Top 5 Real Estate Stocks That May Implode This Month

As of Dec. 11, 2023, five stocks in the real estate sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.

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, according to Benzinga Pro.

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

Altisource Asset Management Corporation (NYSE:AAMC)

• On Dec. 5, Altisource Asset Management reported the departure of interim CEO Danya Sawyer. "We appreciate Danya’s excellent service and contributions to the Company," said Chairman of the Board Ricardo Byrd. "We wish her well in her future endeavors." A successor CEO is expected to be announced within 30 days. The company’s stock jumped around 104% over the past five days and has a 52-week high of $60.88 .
• RSI Value: 89.47
• AAMC Price Action: Shares of Altisource Asset Management gained 27.6% to close at $6.65 on Friday.

Presidio Property Trust, Inc. (NYSE:SQFT)

• On Nov. 14, Presidio Property Trust posted a loss for the third quarter. The company’s stock gained around 100% over the past month and has a 52-week high of $1.29.
• RSI Value: 80.03
• SQFT Price Action: Shares of Presidio Property Trust gained 15.7% to close at $1.18 on Friday.

AMREP Corporation (NYSE:AXR)

• On Sept. 13, Amrep posted a profit for the first quarter. The company’s stock jumped around 29% over the past month and has a 52-week high of $20.30.
• RSI Value: 76.00
• AXR Price Action: Shares of AMREP gained 4.6% to close at $19.87 on Friday.

Broadstone Net Lease, Inc. (NYSE:BNL)

• On Nov. 1, Broadstone Net Lease posted downbeat sales for the third quarter. "We remained highly selective this quarter in light of the current economic environment and rapid increase in interest rates, deploying capital only into previously identified development projects and revenue generating capital expenditures with existing tenants," said John Moragne, BNL’s Chief Executive Officer. The company’s stock gained around 30% over the past month and has a 52-week high is $18.54.
• RSI Value: 74.42
• BNL Price Action: Shares of Broadstone Net Lease fell 0.8% to close at $16.38 on Friday.

Compass, Inc. (NYSE:COMP)

• On Nov. 6, Compass posted downbeat results for the third quarter. The company’s stock jumped around 44% over the past month and has a 52-week high of $5.1590.
• RSI Value: 70.77
• COMP Price Action: Shares of Compass gained 2.6% to close at $2.80 on Friday.

 

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