Top 2 Real Estate Stocks That Are Ticking Portfolio Bombs
Author: Lisa Levin | September 26, 2023 07:12am
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 $10.31. .
- RSI Value: 82.54
- HT Price Action: Shares of Hersha Hospitality Trust rose 0.7% to close at $9.94 on Monday.
Sabra Health Care REIT, Inc. (NASDAQ:SBRA)
- Sabra Health Care REIT reported weaker-than-expected second-quarter sales. Rick Matros, CEO and Chair, said, “Sabra's portfolio continues to strengthen as occupancy gains and easing labor pressures drive improved rent coverages. Reimbursement trends also remain encouraging, highlighted by Medicaid rate increases that are trending higher than they have been in many years.” The company’s stock has a 52-week high of $14.32.
- RSI Value: 71.01
- SBRA Price Action: Shares of Sabra Health Care REIT gained 0.9% to close at $14.06 on Monday.
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Posted In: HT SBRA
