Top 2 Real Estate Stocks That Should Keep You Up At Night

Author: Lisa Levin | August 29, 2023 07:45am

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.

Hersha Hospitality Trust (NYSE:HT)

• Hersha Hospitality Trust announced a merger with KSL Capital Partners LLC, an investor in travel and leisure businesses. "Following a multi-year comprehensive review by the independent Transaction Committee of Hersha's Board of Trustees, the Board and management team are confident this step will allow us to deliver value for our shareholders while refocusing on growing the business over a longer period of time," said Executive Chairman Jay H. Shah. The company’s stock has a 52-week high of $10.58. .
• RSI Value: 87.57
• HT Price Action: Shares of Hersha Hospitality Trust jumped 55.9% to close at $9.79 on Monday.

Howard Hughes Holdings Inc. (NYSE:HHH)

• Howard Hughes Holdings named Kristi Smith as President of the company's Maryland region, where she will lead the continued growth and revitalization of Downtown Columbia. "We are fortunate to have Kristi leading the next exciting chapter of Downtown Columbia's ongoing transformation, as we continue to see strong demand throughout the region for the outstanding quality of life the community offers," said David R. O'Reilly, Chief Executive Officer of Howard Hughes. The company’s stock has a 52-week high of $80.33.
• RSI Value: 87.72
• HHH Price Action: Shares of Howard Hughes Holdings gained 1.7% to close at $77.72 on Monday.

 

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Posted In: HHH HT