, Nov. 1, 2023. The company has a 52-week low of $28.06.
- RSI Value: 25.30
- ZG Price Action: Shares of Zillow fell 3% to close at $37.24 on Wednesday.
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