Top 5 Real Estate Stocks That May Fall Off A Cliff

Author: Lisa Levin | June 12, 2023 07:53am

The most overbought stocks in the real estate sector presents an opportunity to go short on these overvalued 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 overbought when the RSI is above 70.

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

eXp World Holdings, Inc. (NASDAQ:EXPI)

• S&P Dow Jones Indices the company will replace Heska Cop in the S&P Smallcap 600. The company’s stock has a 52-week high of $21.39 .
• RSI Value: 80.95
• EXPI Price Action: Shares of eXp World Holdings rose 2.4% to close at $20.62 on Friday.

Tanger Factory Outlet Centers, Inc. (NYSE:SKT)

• Tanger Factory Outlet reported a slight increase in first-quarter FFO. "Our strong first quarter 2023 results reflect the continued execution of our strategic plan," said Stephen Yalof, President and Chief Executive Officer. The company’s stock has a 52-week high of $22.37.
• RSI Value: 71.45
• SKT Price Action: Shares of Tanger Factory Outlet Centers rose 0.3% to close at $21.96 on Friday.

Urstadt Biddle Properties Inc. (NYSE:UBA)

• Urstadt Biddle Properties reported a drop in quarterly sales. Willing L. Biddle, President and CEO of Urstadt Biddle Properties Inc., said "We are continuing to see a rebound in our tenants’ businesses and increasing demand for vacant space at our properties." The company has a 52-week high of $21.03.
• RSI Value: 72.27
• UBA Price Action: Shares of Urstadt Biddle Properties fell 0.1% to close at $20.80 on Friday.

Farmland Partners Inc. (NYSE:FPI)

• Farmland Partners posted downbeat quarterly sales. "The farm economy continues to be very strong, as reflected in high farmland values, strong commodity prices, and the impact of rent increases in our fixed farm rents," said Luca Fabbri, President and Chief Executive Officer. The company’s 52-week high is $15.12.
• RSI Value: 76.31
• FPI Price Action: Shares of Farmland Partners fell 0.5% to close at $12.21 on Thursday.

The Necessity Retail REIT, Inc. (NASDAQ:RTL)

• Global Net Lease, The Necessity Retail REIT & AR Global entered into Cooperation agreement with Blackwells Capital. The company has a 52-week high of $8.19.
• RSI Value: 72.03
• RTL Price Action: Shares of Necessity Retail REIT fell 2.7% to settle at $6.78 on Friday.

 

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Posted In: EXPI FPI RTL SKT UBA