In the tumultuous waters of the stock market, battered real estate stocks shine as beacons of opportunity, offering value where others may see distress.
The Relative Strength Index (RSI), a key momentum indicator, points to oversold conditions in select real estate companies, signaling potential price upticks. An RSI below 30 signifies oversold territory, enticing investors seeking undervalued assets.
Let’s explore the top three real estate stocks currently exhibiting oversold signals, presenting promising prospects for astute investors.
Office Properties Income Trust OPI
- Recently, Office Properties Income Trust defied expectations with strong quarterly sales, yet its stock tumbled 17% in the past five days, hovering near its 52-week low of $2.70.
- RSI Value: 25.19
- OPI Price Action: Closing at $2.70 on Wednesday, the share price reflected a 5.6% decline.
Orion Office REIT Inc. ONL
- Despite delivering disappointing fourth-quarter results and offering subdued FY24 guidance, Orion Office REIT’s stock plummeted 21% in the past five days, nearing its 52-week low of $3.65.
- RSI Value: 25.45
- ONL Price Action: Declining by 16.9% to $3.68, the stock faced significant selling pressure on Wednesday.
City Office REIT, Inc. CIO
- City Office REIT reported lackluster quarterly sales, with CEO James Farrar highlighting ongoing leasing progress amidst headwinds. The stock dipped 10% in the past five days, nearing its 52-week low of $3.4550.
- RSI Value: 29.62
- CIO Price Action: Settling at $4.12, City Office REIT faced market headwinds on Wednesday.
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